You are here: Home - Saving-Banking - News -

Atom bank launches top fixed deals, but you can do better

Written by: Paloma Kubiak
Atom Bank has launched two short-term fixed savings deals taking the offerings to the top of the best buy tables. But savers can do better, even without locking up their money.

The digital-only challenger has today added two new products to its Fixed Saver range, which can be opened with just £50: 

  • 3 month Fixed Saver, paying 1.29% gross, 1.30% AER
  • 6 month Fixed Saver, paying 1.79% gross, 1.80% AER.

While both offers take Atom to the top of the best buy tables in the three and six month categories – and mean savers no longer need to lock up their money for years at a time – there are better deals available.

Anna Bowes, director of independent savings advice site, Savings Champion, said: “It’s good to see a provider offering more choice for these underused fixed terms and these rates are the most competitive in the market, compared to its peers.

“However with the potential of an imminent base rate rise, many will feel that these rates are still unexciting, particularly with regard to the 3 month Fixed Saver. You can actually earn a better rate on an easy access account (National Counties and Coventry Building Society pay 1.35% gross/AER). And OakNorth Bank has a 90 Day Notice account paying 1.69% gross/AER.”

Bowes added that Secure Trust Bank is offering 1.77% gross/1.78% AER on its 180 notice account – just a shade lower than the Atom Bank 6 month Fixed Saver.

“While the rates on these alternative accounts are variable, one would hope that within this relatively short period, the only way to go if the rates were to change would be up, if the base rate is increased,” she said.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Everything you wanted to know about ISAs…but were afraid to ask

The new tax year is less than a fortnight away and for ISA savers or investors, it’s hugely important. If yo...

Your right to a refund if travel is affected by train strikes

There have been a wave of train strikes in the past six months, and for anyone travelling today Friday 3 Febru...

Could you save money with a social broadband tariff?

Two-thirds of low-income households are unaware they could be saving on broadband, according to Uswitch.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week