Savers will be pleased to see that many of the top rates are still available in the charts this week. Saying this, those looking for an easy access account will be disappointed to find that last week’s top rate of 1.46% is no longer available, however two providers continue to offer rates of 1.45% in this chart. Savers looking to get a good rate should no wait to open an account, as this year’s downward trend looks set to continue for the rest of the year and possibly into 2020 as well.
|UBL UK||5 Year Fixed Term Deposit||Five years||2.36%|
|Bank of London and The Middle East||Premier Deposit Account||Three years||2.20% (expected profit rate)|
|Bank of London and The Middle East||Premier Deposit Account||Two years||2.10% (expected profit rate)|
|Bank of London and The Middle East||Premier Deposit Account||One year||1.90% (expected profit rate)|
The top rate in the fixed term bond chart was still available this week, with UBL UK continuing to offer 2.47% gross on its 5 Year Fixed Term Deposit, which pays interest on maturity. This account requires an opening minimum deposit of £2,000 and can be opened and managed both in branch and by post. There is also a version of this account that pays interest on anniversary at a gross rate of 2.36% and a version that pays interest monthly at a gross rate of 2.33%.
Bank of London and The Middle East (BLME) remained at the top of the three, two and one year fixed bond charts this week with its Premier Deposit Account. The three-year version of this account pays an expected profit rate of 2.20% gross on anniversary, the two-year version pays an expected profit rate of 2.10% gross on anniversary and the one-year version pays an expected profit rate of 1.90% on maturity. All versions require an opening minimum deposit of £1,000 and must be opened online and then managed by post.
|Marcus by Goldman Sachs®||Online Savings Account||None||1.45% including a 0.10% bonus for 12 months)|
|Virgin Money||Double Take E-Saver Issue 12||None||1.45%|
|Virgin Money||Man Utd Double Take E-Saver Issue 7||None||1.45%|
During the week, Coventry Building Society dropped off the top of the easy access chart so that now both Marcus by Goldman Sachs ® and Virgin Money both offer the top AER rate of 1.45%. Virgin Money offers this rate on its Double Take E-Saver Issue 12 and Man Utd Double Take E-Saver Issue 7, both of which pay interest yearly. These accounts are online-only and can be opened with a minimum deposit of just £1. The accounts allow unlimited further additions, while withdrawals are restricted to two withdrawals per calendar year including closure. There are versions of both accounts that pay interest monthly at a slightly lower gross rate of 1.44%.
At the same time, Marcus by Goldman Sachs® offers 1.45% AER on its Online Savings Accounts – although as interest on this account is paid monthly, it in fact offers a gross rate of 1.44% – which includes a 0.10% bonus for 12 months. This account does not require a deposit to open, but a UK mobile number is needed. It allows unlimited further additions and withdrawals, and must be opened online but can then be managed by phone as well.
|PCF Bank||180 Day Notice Deposit||180 days||1.85%|
|Bank of London and The Middle East||90 Day Notice Account (Issue 1)||90 days||1.71% (expected profit rate)|
|Charter Savings Bank||60 Day Notice – Issue 12||60 days||1.53%|
|Aldermore||30 Day Notice Issue 7||30 days||1.30%|
PFC Bank’s chart-topping rate was still available to savers this week, with its 180 Day Notice Deposit continuing to offer 1.85% gross. Interest on this account is paid on anniversary and it requires a minimum opening deposit of £1,000. The account allows unlimited further additions, and withdrawals are also permitted but subject to 180 days’ notice. It can be opened online or by post and then managed online, by post and by phone.
Savers looking for a 90 day notice account will be pleased to see that BLME’s chart-topping rate is still available. BLME offers an expected profit rate of 1.70% gross on its 90 Day Notice Account (Issue 1), which pays profit quarterly. This online-only account requires a £10,000 minimum deposit to open and allows unlimited further additions, while withdrawals are permitted subject to 90 days’ notice.
Charter Savings Bank also continued to offer the top rate in the 60 day chart this week with its 60 Day Notice – Issue 12 paying 1.53% gross on an opening minimum deposit of £5,000. This account allows unlimited further additions and withdrawals are also allowed subject to 60 days’ notice. This account can only be opened and managed online. There is a version of this account that pays interest monthly at a lower gross rate of 1.52%.
Charter Savings Bank withdrew its 30 Day Notice – Issue 11 account during the week and, as a result, Aldermore was at the top of the chart by the end of the week with its 30 Day Notice Issue 7. This account pays 1.30% gross on anniversary. It requires an opening minimum deposit of £1,000 and allows unlimited further additions. Withdrawals are permitted subject to 30 days’ notice. 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 1.29%.
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.