The Best Savings Rates This Week 16 07 21 | moneyfacts.co.uk

Moneyfacts.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfacts.co.uk will always be from news@moneyfacts-news.co.uk. Be Scamsmart.


Derin Clark

Derin Clark

Online Reporter
Published: 16/07/2021

Competition at the top of the easy access savings account chart increased this week with Leeds Building Society relaunching its Double Access Saver, resulting in 10 accounts now paying the top easy access saving rate. Meanwhile, Wesleyan Bank launched a range of fixed rate bonds during the week which has resulted in the three year option topping the three year fixed rate bond chart.

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.

The best fixed rate bonds savings rates

 

Provider

Account

Term

Rate AER

 

UBL UK

5 Year Fixed Term Deposit

Five years

1.66%

Go to provider’s site

Wesleyan Bank

Fixed Rate Deposit Account

Three years

1.35%

Find out more

QIB (UK)

Raisin UK – 2 Year Fixed Term Deposit

Two years

1.25% (expected profit rate)

Go to provider’s site

Gatehouse Bank

Fixed Term Green Saver

One year

1.10% (expected profit rate)

Find out more

 

UBL (UK) topped the fixed rate bond chart this week with its 5 Year Fixed Term Deposit paying 1.72% gross on maturity. There are also versions of this account that pay 1.66% gross on anniversary and 1.65% gross monthly. All versions require a £2,000 minimum deposit to open. They can be opened online, in branch, by post or via mobile app and then managed online, in branch, by post, by phone and via mobile app.

The top rate in our three year fixed bond chart this week came from Wesleyan Bank which pays 1.35% gross on anniversary on its Fixed Rate Deposit Account. It requires a £1,000 minimum deposit to open and must be opened and managed online.

QIB (UK) topped the two year fixed rate bond chart this week paying an expected profit rate of 1.25% gross on maturity on its Raisin UK – 2 Year Fixed Term Deposit. This account requires a £1,000 minimum opening deposit. It benefits from Raisin UK offering a double welcome bonus of up to £100 when a first savings account is opened via its website. The account must be opened online but can then be managed online, by post and by phone.

Gatehouse Bank had the best paying one year fixed bond this week, offering an expected profit rate of 1.10% gross on maturity on its Fixed Term Green Saver. This account requires a £1,000 minimum deposit to open. 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.

Compare the best fixed rate bonds

The best easy access savings rates

 

Provider

Account

Maximum number of withdrawals allowed

Rate AER

 

Leeds Building Society

Limited Issue Online Access Account (Issue 20)

Unlimited withdrawals via a nominated account

0.50%

Go to provider’s site

SAGA

Saga Easy Access Savings Account

Unlimited

0.50% (includes a 0.10% bonus for 12 months)

Go to provider’s site

Charter Savings Bank

Easy Access - Issue 21

Unlimited

0.50%

Find out more

Charter Savings Bank

Easy Access Postal - Issue 21

Unlimited

0.50%

Find out more

Coventry Building Society

Limited Access Saver (4)

Six penalty free withdrawals per annum, further withdrawals subject to 50 day loss of interest

0.50%

Find out more

 

Cynergy Bank

Online Easy Access Account (Issue 40)

Unlimited via a nominated account

0.50% (includes a 0.20% bonus for 12 months)

Find out more

ICICI Bank UK

SuperSaver Savings Account

Unlimited but all withdrawals via linked ICICI Bank current account only

0.50%

Find out more

Leeds Building Society

Double Access Saver

Two withdrawals per calendar year, then 30 day loss of interest on all withdrawals thereafter

0.50%

Find out more

Marcus by Goldman Sachs®

Online Savings Account

Unlimited via a nominated account

0.50% (includes 0.10% bonus for 12 months)

Find out more

Virgin Money

Club M Saver

Unlimited but all withdrawals via Club M Account or nominated account.

0.50%

Find out more

 

Competition at the top of the easy access savings chart this week remained strong with 10 accounts offering the top rate of 0.50% AER. Leeds Building Society pays 0.50% gross on maturity on its Limited Issue Online Access Account (Issue 20), which requires a £1,000 minimum deposit to open. This account allows further additions whilst the issue remains open and withdrawals can be made via a nominated account. Savers should be aware that when this account matures on 31 August 2022 it reverts to an instant access maturity account. The account must be opened and managed online.

SAGA pays 0.50% gross monthly, which includes a 0.10% bonus for 12 months, on its Saga Easy Access Savings Account. No deposit is needed to open this account and it allows further additions via a nominated account. Withdrawals are permitted. It can only be opened online but can then be managed online and by phone. Savers should be aware that the account is operated by Goldman Sachs International Bank.

Charter Savings Bank pays 0.50% gross on anniversary on both its Easy Access – Issue 21 and its Easy Access Postal – Issue 21 accounts. These accounts require a £5,000 minimum deposit to open. They allow further additions via a nominated account and withdrawals. Easy Access – Issue 21 can only be opened and managed online, while the postal option can be opened by post or online but must be managed by post. There are versions of both accounts that pay interest monthly at the same gross rate.

Coventry Building Society’s Limited Access Saver (4) pays 0.50% gross on anniversary and requires a £1 minimum deposit to open. It allows further additions. Withdrawals are restricted to six penalty-free withdrawals per annum and all further withdrawals are subject to a 50 days’ loss of interest penalty. The account can be opened and managed online, in branch, by post and by phone. There is a version of this account that pays interest monthly at the same gross rate.

Online Easy Access Account (Issue 40) from Cynergy Bank pays 0.50% gross on anniversary, which includes a 0.20% bonus for 12 months. To open this account a £1 minimum deposit is needed and it allows further additions. Withdrawals can be made via a nominated account. To open and manage this account a Cynergy Bank Authenticator App or Digipass is required and the account can only be opened and managed online.

ICICI Bank UK pays 0.50% gross monthly on its SuperSaver Savings Account which does not require a deposit to open, but a HomeVantage Current Account is needed. Further additions can be made and withdrawals are permitted with all transactions 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.

Leeds Building Society pays 0.50% gross yearly on its Double Access Saver, which requires a £5,000 minimum deposit to open. This account allows further additions whilst the issue remains open but restricts withdrawals to two per calendar year and then there is a 30 days’ loss of interest penalty on all further withdrawals. It can be opened and managed in branch and by post.

Marcus by Goldman Sachs® pays 0.50% gross monthly, which includes a 0.10% bonus for 12 months, on its Online Savings Account. This account does not need a deposit to open but a UK mobile number is required. It allows further additions and withdrawals with all transactions made via a nominated account. The account can be opened online or via mobile app and then managed online, by phone and via mobile app.

Club M Saver from Virgin Money pays 0.50% gross quarterly and does not require a deposit to open, although a Virgin Money Club M account is needed. Further additions can be made and withdrawals are allowed via a Club M Account or 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

 

Hampshire Trust Bank

95 Day Notice (Issue 9)

95 days

0.80%

Go to provider’s site

 

Charter Savings Bank

120 Day Notice - Issue 23

120 days

0.76%

Find out more

Charter Savings Bank

120 Day Notice Postal - Issue 23

120 days

0.76%

Find out more

OakNorth Bank

120 Days Notice Deposit Account

120 days

0.76%

Find out more

 

New to the top of the notice account chart this week was Hampshire Trust Bank which pays 0.80% gross on anniversary on its 95 Day Notice (Issue 9). This account requires a £1,000 minimum deposit to open. Further additions can be made and withdrawals are permitted subject to 95 days’ notice with all transactions made via a nominated account. It must be opened online but can then be managed online, by post or by phone.

Three accounts paid the second best notice account rate this week of 0.76% AER. Both 120 Day Notice – Issue 23 and 120 Day Notice Postal – Issue 23 from Charter Savings Bank pay 0.76% gross on anniversary. These accounts require a £5,000 minimum deposit to open and allow further additions via a nominated account. Withdrawals can be made subject to 120 days’ notice. 120 Day Notice – Issue 23 must be opened and managed online, while the postal option can be opened online or by post but must be managed by post. There are versions of both accounts that pay interest monthly at the same gross rate.

OakNorth Bank pays 0.76% gross monthly on its 120 Days Notice Deposit Account, which requires a £1 minimum deposit to open. This account allows further additions and withdrawals subject to a minimum of £1,000 can be made subject to 120 days’ notice. It can be opened and managed online or via mobile app.

Compare the best notice accounts

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.

Cookies

Moneyfacts.co.uk will, like most other websites, place cookies onto your device. This includes tracking cookies.

I accept. Read our Cookie Policy