The market-leading savings accounts from National Savings and Investments (NS&I) have been pulled this week but there are still lots of other options available.
There has been a marked slowdown in the rate paid by providers, following the Bank of England’s (BoE) decision to hold the base rate after months of rising rates.
Yet, while the now off-sale NS&I bonds paid a chart-topping 6.2% interest, there are still other providers offering decent rates of return across the savings market.
For easy access accounts, it’s possible to get 5.2% with Coventry Building Society, for example, and Monument Bank has boosted the rate it pays on its 35-day notice account to 5.10%.
Here we look at all of the best rates, with data from Moneyfacts.
The best savings accounts of the week
The best easy access account of the week comes from Coventry BS with its Triple Access Saver (Online) paying 5.20% on a minimum of £1. It’s an online account but it only allows three withdrawals before the interest rate drops.
There’s also a loyalty saver account from Ulster Bank which also pays 5.20% on balances of £5,000 or more (2.25% below this).
For fixed rate accounts, the market leader is currently Al Rayan Bank’s Raisin UK – 1 Year Fixed Term Deposit account which pays an expected profit of 6.12% on a minimum deposit of £5,000 or the Oxbury Bank Personal 1 Year Bond Account – Issue 32 which pays 6.11% on a minimum of £1,000.
The best two-year fix remains the Ford Money Fixed Saver 2 Year account which pays 6.05% on a minimum of £500.
The best easy access ISAs of the week
If you’re looking for the flexibility of an easy access account with tax-free benefits, the Chorley Building Society’s Easy Access Cash ISA (1 Withdrawal) is in the top spot paying 5% on a minimum of £1, however only one withdrawal is allowed before the rate drops.
The next best are the following:
- Moneybox Cash ISA: Paying 5% this ISA can be opened with £500 but includes a bonus for the first year.
- Shawbrook Bank’s Easy Access Cash ISA – Issue 25: Paying 4.93% on a minimum of £1,000 this is an online account but it can also be managed on the phone.
- Virgin Money’s Defined Access Cash E-ISA Issue 22: Pays 4.91% on a minimum of £1 but the rate drops if more than three withdrawals are made in a year.
The best fixed rate ISAs of the week
If you can lock your money away, the rates available are slightly higher and the best this week comes from Virgin Money once again with its 1 Year Fixed Rate Cash ISA Exclusive Issue 6.
It pays 5.85% and there is no minimum deposit. However it’s only for Virgin Money customers. That means you have to be a new or existing Virgin Money current account customers or an existing customer that originally opened a Clydesdale Bank, Yorkshire Bank or B current account.
The next best are the following:
- Oak North Bank’s Fixed Rate Cash ISA: Paying 5.80% on a minimum of £1, withdrawals are allowed but result in a 90-day loss of interest penalty.
- Secure Trust Bank’s 1 Year Fixed Rate Cash ISA (11.Nov.24): Paying 5.75% on a minimum of £1,000, withdrawals are allowed but result in a 90-day loss of interest penalty.
- Virgin Money’s 1 Year Fixed Rate Cash E-ISA Issue 619: Also paying 5.75%, this one can be opened with £1 and withdrawals are allowed but result in a 60-day loss of interest penalty.
The best notice ISAs of the week
If you’re looking for more flexibility, there are lots of notice ISAs to choose from, with a variety of notice periods.
Monument Bank has increased the rate on its 35-day notice account this week to 5.22% but it’s only for those who can put away at least £25,000.
The highest-paying notice account is the Stafford Railway BS’s Cash ISA 60 Day Notice Account which pays 5.25% on a minimum of £100.
