The best savings rates this week 26.06.20 | moneyfacts.co.uk

Michelle Monck

Michelle Monck

Consumer Finance Expert
Published: 26/06/2020

The interest rates available to savers remain depressed, with further reductions being applied to many savings accounts in the past week.

The best fixed rate bonds savings rates

Provider

Account

Term

Rate AER

Bank of London and The Middle East

Premier Deposit Account

Seven years

1.70% (expected profit rate)

Bank of London and The Middle East

Premier Deposit Account

Five years

1.60% (expected profit rate)

Al Rayan Bank

Fixed Term Deposit

36 months

1.51% (expected profit rate)

Al Rayan Bank

Fixed Term Deposit

24 months

1.41% (expected profit rate)

Al Rayan Bank

Fixed Term Deposit

12 months

1.10% (expected profit rate)

Bank of London and The Middle East (BLME) continues to hold its top savings rates for the longest-term bonds, while Al Rayan Bank has also maintained the rate for its 24-month fixed rate bond, but has reduced its 12-month bond from 1.21% to 1.10%.
The fixed rate bonds from BLME can be opened with £1,000 online and then be managed by post. Savers will need to open a BLME transfer account to hold their funds prior to investment. The accounts from Al Rayan Bank can also be opened with £1,000, but can be both opened and managed online, in branch, by post, by phone and via its mobile app.

Fixed rate bonds

All the rates available can be found on our fixed rate bonds chart.

The best easy access savings rates

Provider

Account

Notice

Rate AER

National Savings & Investments

Income Bonds

None

1.16%

ICICI Bank UK

SuperSaver Savings Account

None

1.00%

National Savings & Investments

Direct Saver

None

1.00%

SAGA

Saga Easy Access Savings Account

None

1.00%

The easy access savings chart continues to see rates fall, with both Family Building Society and Cynergy Bank reducing the rates they had available last week.
There are now only four accounts paying 1.00% or more for easy access savings, with National Savings & Investments (NS&I) continuing to have the highest rate available at 1.16%. After this, savers can choose between ICICI Bank UK, another NS&I account or SAGA to get a rate of 1.00%.
Savers wanting to get the top easy access rate from NS&I’s Income Bonds will need a minimum investment of £500 and can open this account online, by post or by phone. All the other best easy access accounts can be opened with £1 online, with ICICI Bank UK also offering account opening in branch and by phone. The NS&I Direct Saver may also be opened by phone.
The rate of 1.00% available from SAGA’s Easy Access Savings Account includes a bonus of 0.20% for 12 months.

Easy access accounts

All the rates available can be found on our easy access accounts chart.

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.

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