The best savings rates this week 27.03.20 | moneyfacts.co.uk
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Derin Clark

Derin Clark

Online Reporter
Published: 27/03/2020

After two weeks of consecutive base rate cuts, there was a little good news for savers this week as inflation fell to 1.7% and yesterday the Bank of England held base rate at 0.10%. In addition to this, there have been new higher top rates available in the three, two and one year fixed rate bond charts this week, as well as the easy access chart.

The best fixed rate bonds savings rates

Provider Account Term Rate AER
Gatehouse Bank Fixed Term Deposit Five years 2.00% (expected profit rate)
Secure Trust Bank 3 Year Fixed Rate Bond 28.04.23 1.81%
Bank of London and The Middle East Premier Deposit Account Two years 1.75% (expected profit rate)
Bank of London and The Middle East
Vanquis Bank
Premier Deposit Account
Vanquis Bank Savings

One year

One year

1.60% (expected profit rate)
1.60%

Gatehouse Bank topped the fixed rate bond chart once again this week, with its Fixed Term Deposit paying an expected profit rate of 2.00% gross on anniversary. This account requires a minimum deposit of £1,000 to open and can only be opened and managed online.

Offering the highest three year fixed rate on an account without opening restrictions was Secure Trust Bank. Its 3 Year Fixed Rate Bond pays 1.81% gross, which requires a minimum opening deposit of £1,000. It can only be opened online but can then be managed online and by phone.

Bank of London and The Middle East (BLME) increased the rate on its Premier Deposit Account today, which resulted in it offering the top rate on an account without opening restrictions in the two year fixed rate bond chart. Premier Deposit Account pays an expected profit rate of 1.75% gross on anniversary. This account requires a minimum opening deposit of £1,000. To open this account, a BLME transfer account to hold funds pending investment is needed. It can only be opened online and then managed by post.

Two providers offered the top rate on a one year fixed rate bond this week. BLME pays an expected profit rate of 1.60% gross on anniversary on its Premier Deposit Account. To open this account, a minimum opening deposit of £1,000 is needed. As well as this, a BLME transfer account to hold funds pending investment is required to open this account. It can be opened online and then managed by post. Vanquis Bank also pays 1.60% gross on anniversary on Vanquis Bank Savings. This account requires a minimum deposit of £1,000 to open. It can be opened online and then managed online, by post and by phone. There is also a version of this account that pays interest monthly at a slightly lower gross rate.

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
Ford Money Flexible Saver None 1.35%
Virgin Money Double Take E-Saver Issue 14 None 1.31%
Marcus by Goldman Sachs®
SAGA
Online Savings Account
Saga Easy Access Savings Account

None

None

1.30%

1.30%

Ford Money topped the easy access chart overall this week, offering a rate of 1.35% gross on anniversary on its Flexible Saver. Savers should note that this account is only available to existing customers. To open this account, a £1 minimum deposit is needed. It allows unlimited further additions and withdrawals. This account can be opened online or by phone and then only managed online.

The top rate on an easy access account without opening restrictions came from Virgin Money this week. Its Double Take E-Saver Issue 14 pays 1.31% gross yearly. To open this account, a minimum deposit of just £1 is needed. It allows unlimited further additions, but restricts withdrawals to two per calendar year including closure. This account can only be opened and managed online. There is a version of this account that pays interest monthly at a slightly lower gross rate.

Both Marcus by Goldman Sachs® and SAGA offered the third-best easy access rate this week. Marcus by Goldman Sachs® pays 1.29% gross monthly on its Online Savings Account. This account does not require a minimum deposit to open, but a UK mobile number is needed. It accepts unlimited further additions and allows withdrawals. SAGA pays 1.29% gross monthly, which includes a 0.20% bonus for 12 months on its Saga Easy Access Savings Account. This account requires a minimum deposit of £1 to open and also allows unlimited further additions and withdrawals. Both accounts can only be opened online and then managed online and by phone.

Easy access accounts

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

The best notice accounts rates

Provider Account Notice Rate AER
ICICI Bank UK HiSAVE Notice Savings Account
Raisin UK – 95 Day Notice Account

95 days

95 days

1.60%

1.60%

ICICI Bank UK HiSAVE Notice Savings Account
Raisin UK – 45 Day Notice Account

45 days

45 days

1.40%

1.40%

Secure Trust Bank 30 Day Notice Account 30 days 1.31%

The top-paying notice account came from ICICI Bank UK this week. Both the 95-day version of its HiSAVE Notice Savings Account and its Raisin UK – 95 Day Notice Account top the notice account chart overall, paying 1.59% gross monthly. In addition to this, the 45-day option of its HiSAVE Notice Savings Account and its Raisin UK – 45 Day Notice Account both top the up to 60 day chart, paying 1.39% gross monthly. Both options of the HiSAVE Notice Savings Account require a minimum deposit of £1 to open. They allow unlimited further additions. Withdrawals are permitted but can only be made through a linked ICICI Bank current account. In addition to this, withdrawals on the 95-day option are subject to 95 days’ notice and on the 45-day option to 45 days’ notice. Both options are available to new and existing HomeVantage Current Account customers and can be opened and managed online, in branch and by phone.

To open either a Raisin UK – 95 Day Notice Account or the Raisin UK – 45 Day Notice Account, a minimum deposit of £1,000 is needed. Both these accounts allow further additions. These accounts do not permit partial withdrawals, but withdrawals of the full account balance are allowed subject to closure and 95 days’ notice on the Raisin UK – 95 Day Notice Account and 45 days’ notice on the Raisin UK – 45 Day Notice Account. Both accounts can only be opened online but can then be managed online, by post and by phone.

Secure Trust Bank offered the best rate in the up to 30 days’ notice chart this week. Its 30 Day Notice Account pays 1.31% gross quarterly. This account requires a minimum deposit of £1,000 to open and allows unlimited further additions. It allows four interest withdrawals per annum and three capital withdrawals are permitted per annum subject to 30 days’ notice. This account can only be opened online but can then be managed online and by phone.

Notice accounts

All the rates available can be found on our notice 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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