The Best Savings Rates This Week 25 06 21 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 25/06/2021

A number of savings accounts were launched and existing rates increased, especially within the fixed rate bond charts this week. This has resulted in new accounts now topping the five, three, two and one year fixed rate bond charts. Although the top easy access savings rates have not seen similar competition this week we highlighted the need for savers to switch easy access savings accounts to ensure that they are getting the best rate possible.

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

 

Shawbrook Bank

7 Year Fixed Rate Bond Issue 9

Seven years

1.65%

Find out more

Gatehouse Bank
 
Wesleyan Bank

Fixed Term Green Saver
Fixed Rate Deposit Account

Five years
 
Five years

1.60% (expected profit rate)
1.60%

Find out more
 
Find out more

Wesleyan Bank

Fixed Rate Deposit Account

Three years

1.30%

Find out more

Gatehouse Bank

Fixed Term Green Saver

Two years

1.20% (expected profit rate)

Find out more

Gatehouse Bank

Fixed Term Green Saver

One year

1.10% (expected profit rate)

Find out more

 

Topping the fixed rate bond chart this week was Shawbrook Bank, which pays 1.65% gross on anniversary on its 7 Year Fixed Rate Bond Issue 9. This account requires a £1,000 minimum deposit to open. It must be opened online but can then be managed online and by phone. There is a version of this account that pays interest monthly at a slightly lower gross rate of 1.64%.

The top rate in the five year fixed bond chart this week came from Gatehouse Bank and Wesleyan Bank. Gatehouse Bank pays an expected profit rate of 1.60% gross on anniversary on its Fixed Term Green Saver, which requires a £1,000 minimum deposit to open. This account has 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. Wesleyan Bank pays 1.60% gross on anniversary on its Fixed Rate Deposit Account. To open this account a £1,000 minimum deposit is needed. It can only be opened and managed online. Although UBL UK has a slightly lower rate of 1.55% AER on its 5 Year Fixed Term Deposit, it has a version of this account that pays 1.60% gross on maturity – more information about this account is available here. Wesleyan Bank was new to the top of the three year fixed rate bond chart this week paying 1.30% gross on anniversary on its Fixed Rate Deposit Account. This account requires a £1,000 minimum deposit to open and must be opened and managed online.

Gatehouse Bank topped both the one and two year fixed rate bond charts this week with its Fixed Term Green Saver. The two year version of this account pays an expected profit rate of 1.20% gross on anniversary and the one year option pays an expected profit rate of 1.10% gross on maturity. Both versions require a £1,000 minimum deposit to open. They can only be opened and managed online. These accounts have the incentive of Gatehouse Bank planting a tree in a UK woodland when the account is opened and funded.

Compare the best fixed rate bonds

The best easy access savings rates

 

Provider

Account

Maximum number of withdrawals allowed

Rate AER

 

Charter Savings Bank

Easy Access - Issue 21

Unlimited

0.50%

Find out more

Charter Savings Bank

Easy Access Postal - Issue 21

Unlimited

0.50%

Find out more

Cynergy Bank

Online Easy Access Account (Issue 40)

Unlimited via a nominated account

0.50% (includes 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

Virgin Money

Club M Saver

Unlimited but all withdrawals via Club M Account or nominated account

0.50%

Find out more

 

This week five accounts had the top-paying easy access savings account rate. Charter Savings Bank pays the top rate of 0.50% gross on anniversary on both its Easy Access – Issue 21 and Easy Access Postal – Issue 21 accounts. Both these accounts require a £5,000 minimum deposit to open. They allow further additions via a nominated account and withdrawals. The Easy Access – Issue 21 account can only be opened and managed online, whereas the postal version can be opened online or by post but must be managed by post. There are versions of both accounts that pay interest monthly at the same gross rate.

Cynergy Bank pays 0.50% gross, which includes a bonus of 0.20% for 12 months, on its Online Easy Access Account (Issue 40). This account requires a minimum opening deposit of just £1, but 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. The account must be opened and managed online.

SuperSaver Savings Account from ICICI Bank UK pays 0.50% gross monthly and does not need a deposit to open, although a HomeVantage Current Account is needed. It allows further additions andwithdrawals but all transactions must 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.

Virgin Money’s Club M Saver pays 0.50% gross quarterly. Again, no deposit is needed to open this account but a Virgin Money Club M account is required. Further additions are allowed. Withdrawals are permitted 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

 

Secure Trust Bank

120 Day Notice Account

120 days

0.75%

Find out more

Charter Savings Bank
Charter Savings Bank
Shawbrook Bank

120 Day Notice - Issue 22
120 Day Notice Postal - Issue 22
120 Day Notice Personal Account Issue 48

120 days
 
120 days
 
120 days

0.72%
 
0.72%
 
0.72%

Find out more
 
Find out more
 
Find out more

Paragon Bank
 
 
Allica Bank

120 Day Notice Account (Issue 22)
95-Day Notice Personal Savings Account (Issue 1)

120 days
 
 
95 days

0.70%
 
 
0.70%

Go to provider’s site
 
Find out more

 

The top notice account rate this week came from Secure Trust Bank which pays 0.75% gross quarterly on its 120 Day Notice Account. To open this account a £1,000 minimum deposit is needed and it allows further additions subject to a minimum of £1,000. Up to four interest withdrawals can be made per annum and three capital withdrawals per annum on 120 days’ notice. The account must be opened online but can be managed online and by phone.

Two banks pay the next best notice account rate of 0.72%. Charter Savings Bank pays 0.72% gross on anniversary on both its 120 Day Notice – Issue 22 and its 120 Day Notice Postal – Issue 22 accounts. These accounts require a £5,000 minimum deposit to open. They allow further additions via a nominated account and withdrawals are permitted subject to 120 days’ notice. The 120 Day Notice – Issue 22 account can only be opened and managed online, whereas the postal version can be opened online or by post but must be managed by post. There are also versions of both accounts that pay interest monthly at the same gross rate. Shawbrook Bank also pays 0.72% gross on anniversary on its 120 Day Notice Personal Account Issue 48. To open this account a £1,000 minimum deposit is needed. It allows further additions and withdrawals can be made subject to 120 days’ notice. The account must be opened online but can be managed online and by phone. There is also a version of this account that pays interest monthly at the same gross rate.

The next best notice rate this week comes from Paragon Bank and Allica Bank. Paragon Bank pays 0.70% gross on anniversary on its 120 Day Notice Account (Issue 22). This account requires a £500 minimum deposit to open. It allows further additions and withdrawals are permitted subject to 120 days’ notice with all transactions made via a nominated account. The account must be opened and managed online. There is a version of the account that pays interest monthly at the same gross rate. Allica Bank’s 95-Day Notice Personal Savings Account (Issue 1) pays 0.70% gross on anniversary. It requires a £1,000 minimum deposit to open and allows further additions. Withdrawals can be made subject to 95 days’ notice. The account must be opened online and can only be managed 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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