The best savings rates this week 22 10 21 | moneyfacts.co.uk

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Michelle Monck

Michelle Monck

Consumer Finance Expert
Published: 22/10/2021

NS&I launched its new Green Savings Bond this week, a three year fixed rate bond at 0.65% gross. Savers can find higher rates for this fixed rate term, find out more in our article about Green Bonds. Meanwhile, Gatehouse Bank increased the rates on its four and five year fixed rate bonds.

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 22 October 2021 but can change at any time.

The best fixed rate bonds savings rates

Provider Account Term Rate AER  
Gatehouse Bank 5 Year Fixed Term Green Saver 5 years 2.05% expected profit rate Go to provider's site
JN Bank Fixed Term Savings Account 3 years 1.81% Go to provider's site
Al Rayan Bank Fixed Term Deposit 36 months 1.81% expected rate Find out more
Al Rayan Bank Fixed Term Deposit 24 months 1.76% expected profit rate Find out more
Al Rayan Bank Fixed Term Deposit 12 months 1.45% expected profit rate Find out more

The best five-year fixed rate bond available this week is from Gatehouse Bank. Its 5 Year Fixed Term Green Saver has an expected profit rate of 2.05% gross on anniversary. Savers can open this account online with a £1,000 deposit and then mange it online as well. This bond comes with the incentive that Gatehouse Bank will plant a tree in a UK woodland when an account is opened and funded.
JN Bank and Al Rayan Bank share the best rate for a three-year fixed rate bond this week at 1.81% gross. The Fixed Term Savings Account from JN Bank pays 1.81% gross on anniversary and can be opened online with a minimum deposit of £1,000. It can then be managed online as well. Al Rayan Bank and its Fixed Term Deposit pays 1.81% gross expected profit rate quarterly. It can be opened online, in branch, by phone or via mobile App with a £5,000 deposit and then managed by the same channels.
Al Rayan Bank also offers the best rates for two and one-year fixed rate bonds. Its Fixed Term Deposit offers a two year paying an expected profit rate of 1.76% gross quarterly and one year paying an expected profit rate of 1.45% gross quarterly. These accounts can be opened online, in branch by phone or on the Al Rayan Bank app with a minimum deposit of £5,000. They can then be managed in the same way.

Compare the best fixed rate bonds

The best easy access savings rates

Provider Account Max number of withdrawals Rate AER  
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 to 50 day loss of interest 0.65% Find out more
Shawbrook Bank Easy Access - Issue 27 Unlimited 0.62% Find out more

The top easy access savings account rate this week comes from Family Building Society. Its Premium Saver (4) pays 0.65% gross yearly. Savers can open this account with a £10,000 minimum deposit online and then manage the account online, in branch, by post and by phone. Savers can only add deposits to the account up to 3pm 5 November 2021. There is no limitation on the number of withdrawals which must be for a minimum of £100.
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.
Shawbrook Bank pays 0.62% gross on its Easy Access – Issue 27 account. Interest can be paid on anniversary or monthly. This account can be opened online with a minimum deposit of £1,000, it can then be managed online and by phone. There is no limitation on the number of withdrawals which must be for a minimum of £500 and made via a nominated account .
Savers looking for best easy access rates for monthly interest could also consider accounts from Marcus by Goldman Sachs ®, SAGA, Aldermore and Charter Savings Bank.

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

The best paying notice accounts this week didn’t change with Family Building Society, OakNorth Bank and Oxbury Bank all continuing to offer rates of 1.06% gross. The Capital 90 (1) account from Family Building Society has 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. Interest is paid at 1.06% gross yearly or 1.05% gross monthly. OakNorth Bank pays 1.06% gross monthly on its 120 Days Notice Deposit Account. Savers need a minimum deposit of £1 to open this online or by the OakNorth Bank app and then the account is managed by the same channels. Further additions are permitted, and withdrawals can be made subject to 120 days’ notice. Oxbury Bank also pays 1.06% gross monthly on its Personal 120 Day Notice Account – Issue 1. This has a £1,000 minimum deposit to open online and it can be managed online or using the Oxbury Bank app. The account allows further additions and withdrawals are permitted subject to 120 days’ notice and all transactions must be made via a nominated account. Savers should be aware that an Oxbury App is required to use online banking.

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.

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