The Best Savings Rates This Week 23 12 21 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 23/12/2021

Despite the Bank of England increasing base rate to 0.25% last week, little has changed at the top of the savings charts this week. It may take several weeks for the base rate rise to be passed onto savers, however, and some savings providers may not pass on the rate rise at all, which could see savings rates change little over the coming weeks. Savers looking to secure the best rates are urged to regularly check our savings charts to view the most competitive deals available.

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 12pm on Thursday 23 December 2021 but can change at any time.

The best fixed rate bonds savings rates

Provider Account Notice Rate AER  

QIB (UK)


Secure Trust Bank

Raisin UK - 5 Year Fixed Term Deposit
5 Year Fixed Rate Bond

Five years


26.01.27

2.10% (expected profit rate)

2.10%

Find out more


Find out more

QIB (UK)


Zenith Bank (UK) Ltd

Raisin UK - 3 Year Fixed Term Deposit
3 Year Fixed Term Deposit

Three years


Three years

1.85% (expected profit rate)

1.85%

Go to provider’s site

Go to provider’s site

Bank of London and The Middle East
Paragon Bank

Gatehouse Bank

Premier Deposit Account

2 Year Fixed Rate Savings account

2 Year Fixed Term Woodland Saver

Two years

Two years

Two years

1.60% (expected profit rate)

1.60%

1.60% (expected profit rate)

Go to provider's site

Go to provider's site

Find out more

Gatehouse Bank 1 Year Fixed Term Woodland Saver One year 1.41% (expected profit rate) Find out more

 

Both QIB (UK) and Secure Trust Bank have the top paying fixed bond rates this week. QIB (UK) pays an expected profit rate of 2.10% gross on maturity on its Raisin UK – 5 Year Fixed Term Deposit. This account requires a £1,000 minimum deposit to open, and benefits from Raisin UK paying a welcome bonus of £50 when a saver opens their first savings account via its website (terms and conditions apply). The account must be opened online but can then be managed online, by post and by phone. Secure Trust Bank pays 2.10% gross yearly on its 5 Year Fixed Rate Bond. A £1,000 minimum deposit is needed to open this account, which can only be opened online but can then be managed online and by phone.

QIB (UK) and Zenith Bank (UK) Ltd both have the top rate in our three year fixed rate bond chart this week. QIB (UK) pays an expected profit rate of 1.85% gross on maturity on its Raisin UK – 3 Year Fixed Term Deposit. As with the five year version of this account, a £1,000 minimum deposit is needed to open the account and it benefits from Raisin UK’s £50 welcome bonus (terms and conditions apply). The account can only be opened online but can be managed online, by post and by phone. Zenith Bank (UK) Ltd pays 1.85% gross on anniversary on its 3 Year Fixed Term Deposit account, which requires a £1,000 minimum deposit to open. This account must be opened online and can only be managed by post.

This week, the best paying two year fixed rate comes from Bank of London and The Middle East (BLME), Paragon Bank and Gatehouse Bank. BLME pays an expected profit rate of 1.60% gross on anniversary on its Premier Deposit Account. A £1,000 minimum deposit is required to open this account, along with a BLME transfer account to hold funds pending investment. This account can only be opened online and managed by post. Paragon Bank pays 1.60% gross on anniversary on its 2 Year Fixed Rate Savings Account, which requires a £1,000 minimum deposit to open. This account can be opened and managed online and by post. There is also a version of this account that pays interest monthly at a slightly lower gross rate of 1.59%. Gatehouse Bank pays an expected profit rate of 1.60% gross on anniversary on its 2 Year Fixed Term Woodland Saver. A £1,000 minimum deposit is needed to open this account, which must be opened and managed online.

The top paying one year fixed bond rate this week comes from Gatehouse Bank, which pays an expected profit rate of 1.41% gross on maturity on its 1 Year Fixed Term Woodland Saver. A £1,000 minimum deposit is needed to open this account. It can only 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  
Investec Bank plc Online Flexi Saver Unlimited 0.71% Go to provider’s site
Cynergy Bank Online Easy Access Account (Issue 43) Unlimited via a nominated account 0.70% includes a 0.40% bonus for 12 months Find out more
Shawbrook Bank Easy Access - Issue 28 Unlimited via a nominated account 0.67% Find out more

 

The top paying easy access savings account this week comes from Investec Bank plc which pays 0.71% gross monthly on its Online Flexi Saver. A £5,000 minimum deposit is needed to open this account, which allows further additions and withdrawals. The account can only be opened and managed online.

Cynergy Bank has the next best easy access savings account rate with its Online Easy Access Account (Issue 43) paying 0.70% gross on anniversary, including a 0.40% bonus for 12 months. This account requires a minimum deposit of just £1 to open and a Cynergy Bank authenticator app or digipass is needed to open and manage the account. It allows further additions and withdrawals can be made via a nominated account. It must be opened and managed online.

The third best rate in our easy access savings account chart this week comes from Shawbrook Bank, which pays 0.67% gross on anniversary or monthly on its Easy Access – Issue 28. This account requires a £1,000 minimum deposit to open. It allows further additions and withdrawals are permitted via a nominated account. It must be opened online but can then be managed online and by phone.

Compare the best easy access accounts

The best notice account rates

Provider Account Notice Rate AER  

Oxbury Bank


Secure Trust Bank

Personal 120 Day Notice Account - Issue 3
120 Day Notice Account

120 days


120 days

1.10%


1.10%

Find out more


Find out more

Secure Trust Bank 60 Day Notice Account 60 days 0.85% Find out more

 

Both Oxbury Bank and Secure Trust Bank pay the top notice account rate this week. Oxbury Bank pays 1.10% gross monthly on its Personal 120 Day Notice Account – Issue 3, which requires a £1,000 minimum deposit to open. This account allows further additions and withdrawals can be made via a nominated account subject to 120 days’ notice. It must be opened online but can then be managed online and via mobile app. Secure Trust Bank pays 1.10% gross quarterly on its 120 Day Notice Account. A £1,000 minimum deposit is needed to open this account, which allows further additions. Withdrawals are restricted to four interest and three capital withdrawals per annum on 120 days’ notice. The account can only be opened online but can then be managed online and by phone.

Savers looking for a notice account with a lower notice period will find that in our up to 60 days notice account chart, Secure Trust Bank has the top rate paying 0.85% gross quarterly on its 60 Day Notice Account. This account requires a £1,000 minimum deposit to open. Further additions can be made. Similar to the 120 day version, withdrawals are restricted to four interest and three capital withdrawals per annum on 60 days’ notice. The account must be opened online but can be managed online and by phone.

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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