Derin Clark

Derin Clark

Online Reporter
Published: 01/05/2020

Savers looking for the most competitive savings rates this week should look towards the fixed rate bond charts, where those able to lock their money into a long term account can get a rate of 1.90% gross. While the easy access savings chart has seen rates fall over the last few months, savers looking for the flexibility of an easy access account will still find some good rates available.

Savers should be aware that although we have included accounts that can be opened and managed in branch, consumers are advised to check with the bank or building society to ensure this service is still available, as many are only providing essential banking services in branch at the moment due to the Government’s restrictions on movement.

The best fixed rate bonds savings rates

Provider Account Term Rate AER
RCI Bank UK Fixed Term Savings Account Five years 1.90%

Bank of London and The Middle East

FCMB Bank (UK)


Investec Bank plc


RCI Bank UK


Gatehouse Bank

Premier Deposit Account

Raisin UK – 3 Year Fixed Term Deposit

3 Year Fixed Term Deposit

Fixed Term Savings Account

Fixed Term Deposit

Three years


Three years


Three years


Three years


Three years

1.75% (expected profit rate)

1.75%

1.75%

 

1.75%


1.75% (expected profit rate)

Bank of London and The Middle East Premier Deposit Account Two years 1.75% (expected profit rate)
Bank of London and The Middle Easy Premier Deposit Account One year 1.60% (expected profit rate)

The top-paying account in the fixed rate bond chart this week came from RCI Bank, which pays 1.90% gross on anniversary on its Fixed Term Savings Account. This five year bond requires a minimum deposit of £1,000 to open. It 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.

Five providers offered the best three year fixed rate of 1.75% gross this week. Bank of London and The Middle East (BLME) pays an expected profit rate of 1.75% gross on anniversary on its Premier Deposit Account. This account requires a minimum deposit of £1,000 to open, as well as a BLME transfer account to hold funds pending investment. This account can only be opened online and then managed by post. FCMB Bank (UK) pays 1.75% gross on maturity on its Raisin UK – 3 Year Fixed Term Deposit. To open this account, a minimum deposit of £1,000 is needed. It must be opened online but can then be managed online, by post and by phone. Investec Bank plc pays 1.75% gross on anniversary on its 3 Year Fixed Term Deposit, which requires a minimum opening deposit of £25,000. To open this account, an Easy Access Account for transactional purposes is needed. The account can only be opened online and then managed online, by phone and via mobile app. There is a version of this account that pays interest monthly at a slightly lower gross rate. RCI Bank UK pays 1.75% gross on anniversary on its Fixed Term Savings Account. A minimum deposit of £1,000 is needed to open this account, which 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. Gatehouse Bank pays an expected profit rate of 1.75% gross on anniversary on its Fixed Term Deposit. This account requires an opening minimum deposit of £1,000 and can only be opened and managed online.

This week, BLME also has the top-paying accounts in the two and one year fixed rate bond charts. The two-year version of its Premier Deposit Account pays an expected profit rate of 1.75% gross on anniversary and the one-year version pays an expected profit rate of 1.60% on maturity. Both accounts require a minimum deposit of £1,000 to open. As well as this, a BLME transfer account to hold funds pending investment is needed to open these accounts. They must be opened online and then be managed by post.

Fixed rate bonds

All the rates available can be found on our fixed rate bonds chart.

The best easy access savings rates

Provider Account Notice Rate AER
RCI Bank UK Freedom Savings Account None 1.20%
Investec Bank plc E-asy Access Account None 1.20%
Marcus by Goldman Sachs® Online Savings Account None 1.20%
SAGA Saga Easy Access Savings Account None 1.20% (includes a 0.20% bonus for 12 months)

RCI Bank UK had the top easy access savings gross rate of 1.20% this week with its Freedom Savings Account. It pays interest on anniversary and requires a £100 minimum deposit to open. The account allows unlimited further additions and withdrawals. It can only be opened and managed online. There is also a version of this account that pays interest monthly but at a slightly lower gross rate.

Investec Bank plc pays 1.19% gross monthly on its E-asy Access Account, which requires a minimum opening deposit of £10,000. This account allows unlimited further additions and withdrawals. It must be opened online but can then be managed online, by phone and via mobile app.

Also paying 1.19% gross monthly was Marcus by Goldman Sachs®, which pays this rate on its Online Savings Account. This account does not require a deposit to open, but a UK mobile number is needed. It allows unlimited further additions and withdrawals. The account can only be opened online but can then be managed online and by phone.

SAGA pays 1.19% gross monthly, which includes a 0.20% bonus for 12 months, on its Saga Easy Access Savings Account. To open this account, a £1 minimum deposit is needed. It allows unlimited further additions and withdrawals. The account must be opened online but can the be managed by phone as well.

Easy access accounts

All the rates available can be found on our easy access accounts chart.

The best notice account rates

Provider Account Notice Rate AER

ICICI Bank UK


ICICI Bank UK

Raisin UK – 95 Day Notice Account

HiSAVE Notice Savings Account

95 days


95 days

1.60%


1.60%

ICICI Bank UK Raisin UK – 45 Day Notice Account 45 days 1.40%
Beverley Building Society 30 Day Notice Account 30 days 1.15%

The top rate overall in the notice account chart this week came from ICICI Bank UK, which pays 1.59% gross monthly on both its Raisin UK - 95 Day Notice Account and its HiSAVE Notice Savings Account. The Raisin UK – 95 Day Notice Account requires a minimum opening deposit of £1,000. Further additions are not allowed. It does permit withdrawals of the full account balance subject to 95 days’ notice and account closure. This account must be opened online but can then be managed online, by post and by phone. HiSAVE Notice Savings Account requires an opening minimum deposit of just £1. This account is only available to new and existing HomeVantage Current Account customers. It allows unlimited further additions. Withdrawals can be made subject to 95 days’ notice and via a linked ICICI Bank current account.

ICICI Bank also had the top-paying account in the up to 60 days’ notice account chart. Its Raisin UK – 45 Day Notice Account pays 1.39% gross monthly. To open this account, a minimum deposit of £1,000 is needed. It does not allow further additions. Withdrawals are permitted of full account balance only and subject to 45 days’ notice and account closure. This account can only be opened online, but can then be managed by post and by phone as well.

The top rate in the up to 30 days chart came from Beverley Building Society, which pays 1.15% gross yearly. This account requires an opening minimum deposit of £1,000. It permits unlimited further additions. One penalty-free withdrawal is allowed per month up to £5,000, then further withdrawals are only permitted on 30 days’ notice or loss of interest. This account can be opened and managed in branch and by post.

Notice accounts

All the rates available can be found on our notice accounts chart.

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.

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