Savers looking for the best savings rate will once again have to consider a long-term fixed rate bond, however those thinking about opening a fixed account should keep in mind that if inflation rises, as expected over the coming months, it could result in the value of their funds being eroded in real terms.
Savers should be aware that the accounts highlighted below are the top-paying accounts available to new customers and higher rates may be available on accounts available to existing customers only. Savers can compare accounts available to existing customers only by visiting our savings charts and selecting these accounts in the refine search section.
|Gatehouse Bank||Fixed Term Green Saver||Five years||1.40% (expected profit rate)||Find out more|
|Shawbrook Bank||3 Year Fixed Rate Bond Issue 52||Three years||0.96%||Find out more|
Bank of London and The Middle East
Premier Deposit Account
Raisin UK – 2 Year Fixed Term Deposit
0.80% (expected profit rate)
0.80% (expected profit rate)
|Atom Bank||1 Year Fixed Saver||One year||0.70%||Find out more|
Gatehouse Bank continued to pay the top rate overall in the fixed rate bond chart this week with its Fixed Term Green Saver paying an expected profit rate of 1.40% gross on anniversary. This five-year fixed term account requires a £1,000 minimum deposit to open. It has the incentive of Gatehouse Bank planting a tree in a UK woodland when the account is opened and funded. The account must be opened and managed online.
The top three year fixed rate this week came from Shawbrook Bank, which pays 0.96% on anniversary on its 3 Year Fixed Rate Bond Issue 52. This account requires a £1,000 minimum deposit to open. It 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.
Bank of London and The Middle East (BLME), QIB (UK), and United Trust Bank all paid the top two year fixed bond rate this week. BLME pays an expected profit rate of 0.80% gross on anniversary on its Premier Deposit Account. To open this account, a minimum deposit of £1,000 is needed, along with a BLME transfer account to hold funds pending investment. It can only be opened online and must be managed by post. QIB (UK) pays an expected profit rate of 0.80% gross on maturity on its Raisin UK – 2 Year Fixed Term Deposit, which requires a £1,000 minimum deposit to open. It benefits from the incentive of Raisin UK offering a bonus up to the value of £50 when savers open their first account through the Raisin UK platform. This account must be opened online but can then be managed online, by post and by phone.
The top one year fixed bond rate this week came from Atom Bank with its 1 Year Fixed Saver paying 0.70% gross on anniversary. This account requires a £50 minimum deposit to open and can only be opened and managed via mobile app. There is a version of this account that pays interest monthly at the same gross rate.
|Provider||Account||Maximum number of withdrawals allowed||Rate AER|
|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 a Club M Account or nominated account||0.45%||Find out more|
|Kent Reliance||Easy Access Account - Issue 45||Unlimited but withdrawal method dependent on how a/c is opened||0.45%||Find out more|
|Yorkshire Building Society||Annual Access Account Issue 8||1 withdrawal day per anniversary year||0.45%||Find out more|
Both ICICI Bank UK and Virgin Money continued to offer the best easy access savings rate this week. ICICI Bank UK pays 0.50% gross monthly on its SuperSaver Savings Account. This account requires no minimum deposit to open, but savers must also have, or open, a HomeVantage Current Account. It allows further additions and withdrawals are permitted but all transactions must be made via a linked ICICI Bank current account. The account can be opened online, in branch, or by phone and then managed online, in branch, by post and via mobile app. Virgin Money pays 0.50% gross quarterly on its Club M Saver, which requires no minimum deposit to open but a Club M Account is required. It permits further additions. Withdrawals are allowed but must be made via a Club M Account or a nominated account. It can be opened online or by phone and then managed online, in branch, by phone and via mobile app.
Kent Reliance and Yorkshire Building Society both had the next-best easy access rate in the chart this week. Kent Reliance pays 0.45% gross yearly on its Easy Access Account – Issue 45. A £1,000 minimum deposit is needed to open this account, which allows further additions via cash at a branch, cheque or bank transfer. Withdrawals can be made but the withdrawal method is dependent on how the account is opened. It can be both opened and managed online, in branch and by post. There is also a version of this account that pays interest monthly at the same gross rate. Yorkshire Building Society pays 0.45% gross on anniversary on its Annual Access Account Issue 8. This account requires a £100 minimum deposit to open, which must be new money to the building society. It allows further additions. Withdrawals are restricted to one withdrawal day per anniversary year. The account can be opened in branch or by post and then managed online, in branch or by post. Savers should be aware that after 12 months, this account reverts to an Easy Saver.
Compare the best easy access savings accounts on our charts.
|Moneycorp Bank||90 Day Notice Account||90 days||0.65%||Find out more|
|Oxbury Bank||Personal 95 Day Notice Account - Issue 3||95 days||0.52%||Find out more|
Topping the notice chart this week with an account available to new customers was Moneycorp Bank, which pays 0.65% gross monthly on its 90 Day Notice Account. This account requires a £10,000 minimum deposit to open and, as well as this, savers must have or open a Deposit Account with Moneycorp Bank for transactional purposes. Further additions are allowed while the issue remains open from a minimum of £10,000. Withdrawals can be made subject to 90 days’ notice. This account must be opened and managed online.
Hanley Economic Building Society had the next-best rate with its Notice 90 account paying 0.55% gross yearly from £25,000, while a higher rate of 0.65% is paid on deposits of £50,000 and a lower rate of 0.35% is paid on deposits at £100. This account, however, has localised opening restrictions. Savers interest in this account can find out more by visiting our notice account chart.
The next-best notice rate came from Oxbury Bank, which pays 0.52% gross monthly on its Personal 95 Day Notice Account – Issue 3. A £1,000 minimum deposit is needed to open this account and an Oxbury App is required to use online banking. It allows further additions via a nominated account. Withdrawals can be made via a nominated account subject to 95 days’ notice. This account must be opened online but can then be managed online and via mobile app.
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