The best savings rates this week 29.11.19

Savers may be pleased to see that there’s been little change in the charts since last week. The top rates are still holding steady, with no sudden drops to vex those looking for a safe harbour for their cash. As mentioned last week, it’s been speculated that we may see a continuation of the downward trend of savings rates as we move toward the end of the year. Savers looking to lock into the best deals might be wise to act sooner rather than later.

UBL UK remains the top performer for long-term fixed rate bonds offering an interest rate of 2.36% AER on the anniversary of opening or at maturity. There is also a monthly version that pays 2.33% gross for those looking for a regular income option. The minimum deposit is £2,000 and this account can be opened and managed in branch or by post.

Bank of London and the Middle East (BLME) continues to dominate the chart for three, two and one-year bonds. Paying expected profit rates of 2.20% AER, 2.10% AER and 1.90% AER respectively, all three of these products can be opened online with a minimum deposit of £1,000 and managed thereafter by post.

There are no changes in the best easy access chart this week, with Marcus by Goldman Sachs® and Virgin Money continuing to offer the top rate of 1.45% AER. They are slightly differentiated by the Marcus by Goldman Sachs® product being inclusive of a 0.10% bonus for 12 months, while the Virgin Double Take E-Saver Issue 12 and Man Utd Double Take E-Saver Issue 7 offer this rate without a bonus. The Marcus by Goldman Sachs® account pays monthly interest only, while both Virgin products offer a choice of monthly or yearly.

There’s also little daylight between these three accounts when it comes to minimum investments, with all being able to be opened with just £1. All three can be opened and managed online, while the Marcus by Goldman Sachs® product also includes management by phone. To apply you must have a UK mobile phone number too.

There’s a change at the very top of the best notice account charts, with last week’s leader, PCF Bank’s 180 Day Notice Deposit, being withdrawn. Taking the top spot is Gatehouse Bank with their 120 Day Notice Account paying an expected profit rate of 1.82% AER on a minimum deposit of £1,000. Profit can be paid on the anniversary of opening or monthly, with the latter being at the slightly lower rate of 1.80% gross.

Those looking for a savings account with a shorter notice period still have the same choice as last week, with Bank of London and the Middle East (BLME), Charter Savings Bank and Aldermore all remaining unchanged for the 90, 60 and 30-day notice positions.

BLME’s online-only account is offering an expected profit rate of 1.71% AER paid quarterly on a minimum deposit of £10,000. Charter Savings Bank’s 60 Day Notice – Issue 12 offers interest of 1.53% AER being paid on the anniversary, or monthly at a slightly reduced rate of 1.52% gross - both for a minimum deposit of £5,000. There’s also a choice between an online-only version or one that includes postal opening and management.

Aldermore remains top of the 30-day notice tables with it’s 30 Day Notice Issue 7 account paying 1.30% AER on the anniversary of opening, or 1.29% gross monthly. A minimum deposit of £1,000 is required for an account that can only be opened and managed online.