Derin Clark

Derin Clark

Online Reporter
Published: 03/04/2020

Despite the economic crisis caused by the Coronavirus pandemic over the last few weeks, savers can still find some highly competitive rates in the savings charts this week. In fact, many of last week’s top rates have held and highly competitive rates are still available in the fixed rate bond, easy access and notice account charts.

The best fixed rate bonds savings rates

Provider Account Term Rate AER
Gatehouse Bank Raisin UK – 5 Year Fixed Term Deposit
Fixed Term Deposit

Five years

Five years

2.00% (expected profit rate)
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 Premier Deposit Account One year 1.60% (expected profit rate)

This week, Gatehouse Bank offered the best rate in the fixed rate bonds chart with both its Raisin UK – 5 Year Fixed Term Deposit and Fixed Term Deposit accounts paying an expected profit rate of 2.00% gross. Raisin UK – 5 Year Fixed Term Deposit pays interest on maturity and requires a minimum deposit of £1,000 to open. It can only be opened online and then managed online, by post and by phone. Fixed Term Deposit pays interest on anniversary and, again, a £1,000 minimum deposit is needed to open the account. It can only be opened and managed online.

Secure Trust Bank had the top rate in the three year fixed rate bond chart this week. Its 3 Year Fixed Rate Bond pays 1.81% gross yearly until 28 April 2023. This account requires a minimum deposit of £1,000 to open. It can only be opened online and then managed online and by phone.

Bank of London and The Middle East (BLME) had the best rates in both the two and one year fixed rate bonds charts this week. The two-year option of its Premier Deposit Account pays an expected profit rate of 1.75% gross on anniversary and the one-year version pays an expected profit rate of 1.60% gross on maturity. Both these accounts require a minimum opening deposit of £1,000. In addition to this, a BLME transfer account to hold funds pending investment is needed to open these accounts. They can only be opened online and then managed by post.

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 15 None 1.31%
Marcus by Goldman Sachs®
SAGA
Online Savings Account
Saga Easy Access Savings Account

None

None

1.30%

1.30% (includes 0.20% bonus for 12 months)

The best rate in the easy access savings chart this week came from Ford Money, which pays 1.35% gross on anniversary on its Flexible Saver. This account is only available to existing customers and requires a minimum opening deposit of £1. It allows unlimited further additions and withdrawals. This account can be opened online or by phone and then managed online. There is also a version of this account that pays interest monthly at a slightly lower gross rate.

The top easy access account without opening restrictions came from Virgin Money this week. Virgin Money pays 1.31% gross yearly on its Double Take E-Saver Issue 15. To open this account, a minimum deposit of £1 is needed and once opened it allows unlimited further additions. Withdrawals on this account are restricted to two per calendar year including closure. It 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 need a deposit to open but a UK mobile number is needed. It allows unlimited further additions and withdrawals. SAGA pays 1.29% gross monthly, which includes a 0.20% bonus for 12 months, on its Saga Easy Access Savings Account. A minimum deposit of £1 is needed to open this account, which 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%

ICICI Bank UK offered the best notice account rate overall, as well as the top rate in the up to 60 days’ notice account chart. The 95-day version of its HiSAVE Notice Savings Account and its Raisin UK – 95 Day Notice Account topped the notice account chart overall paying 1.59% gross monthly. As well as this, the 45-day version of its HiSAVE Notice Savings Account and its Raisin UK – 45 Day Notice Account topped the up to 60 days’ chart paying 1.39% gross monthly. Both options of the HiSAVE Notice Savings Account can be opened with a minimum deposit of £1. They both allow unlimited further additions. Withdrawals are allowed but must be made through a linked ICICI Bank current account. As well as 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 only available to new and existing HomeVantage Current Account customers and can be both opened and managed online, in branch and by phone.

The Raisin UK – 95 Day Notice Account and Raisin UK – 45 Account both require a minimum deposit of £1,000 to open. These accounts allow further additions. Partial withdrawals are not permitted, 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.

Savers looking for a short-term notice account will find that Secure Trust Bank offered the best rate this week. Its 30 Day Notice Account pays 1.30% gross quarterly and requires a minimum deposit of £1,000 to open. This account allows unlimited further additions. Withdrawals are restricted to 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 and then 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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