The best savings rates this week 14 05 21 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 14/05/2021

Savers looking for the top rates will be pleased to see that new, higher rates, are now topping some of the charts. The notice account chart has particularly seen a number of new rates, with a new rate topping the chart overall. Savers looking to open these accounts are urged to act quickly as many providers are finding that their top-rate accounts are quickly reaching maximum funding levels resulting in them having to withdraw or reduce the rates being offered.

Savers should be aware that the accounts highlighted below are the top-paying accounts available to new customers and higher rates may be available on accounts available to existing customers only. Savers can compare the best savings rates available to existing customers only by visiting our savings charts and selecting these accounts in the refine search section.

The best fixed rate bonds savings rates

Provider Account Term Rate AER  
Gatehouse Bank Fixed Term Green Saver Five years 1.40% (expected profit rate) Find out more
Zopa 3 Year Fixed Term Savings Three years 1.01% Find out more
Zopa 2 Year Fixed Term Savings Two years 0.90% Find out more
Atom Bank 1 Year Fixed Saver One year 0.85% Find out more

 

Topping the fixed rate bond chart overall this week was Gatehouse Bank, which pays an expected profit rate of 1.40% gross on anniversary on its Fixed Term Green Saver. To open this account, a £1,000 minimum deposit is needed. It has the incentive of Gatehouse Bank planting a tree in a UK woodland when the account is opened and funded. The account must be opened and managed online.

Topping both the three and two year fixed rate bond charts this week was Zopa, which pays 1.00% gross on its 3 Year Fixed Term Savings account and 0.89% gross on its 2 Year Fixed Term Savings account. Although interest is paid monthly on these accounts, it is only available on maturity. Both accounts require a £1,000 minimum opening deposit. They must be opened online but can then be managed online and via mobile app.

The top rate in the one year fixed rate bond chart this week came from Atom Bank, which pays 0.85% gross on anniversary on its 1 Year Fixed Saver. This account requires a £50 minimum deposit to open. It can only be opened and managed via mobile app. There is also a version of this account that pays interest monthly at the same gross rate.

Compare the best fixed rate bonds

The best easy access savings rates

Provider Account Maximum number of withdrawals allowed Rate AER  
Atom Bank Instant Saver Unlimited 0.50% Find out more
ICICI Bank UK SuperSaver Savings Account Unlimited via linked ICICI Bank Current Account only 0.50% Find out more
Virgin Money Club M Saver Unlimited via Club M Account or nominated account 0.50% Find out more

 

Three providers had the top rate in the easy access savings charts on accounts that are available to new customers. Atom Bank pays 0.50% gross monthly on its Instant Saver and does not require a deposit to open. Savers looking to open this account must have a UK current account. It allows further additions and withdrawals. The account can only be opened and managed via mobile app.

ICICI Bank UK pays 0.50% gross monthly on its SuperSaver Savings Account, which also does not require a deposit to open. Savers must have or open an ICICI Bank UK HomeVantage Current Account to open this account. It allows further additions and withdrawals are permitted but must be made via a linked ICICI Bank current account. It can be opened online, in branch, or by phone and then managed online, in branch, by post and via mobile app.

Virgin Money’s Club M Saver pays 0.50% gross quarterly and, again, does not require a deposit to open but a Virgin Money Club M Account is needed. This account allows further additions. Withdrawals are permitted but must be made via a Club M Account or a nominated account. It can be opened online or by phone and then managed online, in branch, by phone and via mobile app.

Compare the best easy access savings accounts

The best notice account rates

Provider Account Notice Rate AER  
Charter Savings Bank 120 Day Notice - Issue 21
120 Day Notice Postal - Issue 21

120 days

120 days

0.67%

0.67%

Find out more

Find out more

Charter Savings Bank


Moneycorp Bank

95 Day Notice – Issue 37
95 Day Notice Postal - Issue 37
90 Day Notice Account

95 days

95 days

90 days

0.65%

0.65%

0.65%

Find out more

Find out more

Find out more

 

New to the top of the notice account chart this week with an account available to new customers is Charter Savings Bank. Both its 120 Day Notice – Issue 21 and 120 Day Notice Postal – Issue 21 pay 0.67% gross on anniversary and require a £5,000 minimum deposit to open. These accounts allow further additions via a nominated account and withdrawals can be made subject to 120 days’ notice. 120 Day Notice – Issue 21 can only be opened and managed online, while the postal option can be opened online or by post but must then be managed by post. There are also versions of both these accounts that pay interest monthly at the same gross rate.

Both Charter Savings Bank and Moneycorp Bank had the second-best notice account rates this week with accounts that are available to new customers. Charter Savings Bank pays 0.65% gross on anniversary on its 95 Day Notice – Issue 37 and 95 Day Notice Postal – Issue 37. To open these accounts, a £5,000 minimum deposit is needed. They allow further additions via a nominated account. Withdrawals are permitted subject to 95 days’ notice. 95 Day Notice – Issue 37 must be opened and managed online, while the postal option can be opened online or by post but can only be managed by post.

Moneycorp Bank* also pays 0.65% gross monthly on its 90 Day Notice Account. To open this account, a £10,000 minimum deposit is needed, along with a Moneycorp Bank Deposit Account for transactional purposes. Further additions are allowed while the issue remains open, subject to a minimum amount of £10,000 and withdrawals can be made subject to 90 days’ notice. The account must be opened and managed online.

Compare the best notice accounts

*Deposits into Moneycorp Bank are not protected under the Financial Services Compensation Scheme (FSCS) Depositor Protection Scheme, but are instead protected under the Gibraltar Deposit Guarantee Scheme. For more information, read our guide on depositor protection schemes.

Disclaimer

Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time. Links to third parties on this page are paid for by the third party. You can find out more about the individual products by visiting their site. Moneyfacts.co.uk will receive a small payment if you use their services after you click through to their site. All information is subject to change without notice. Please check all terms before making any decisions. This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.

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