The best savings rates this week 23 07 21 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 23/07/2021

Banks and building societies have continued to launch new savings accounts and increase rates this week, most notably Coventry Building Society which now tops the easy access savings chart with its recently launched Limited Access Saver (Online) (5). Meanwhile, JN Bank increased the rate on its five year fixed bond today, resulting in it topping the 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

 

 JN Bank

Fixed Term Savings Account

Five years

1.70

Find out more

UBL UK
 
Tandem Bank

3 Year Fixed Term Deposit
Tandem 3 Year Fixed Saver

Three years
 
Three years

1.36%
 
1.36%

Go to provider’s site
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

 

New to the top of the fixed rate bond chart today was JN Bank, which pays 1.70% gross on anniversary on its Fixed Term Savings Account. This account requires a £1,000 minimum deposit to open. It must be opened and managed online. Savers should be aware that although JN Bank pays the top AER, UBL UK’s 5 Year Fixed Term Deposit pays a higher gross rate of 1.72% on maturity. This account requires a £2,000 minimum deposit to open. It 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.

Topping the three year fixed bond chart this week was UBL UK with its 3 Year Fixed Term Deposit paying 1.38% gross on maturity. There are also versions of these accounts that pay 1.36% gross on anniversary and 1.35% 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. Tandem Bank pays 1.36% gross on anniversary on its Tandem 3 Year Fixed Saver, which requires a £1 minimum deposit to open. It can only be opened and managed via mobile app.

QIB (UK) topped the two year fixed rate bond chart paying an expected profit rate of 1.25% gross on maturity on its Raisin UK – 2 Year Fixed Term Deposit. A £1,000 minimum opening deposit is needed to open this account. It must be opened online but can be managed online, by post or by phone.

The top one year fixed bond rate this week came from Gatehouse Bank which pays 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 and benefits from the incentive of Gatehouse Bank planting a tree in a UK woodland when the account is opened and funded. It 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

 

Coventry Building Society

Limited Access Saver (Online) (5)

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

0.55%

Find out more

Leeds Building Society

Limited Issue Online Access Account (Issue 20)

Unlimited but all withdrawals are 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

Coventry Building Society

Limited Access Saver (4)

6 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 but all withdrawals 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

2 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

Withdrawals via a nominated account

0.50% includes a 0.10% bonus for 12 months

Find out more

Virgin Money

Club M Saver

All withdrawals via Club M Account or nominated account

0.50%

Find out more

 

New to the top of the easy access savings account chart this week was Coventry Building Society which pays 0.55% gross on anniversary on its Limited Access Saver (Online) (5). This account requires a £1 minimum deposit to open and allows further additions. Up to six penalty-free withdrawals can be made per annum and all further withdrawals are subject to 50 days’ loss of interest. This account must be opened and managed online.

Eight accounts pay the second-best easy access savings account rate this week. 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. The account allows further additions while the issue remains open and withdrawals which must be made via a nominated account. This account matures on 31 August 2022, after which it reverts to an instant access maturity account. It must be opened and managed online. Leeds Building Society also pays 0.50% gross yearly on its Double Access Saver, which requires a £5,000 minimum deposit to open. Further additions are allowed but withdrawals are restricted to two per calendar year, there is then a 30 days’ loss of interest on all further withdrawals. It can be opened and managed in branch and by post.

SAGA pays 0.50% gross monthly, including a 0.10% bonus for 12 months, on its Saga Easy Access Savings Account. This account does not need a deposit to open. It allows further additions and withdrawals. The account can be opened online and then managed online and by phone.

Limited Access Saver (4) from Coventry Building Society pays 0.50% gross on anniversary. This account requires a £1 minimum deposit to open and allows further additions. Withdrawals are limited to six penalty-free withdrawals per annum and all further withdrawals are subject to 50 days’ loss of interest. It can be opened and managed online, in branch, by post and by phone.

Cynergy Bank pays 0.50% gross on anniversary on its Online Easy Access Account (Issue 40), which includes a 0.20% bonus for 12 months. It requires a £1 minimum deposit to open, along with a Cynergy Bank Authenticator App or Digipass. Further additions are allowed and withdrawals can be made via a nominated account. It can only be opened and managed online.

Also paying 0.50% gross monthly was ICICI Bank UK’s SuperSaver Savings Account, which does not require a deposit to open but a HomeVantage Current Account is needed. This account allows further additions and withdrawals can be 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.

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

Virgin Money pays 0.50% gross quarterly on its Club M Saver. A deposit is not needed to open this account but a Virgin Money Club M Account is required. It allows further additions and withdrawals can be made 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 10)

95 days

0.80%

Go to provider’s site

Secure Trust Bank

90 Day Notice Account

90 days

0.80%

Find out more

 

Two accounts had the best paying notice account rate this week. Hampshire Trust Bank pays 0.80% gross on anniversary on its 95 Day Notice (Issue 10), which requires a £1,000 minimum deposit to open. This account allows further additions and withdrawals can be made subject to 95 days’ notice and via a nominated account. It must be opened online and then managed online, by post and by phone.

Secure Trust Bank pays 0.80% gross quarterly on its 90 Day Notice Account. A £1,000 minimum deposit is needed to open this account, which allows further additions. Withdrawals are restricted to four interest withdrawals per annum and three capital withdrawals per annum subject to 90 days’ notice. It can be opened online and then managed online and by phone.

Compare the best notice accounts

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