The Best Savings Rates This Week 15.10.21 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 15/10/2021

During the week Cynergy Bank increased the rate and changed the issue number on its easy access savings account, so it now pays the top rate of 0.66% AER in the easy access savings chart. As well as this, JN Bank increased the rate on its five year fixed bond and QIB (UK) launched a five year fixed bond, both of which now pay the joint-top fixed bond rate.

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

Information about accounts and rates are correct at 1pm on Friday 15 October 2021 but can change at any time.

The best fixed rate bonds savings rates

Provider Account Term Rate AER  

JN Bank

QIB (UK)


Recognise Bank

Fixed Term Savings Account
Raisin UK - 5 Year Fixed Term Deposit
5 Year Fixed Rate Account

Five years

Five years


Five years

2.00%

2.00% (expected profit rate)

2.00%

Go to provider’s site
Find out more


Find out more

JN Bank

Al Rayan Bank

Fixed Term Savings Account
Fixed Term Deposit

Three years

36 months

1.81%

1.81%

Go to provider’s site
Find out more
Al Rayan Bank Fixed Term Deposit 24 months 1.76% (expected profit rate) Find out more
Gatehouse Bank 1 Year Fixed Term Green Saver One year 1.51% (expected profit rate) Find out more

 

Three providers had the top overall fixed bond rate of 2.00% AER this week. JN Bank pays 2.00% gross on anniversary on its Fixed Term Savings Account, which requires a £1,000 minimum deposit to open. This account can only be opened and managed online. QIB (UK) pays an expected profit rate of 2.00% gross on maturity on its Raisin UK – 5 Year Fixed Term Deposit. This account requires a £1,000 minimum deposit to open. It benefits from Raisin UK offering a welcome bonus of £50 when a saver opens their first savings account with a minimum of £10,000 via the Raisin UK website (terms and conditions apply). The account must be opened online but can then be managed online, by post and by phone. Recognise Bank’s 5 Year Fixed Rate Account pays 2.00% gross on anniversary, and requires a £1,000 minimum deposit to open. This account can only be opened and managed online. There is also a version of this account that pays interest monthly at a slightly lower gross rate of 1.98%.

Both JN Bank and Al Rayan Bank pay the top three year fixed bond rate this week. JN Bank pays 1.81% gross on anniversary on its Fixed Term Savings Account. To open this account a £1,000 minimum deposit is needed, and it must be opened and managed online. Al Rayan Bank pays an expected profit rate of 1.81% gross quarterly on its Fixed Term Deposit, which requires a £5,000 minimum deposit to open. The account can be opened and managed online, in branch, by phone and via mobile app.

Al Rayan Bank also topped the two year fixed rate bond chart this week with its Fixed Term Deposit paying an expected profit rate of 1.76% gross quarterly. A £5,000 minimum deposit is needed to open this account, which can be opened and managed online, in branch, by phone and via mobile app.

The top one year fixed bond rate this week comes from Gatehouse Bank, which pays an expected profit rate of 1.51% gross on maturity on its 1 Year Fixed Term Green Saver. This account requires a £1,000 minimum deposit to open. It must be opened and managed online. This account comes with the incentive that Gatehouse Bank will plant a tree in a UK woodland when an account is opened and funded.

Compare the best fixed rate bonds

The best easy access savings rates

Provider Account Maximum number of withdrawals allowed Rate AER  
Cynergy Bank Online Easy Access Account (Issue 42) Unlimited via a nominated account 0.66% (includes a 0.36% bonus for 12 months) Find out more
Family Building Society Premium Saver (4) Unlimited 0.65% Go to provider’s site
Coventry Building Society Four Access Saver 4 penalty free withdrawals per annum, further withdrawals subject to 50 day loss of interest 0.65% Find out more

 

The top easy access savings account rate this week comes from Cynergy Bank. Its Online Easy Access Account (Issue 42) pays 0.66% gross on anniversary, which includes a 0.36% bonus for 12 months. This account requires a £1 minimum deposit to open and allows further additions and withdrawals via a nominated account. It must be opened and managed online. Savers should be aware that a Cynergy Bank Authenticator App or Digipass is needed to open and manage the account.

Both Family Building Society and Coventry Building Society had the second-best easy access savings account rate this week. Family Building Society’s Premium Saver (4) pays 0.65% gross yearly and requires a £10,000 minimum deposit to open. This account allows further additions until 5 November 2021 and withdrawals from a minimum of £100. It can only be opened online but can then be managed online, in branch, by post and by phone.

Coventry Building Society pays 0.65% gross on anniversary or monthly on its Four Access Saver, which requires a £1 minimum deposit to open. This account allows further additions, but withdrawals are restricted to four penalty-free withdrawals per annum. All further withdrawals are subject to 50 days’ loss of interest. The account can be opened and managed online, in branch, by post and by phone.

Compare the best easy access accounts

The best notice account rates

Provider Account Notice Rate AER  
Family Building Society Capital 90 (1) 90 days 1.06% Go to provider’s site
OakNorth Bank 120 Days Notice Deposit Account 120 days 1.06% Find out more
Oxbury Bank Personal 120 Day Notice Account - Issue 1 120 days 1.06% Find out more

 

Three accounts pay the top notice account rate this week. Family Building Society pays 1.06% gross yearly on its Capital 90 (1) account, which requires a £20,000 minimum deposit to open. This account allows further additions until 26 November 2021 and withdrawals can be made from a minimum of £100 subject to 90 days’ notice. It must be opened and managed online. There is also a version of this account that pays interest monthly at a slightly lower gross rate of 1.05%.

OakNorth Bank pays 1.06% gross monthly on its 120 Day Notice Deposit Account, which needs a minimum deposit of £1 to open. Further additions are permitted, and withdrawals can be made subject to 120 days’ notice. This account can be opened and managed online and via mobile app.

Oxbury Bank also pays 1.06% gross monthly on its 120 Day Notice Deposit Account, which requires a £1,000 minimum deposit to open. The account allows further additions. Withdrawals are permitted subject to 120 days’ notice and all transactions must be made via a nominated account. It can only be opened online but can then be managed online or via mobile app. Savers should be aware that an Oxbury App is required to use online banking.

Compare the best notice accounts

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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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