The Best Savings Rates This Week 24.09.21 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 24/09/2021

This week saw Recognise Bank enter the savings charts for the first time, making headlines by offering a chart-topping rate of 2% AER on its five year fixed rate bond. Meanwhile, both Coventry Building Society and Family Building Society launched new easy access savings accounts this week, resulting in these accounts taking joint-top spot in 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.

Information about accounts and rates are correct at 11.30am on Friday 24 September 2021 but can change at any time.

The best fixed rate bonds savings rates

Provider Account Term Rate AER  
Recognise Bank 5 Year Fixed Rate Account Five years 2.00% Find out more
Al Rayan Bank Fixed Term Deposit 36 months 1.81% (expected profit rate) Go to provider’s site
Al Rayan Bank Fixed Term Deposit 24 months 1.76% (expected profit rate) Go to provider’s site
Gatehouse Bank Fixed Term Green Saver One year 1.51% (expected profit rate) Go to provider’s site

 

New to the top of the fixed rate bond chart this week was Recognise Bank with its 5 Year Fixed Rate Account. This account pays 2.00% gross on anniversary and requires a £1,000 minimum deposit to open. It 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 1.98%.

Al Rayan Bank topped both the three and two year fixed rate bond charts this week. The 36 month version of its Fixed Term Deposit pays an expected profit rate of 1.81% gross quarterly, while the 24 month version pays an expected profit rate of 1.76% gross quarterly. Both accounts require a £5,000 minimum deposit to open and can be opened and managed online, in branch, by phone and via mobile app.

Gatehouse Bank increased the rate on its one year fixed rate bond today, resulting in it topping the one year chart. 1 Year Fixed Term Green Saver pays an expected profit rate of 1.51% gross on maturity. A £1,000 minimum deposit is needed to open this account, which comes with a green incentive that sees a tree planted in a UK woodland for every account opened and funded. The account 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  
Family Building Society



Coventry Building Society
Premium Saver (4)



Four Access Saver

Unlimited

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

0.65%




0.65%

Go to provider’s site




Find out more

Aldermore


Buckinghamshire Building Society

Double Access Account Issue 1

Single Access Saver

Lower rate paid if more than 2 withdrawals pa

1 penalty free withdrawal permitted per annum. Account closed upon 2nd withdrawal

0.60%


0.60%

Go to provider’s site

Find out more

 

Both Family Building Society and Coventry Building Society paid the top rate in the easy access savings chart this week. Family Building Society pays 0.65% gross yearly on its Premium Saver (4) which requires a £10,000 minimum deposit to open. This account allows further additions until 5th November 2021 and unlimited withdrawals from a minimum of £100. It must be opened online but can then be managed online, in branch, by post and by phone. 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 a 50 days’ loss of interest. It can be opened and managed online, in branch, by post or by phone.

The next-best easy access savings rate comes from both Aldermore and Buckinghamshire Building Society. Aldermore pays 0.60% gross on anniversary or monthly on its Double Access Account Issue 1, which requires a £1,000 minimum deposit to open. This account allows further additions, but withdrawals are restricted to two withdrawals per annum, after which a lower rate of 0.10% is paid. It can only be opened and managed online. Buckinghamshire Building Society pays 0.60% gross yearly on its Single Access Saver, which can be opened with a minimum deposit of £100. This account allows further additions. Withdrawals are restricted to one penalty-free withdrawal per annum, the account is closed on the second withdrawal. It can be opened and managed in branch and by post.

Compare the best easy access accounts

The best notice account rates

Provider Account Notice Rate AER  

OakNorth Bank

Oxbury Bank

120 Days Notice Deposit Account
Personal 120 Day Notice Account – Issue 1

120 days

120 days

1.06%

1.06%

Find out more

Find out more

Secure Trust Bank 90 Day Notice Account 90 days 1.05% Find out more
Secure Trust Bank 30 Day Notice Account 30 days 0.70% Find out more

 

Both OakNorth Bank and Oxbury Bank paid the top rate in the notice charts this week. OakNorth Bank pays 1.06% gross monthly on its 120 Days Notice Deposit Account, which requires a £1 minimum deposit to open. This account allows further additions and withdrawals can be made subject to 120 days’ notice. It can be opened and managed online and via mobile app. Oxbury Bank pays 1.06% gross monthly on its Personal 120 Day Notice Account – Issue 1. A £1,000 minimum deposit is needed to open this account, along with an Oxbury App which is required to use online banking. Again, it allows further additions and withdrawals are permitted subject to 120 days’ notice – all transactions must be made via a nominated account. The account can only be opened online but can be managed online and via mobile app.

Savers looking for a lower notice period on withdrawals will find that Secure Trust Bank had the top rate on accounts that require 90 and 30 days’ notice. Its 90 Day Notice Account pays 1.05% gross quarterly and its 30 Day Notice Account pays 0.70% gross quarterly. Both accounts require a £1,000 minimum deposit to open and allow further additions. Withdrawals can be made subject to 90 days’ notice on the 90 day version and 30 days’ notice on the 30 day option, but savers should be aware that only four interest withdrawals are permitted per annum and three capital withdrawals can be made per annum on both accounts. They must be opened online but can be managed online and by phone.

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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