The Best Savings Rates This Week 9 4 21 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 09/04/2021

Savers looking for the best rates will once again have to look to the fixed rate bond charts this week, although savers considering locking into a long-term fixed rate bond should be aware that if inflation rises as expected, it could see their savings erode over time. For those looking for an alternative to long-term fixed rate bonds, it is interesting to note that the top rates available in the one year, easy access and notice account charts are similar, so savers may need to look beyond rates to decide which is the best option for them.

The best fixed rate bond savings rates

Provider Account Term Rate AER  
Shawbrook Bank 7 Year Fixed Rate Bond Issue 6 Seven years 1.35% Find out more
Shawbrook Bank 5 Year Fixed Rate Bond Issue 34 Five years 1.31% Find out more
Zopa 3 Year Fixed Term Savings Three years 0.91% Find out more
Bank of London and The Middle East
QIB (UK)

Premier Deposit Account

Raisin UK – 2 Year Fixed Term Deposit*

Two years


Two years

0.80% (expected profit rate)

0.80% (expected profit)

Go to provider’s site

Go to provider’s site

Ahli United Bank (UK) plc Raisin UK - 1 Year Fixed Term Deposit* One year 0.65% Go to provider’s site

 

The top rate in the fixed bond chart this week came from Shawbrook Bank, which pays 1.35% gross on anniversary on its 7 Year Fixed Rate Bond Issue 6. Shawbrook Bank also topped the five year fixed rate bond chart offering 1.31% gross on anniversary on its 5 Year Fixed Rate Bond Issue 34. Both these accounts require a £1,000 minimum deposit to open. They must be opened online but can then be managed online and by phone. There are also versions of both these accounts that pay interest monthly at a slightly lower gross rate of 1.34% on the seven-year option and 1.30% on the five-year option.

The highest-paying account in the three year fixed bond chart this week came from Zopa, which pays 0.90% gross monthly on its 3 Year Fixed Term Savings. Interest on this account is added to the account monthly but is only available on maturity. It requires a £1,000 minimum deposit to open. The 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 QIB (UK) 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. A £1,000 minimum deposit is needed to open this account, along with a BLME transfer account to hold funds pending investment. It can only be opened online and must be then 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. The account must be opened online but can then be managed online, by post and by phone.

Topping the one year fixed bond chart this week is Ahli United Bank (UK) plc with its Raisin UK – 1 Year Fixed Term Deposit* account. To open this account, a £1,000 minimum deposit is needed. This account must be opened online but can then be managed online, by post and by phone.

Compare the best fixed rate bonds

The best easy access savings rates

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 M Plus Saver Unlimited via Virgin Money Current Account or nominated account 0.50% Find out more
Yorkshire Building Society Annual Access Account Issue 7 1 withdrawal day per anniversary year 0.50% Find out more

 

ICICI Bank UK, Virgin Money and Yorkshire Building Society continued to pay the top rate in the easy access chart this week. ICICI Bank UK pays 0.50% gross monthly on its SuperSaver Savings Account. This account does not require a deposit to open, but a HomeVantage Current Account is needed. Further additions are allowed. Withdrawals are permitted 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.

Virgin Money pays 0.50% gross quarterly on its M Plus Saver, which is only available to new and existing Virgin Money Current Account customers. This account does not require a deposit to open. It allows further additions. Withdrawals can be made but all withdrawals must be made via a Virgin Money Current Account or nominated account. It can be opened online, in branch or by phone and then managed online, in branch, by phone and via mobile app.

Yorkshire Building Society pays 0.50% gross on anniversary on its Annual Access Account Issue 7. To open this account, a £100 minimum deposit is needed and the money must be new to the building society. It allows further additions. Withdrawals are restricted to one withdrawal day per anniversary year. Savers should be aware that this account reverts to an Easy Saver after 12 months. It can be opened in branch or by post and then managed online, in branch or by post.

Compare the best easy access savings accounts

The best notice account rates

Provider Account Notice Rate AER  
Moneycorp Bank 90 Day Notice Account 90 days 0.65% Find out more
Moneybox 95 Day Notice Account 95 days 0.60% Find out more

ICICI Bank UK


ICICI Bank UK

Raisin UK - 95 Day Notice Account*
Notice Savings Account

95 days


95 days

0.55%


0.55%

Go to provider’s site

Find out more

The top rate in the notice account chart this week came from Moneycorp Bank, which pays 0.65% gross monthly on its 90 Day Notice Account. A £10,000 minimum deposit is needed to open this account, along with a Deposit Account with Moneycorp Bank for transactional purposes. It allows further additions while the issue remains open from a minimum of £10,000. Withdrawals are permitted subject to 90 days’ notice. The account must be opened and managed online.

Moneybox, which is operated by Investec Bank plc, had the next-best notice account rate paying 0.60% gross monthly on its 95 Day Notice Account. To open this account, a £1 minimum deposit is needed. It allows further additions and withdrawals can be made subject to 95 days’ notice. The account must be opened and managed via mobile app. Teachers Building Society also pays 0.60% gross yearly on its Teacher Home Saver and Union Home Saver, but these accounts are restricted to those within the teaching profession or NEU members. Savers interested in these accounts can find more information on our notice account charts.

ICICI Bank UK offered the third-best notice account rate this week with its Raisin UK – 95 Day Notice Account and its Notice Savings Account, both paying 0.55% gross monthly. Raisin UK – 95 Day Notice Account* requires a £1,000 minimum deposit to open and does not allow further additions. Withdrawals can only be made of the full account balance, subject to 95 days’ notice and account closure. Partial withdrawals are not permitted. The account must be opened online, but can then be managed online, by post and by phone. Notice Savings Account can be opened with a £1 minimum deposit. A HomeVantage Current Account is also needed to open this account. It allows further additions and withdrawals can be made subject to 95 days’ notice and all transactions must be made via a linked HomeVantage Current Account. The account can be both opened and managed online, in branch and by phone.

 

*These accounts benefit from Raisin UK offering an incentive of a bonus or Amazon Gift Card of up to the value of £50 when savers open their first savings accounts via its website.

Compare the best notice accounts

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