The Best Savings Rates This Week 28.5.21 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 28/05/2021

Savers comparing top rates available this week to the previous week will notice that some top rates have changed, with slightly higher rates available in some fixed rate bond and notice account charts. Although this is positive to see, providers still seem cautious with the rates they are offering and the top-paying accounts may be reduced or withdrawn at any time meaning that savers may want to avoid hesitating to secure the best rates.

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 only 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

 

 

Aldermore


 5 Year Fixed Rate Account


 Five years


 1.45%

 

Go to provider’s site

Zopa

3 Year Fixed Term Savings

Three years

1.11%

Find out more

Bank of London and The Middle East
Zopa

Premier Deposit Account
 
 2 Year Fixed Term Savings

Two years
 
 
 Two years

1.00% (expected profit rate)
 
 1.00%

Go to the provider’s site
 
Find out more

SmartSave

Zopa

1 Year Fixed Rate Saver
1 Year Fixed Term Savings

One year
 
One year

0.86%

0.86%

Find out more
 
Find out more

 

New to the top of the fixed rate bond chart this week was Aldermore with its 5 Year Fixed Rate Account paying 1.45% gross on anniversary. This account requires a £1,000 minimum deposit to open. It can only be opened and managed online. There is also a version of this bond that pays interest monthly at a slightly lower gross rate of 1.44%.

Zopa topped the three year fixed rate bond chart this week paying 1.10% gross monthly on its 3 Year Fixed Term Savings which requires a £1,000 minimum deposit to open. Although interest is paid monthly on this account, it is only available on maturity. This account must be opened online but can then be managed online and via mobile app.

Both Bank of London and The Middle East (BLME) and Zopa had the top paying accounts in the two year fixed rate bond chart this week. BLME pays an expected profit rate of 1.00% gross on anniversary on its Premier Deposit Account. A £1,000 minimum deposit is needed to open this account, along with a BLME transfer account to hold funds pending investment. This account must be opened online and then managed by post. Zopa pays 0.99% gross monthly on its 2 Year Fixed Term Savings, which requires a £1,000 minimum deposit to open. Savers should be aware that while interest is added to this account monthly it is only available on maturity. The account must be opened online but can then be managed online and via mobile app.

The top-paying one year fixed rate bonds this week came from SmartSave and Zopa. SmartSave pays 0.86% gross on anniversary on its 1 Year Fixed Rate Saver which requires a £10,000 minimum deposit to open. This account must be opened and managed online. Zopa pays 0.85% gross monthly on its 1 Year Fixed Term Savings. Although interest is paid monthly it is only available on maturity. The account requires a £1,000 minimum deposit to open and must be opened online. It can be managed online and via mobile app.

Compare the best fixed rate bonds

The best easy access savings rates

 

Provider

Account

Maximum number of withdrawals allowed

Rate AER

 

Atom Bank

Instant Saver

Unlimited

0.50%

Find out more

ICICI Bank UK

SuperSaver Savings Account

Unlimited via linked ICICI Bank Current Account only

0.50%

Find out more

Virgin Money

Club M Saver

Unlimited via Club M Account or nominated account

0.50%

Find out more

 

Atom Bank, ICIC Bank UK and Virgin Money all continued to pay the top rate in the easy access savings chart on accounts available to new customers. Atom Bank pays 0.50% gross monthly on its Instant Saver, which does not require a minimum deposit to open. A UK current account is needed to open this account. It allows further additions and withdrawals. The account can only be opened and managed via mobile app.

ICICI Bank UK pays 0.50% gross monthly on its SuperSaver Savings Account. A deposit is not needed to open this account but a HomeVantage Current Account is needed. It allows further additions and withdrawals can be made 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.

Also paying 0.50% gross quarterly is Virgin Money’s Club M Saver. Again, no deposit is needed to open this account, although a Virgin Money Club M Account is required. Further additions can be made. 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

 

Shawbrook Bank

120 Day Notice Personal Account Issue 48

120 days

0.72%

Find out more

Allica Bank

95-Day Notice Personal Savings Account (Issue 1)

95 days

0.70%

Find out more

Charter Savings Bank

120 Day Notice – Issue 21
120 Day Notice Postal – Issue 21

120 days
 
120 days

0.67%
 
0.67%

Find out more
 
Find out more

 

The top paying notice account that is available to new customers this week was Shawbrook Bank’s 120 Day Notice Personal Account Issue 48, which pays 0.72% gross on anniversary. This account requires a £1,000 minimum deposit to open. It allows further additions and withdrawals can be made subject to 120 days’ notice. The account must 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 the same gross rate.

The next-best notice account rate came from Allica Bank, which pays 0.70% gross on anniversary on its 95-Day Notice Personal Savings Account (Issue 1). This account requires a £1,000 minimum deposit to open. It allows further additions and withdrawals are permitted subject to 95 days’ notice. It can only be opened online and then must be managed by phone.

Charter Savings Bank pays 0.67% gross on anniversary on both its 120 Day Notice – Issue 21 and 120 Day Notice Postal – Issue 21 accounts. To open these accounts a £5,000 minimum deposit is needed. They allow further additions via a nominated account and withdrawals can be made subject to 120 days’ notice. 120 Day Notice – Issue 21 can only be opened and managed online, while the postal option 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.

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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