The Best Savings Rates This Week 20.8.21 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 20/08/2021

Competition at the top of the fixed rate bond chart increased this week, with banks increasing rates and launching new deals. SmartSave, for example, launched a range of fixed rate bonds this week, resulting in it now topping the chart overall, as well as topping the three year fixed rate bond chart. Meanwhile, today saw Investec Bank plc increase the rate on its one year fixed rate bond, which resulted in it paying the highest rate in the one year fixed bond chart, then Allica Bank increased its one year fixed bond rate, which now tops the 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

 

SmartSave

5 Year Fixed Rate Saver

Five years

1.72%

Find out more

SmartSave

3 Year Fixed Rate Saver

Three years

1.56%

Find out more

Zopa

2 Year Fixed Term Savings

Two years

1.47%

Find out more

Allica Bank

Fixed-Term Personal Savings Account (Issue 17)

12 months

1.35%

Find out more

 

New to the top of the fixed rate bond chart this week was SmartSave, which pays 1.72% gross on anniversary on its 5 Year Fixed Rate Saver. SmartSave also now tops the three year fixed bond chart paying 1.56% gross on anniversary. Both these accounts require a £10,000 minimum deposit to open and can only be opened and managed online.

Zopa topped the two year fixed rate bond chart this week paying 1.46% gross monthly on its 2 Year Fixed Term Savings. A £1,000 minimum deposit is needed to open this account. Savers should note that although interest is added monthly, it is only available on maturity. It can only be opened online but can then be managed online and via mobile app.

A rate rise today saw Allica Bank top the one year fixed rate bond chart this week. Its Fixed-Term Personal Savings Account (Issue 17) pays 1.35% gross on maturity and requires a £10,000 minimum deposit to open. The account can be opened and managed online and via mobile app.

Compare the best fixed rate bonds

The best easy access savings rates

 

Provider

Account

Maximum number of withdrawals allowed

Rate AER

 

Tandem Bank

Green Instant Access Saver

Unlimited via a nominated account

0.65%

Find out more

Hampshire Trust Bank

Online Easy Access Account (Issue 4)

Unlimited via a nominated account

0.60%

Go to provider’s site

Investec Bank plc

Online Flexi Saver

Unlimited

0.58%

Go to provider’s site

 

This week Tandem Bank remained at the top of the easy access savings account chart with its Green Instant Access Saver paying 0.65% gross monthly. A deposit is not needed to open this account and it allows further additions and withdrawals with all transactions made via a nominated account. It can only be opened and managed via mobile app.

Hampshire Trust Bank increased the rate on its Online Easy Access Account (Issue 4) today, resulting in it now paying the second-best rate in the chart. This account pays 0.60% gross on anniversary on a £1,000 minimum opening deposit. It allows further additions and withdrawals with all transactions made via a nominated account. It must be opened and managed online.

The third-best easy access savings account rate this week came from Investec Bank plc which pays 0.58% gross monthly on its Online Flexi Saver. A £5,000 minimum deposit is needed to open this account, which allows both further additions and withdrawals. The account must be opened and managed online.

Compare the best easy access savings accounts

The best notice account rates

 

Provider

Account

Notice

Rate AER

 

DF Capital

120 Day Notice Account (Issue 1)

120 days

1.00%

Find out more

Hampshire Trust Bank

120 Day Notice (Issue 6)

120 days

0.90%

Go to provider’s site

Allica Bank

95-Day Notice Personal Savings Account (Issue 1)

95 days

0.86%

Find out more

 

The top notice account rate this week once again came from DF Capital, which pays 1.00% gross monthly on its 120 Day Notice Account (Issue 1). This account requires a £1,000 minimum deposit to open. Further additions are allowed and withdrawals can be made subject to 120 days’ notice. The account can be opened online and then managed via secure email.

Hampshire Trust Bank had the next-best notice account rate this week paying 0.90% gross on anniversary on its 120 Day Notice (Issue 6). To open this account a £1 minimum deposit is needed. It allows further additions and withdrawals can be made subject to 120 days’ notice – both further additions and withdrawals must be made via a nominated account. It can only be opened online but can then be managed online, by post and by phone.

The third-best notice account rate this week came from Allica Bank which pays 0.86% gross on anniversary on its 95-Day Notice Personal Savings Account (Issue 1). This account requires a £10,000 minimum deposit to open and further additions can be made. Withdrawals can be made subject to 95 days’ notice. It can be opened online or via mobile app and then managed by phone and via mobile app.

Compare the best notice accounts

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