The Best Savings Rates this week 25 11 21 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 25/11/2021

Cynergy Bank caught many savers’ attention this week when it increased the rate on its easy access savings account to now top the chart with a rate of 0.70% AER. This is one of the highest easy access savings rates that has been available for 12 months and may be a sign that more competitive rates may start to become available in this chart. There were also positive signs in the fixed rate bond charts this week with new higher rates now available on both three and one 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 2pm on Thursday 25 November 2021 but can change at any time.

The best fixed rate bonds savings rates

Provider Account Term Rate AER  

UBL UK


Gatehouse Bank


Secure Trust Bank

Raisin UK - 5 Year Fixed Term Deposit

5 Year Fixed Term Woodland Saver

5 Year Fixed Rate Bond

Five years


Five years


04.01.27

2.05%


2.05% (expected profit rate)

2.05%

Go to provider’s site

Find out more


Find out more

SmartSave 3 Year Fixed Rate Saver Three years 1.83% Find out more
SmartSave

Zopa
2 Year Fixed Rate Saver
2 Year Fixed Term Savings

Two years

Two years

1.61%

1.61%

Find out more

Find out more

Investec Bank plc Fixed Rate Saver One year 1.36% Go to provider’s site

 

Three accounts pay the top fixed bond rate this week. UBL UK pays 2.05% gross on maturity on its Raisin UK – 5 Year Fixed Term Deposit account, which requires a £1,000 minimum deposit to open. This account benefits from Raisin UK offering a welcome bonus of £50 when savers open their first savings account via its website (terms and conditions apply). The account must be opened online but can be managed online, by post and by phone. Gatehouse Bank pays an expected profit rate of 2.05% gross on anniversary on its 5 Year Fixed Term Woodland Saver. A £1,000 minimum deposit is needed to open this account and it must be opened and managed online. The account benefits from Gatehouse Bank planting a tree in a UK woodland when an account is opened and funded, the trees are planted in UK woodland projects certified by the Government’s Woodland Carbon Code. Secure Trust Bank’s 5 Year Fixed Rate Bond matures on 4 January 2027, pays 2.05% gross yearly and requires a £1,000 minimum deposit to open. It must be opened online but can then be managed online and by phone.

The top three year fixed bond rate this week comes from SmartSave, which pays 1.83% gross on anniversary on its 3 Year Fixed Rate Saver account. A £10,000 minimum deposit is needed to open this account, which can only be opened and managed online.

SmartSave also has one of the top paying rates in the two year fixed bond chart this week. Its 2 Year Fixed Rate Saver pays 1.61% gross on anniversary. Again, it requires a £10,000 minimum deposit to open and must be opened and managed online. Another top paying two year bond account this week comes from Zopa, which pays 1.59% gross monthly on its 2 Year Fixed Term Savings account. This account requires a £1,000 minimum deposit to open. It must be opened online but can then be managed online and via mobile app. Savers should be aware that although interest is added to the account monthly it is paid on maturity.

The top-paying one year fixed rate bond this week comes from Investec Bank plc which pays 1.36% gross on maturity on its Fixed Rate Saver. This account requires a £5,000 minimum deposit to open and 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  
Cynergy Bank Online Easy Access Account (Issue 43) Unlimited via a nominated account 0.70%, including 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
Paragon Bank Triple Access Account (Issue 5) (0-3 withdrawals pa) Lower rate paid if more than 3 withdrawals in 12 month period 0.65% Find out more

 

New to the top of the easy access chart this week is Cynergy Bank 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 £1 minimum deposit to open. Savers also need a Cynergy bank Authenticator App or Digipass to open and manage this account. It allows further additions and withdrawals can be made via a nominated account. It must be opened and managed online.

The next best easy access savings rate this week comes from Shawbrook Bank, which pays 0.67% gross on anniversary or monthly. A £1,000 minimum deposit is needed to open the account. Further additions are permitted, and withdrawals can be made subject to a minimum of £500 with all transactions made via a nominated account. This account can only be opened online but can then be managed online and by phone.

Paragon Bank’s Triple Access Account (Issue 5) (0-3 withdrawals pa) has the third-best rate paying 0.65% gross on anniversary or monthly. To open this account a £1 minimum deposit is needed and it allows further additions via a nominated account. Withdrawals are restricted to three in a 12 month period, if more than three withdrawals are made a lower rate of interest is paid. The account can only be opened and managed online.

Compare the best easy access accounts

The best notice account rates

Provider Account Notice Rate AER  
Secure Trust Bank 120 Day Notice Account 120 days 1.10% Find out more
Shawbrook Bank 120 Day Notice Personal Account Issue 50 120 days 1.08% Find out more
Secure Trust Bank 60 Day Notice Account 60 days 0.85% Find out more

 

The top notice account rate this week comes from Secure Trust Bank, which pays 1.10% gross quarterly on its 120 Day Notice Account. It requires a £1,000 minimum deposit to open and allows further additions which must be for a minimum of £1,000. Four interest withdrawals can be made per annum and three capital withdrawals on 120 days’ notice. The account must be opened online but can then be managed online and by phone.

Shawbrook Bank has the next best notice account rate paying 1.08% gross on anniversary on its 120 Day Notice Personal Account Issue 50. A £1,000 minimum deposit is needed to open this account, which allows further additions. Withdrawals can be made subject to 120 days’ notice. It can only be opened online but can then be managed online and by phone. There is also a version of this account that pays interest monthly at a slightly lower gross rate of 1.07%.

Savers looking for a shorter notice term will find that Secure Trust Bank has the best rate in the up to 60 days notice account chart. Its 60 Day Notice Account pays 0.85% gross quarterly and a minimum deposit of £1,000 is needed to open the account. Further additions can be made but must be for a minimum of £1,000. Withdrawals are restricted to four interest withdrawals per annum and three capital withdrawals subject to 60 days’ notice. The account must be opened online and then 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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