Thanks to a generous bonus and huge drop in rates, the lender is where savers should head if they’d like to have flexibility when dipping into their pot.
Elsewhere, the best rates are led by some familiar names, with notice accounts dominated by First Serve and West Brom, much like last week.
We take a look at the best deals, using data from Moneyfacts.
Easy access accounts
Metro Bank has stormed to the top of the easy access table with a 5.22% AER Instant Access Savings Account, which includes a 3.46% introductory bonus for the first 12 months.
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To benefit from that deal, savers need £500 in the account within the first 28 days of opening the account. There are no restrictions on withdrawals, but anything over £1,000 will need a day’s notice to the bank.
Ulster Bank’s Loyalty Saver is the next best on offer, offering 5.20% AER on funds of £5,000 or more. A rate of 2.25% AER is applied if the account has less than £5,000 stored in and there is no limit on the amount of withdrawals account holders have.
Close Brothers, Cynergy Bank, Beehive Money and Hampshire Trust all have a 5.15% AER rate, meaning there’s a three-way tie for the third-best rate available.
Fixed bond rates
The top spot for fixed rates is also taken by Metro Bank on one-year bonds, with its Fixed Term Savings Account rate of 5.91% AER. This needs a minimum of £500 to get started, while withdrawals are not allowed – so be careful when deciding your opening savings amount.
In terms of long-term bonds, JN Bank is the best option for two, three and five-year deals, with market-leading rates of 5.80% AER, 5.90% AER and 5.60% AER respectively. Savers need a deposit of £1,000 to open either of the accounts.
Union Bank of India (UK) has a Fixed Rate Deposit account which offers 5.80% AER paid on maturity for a two-year fixed bond.
Notice accounts
There’s no change on notice accounts once again, as FirstSave leads the pack with a 30 Day Notice Account (Oct23), paying 5.00% AER. You’ll receive interest on anniversary and with a minimum deposit of £100, but that will rise if you are able to put £5,000 into the account.
The WeBSave 60 Day Notice Account from West Brom pays the base rate 5.25% AER on a monthly or yearly basis and is the best on the market for 60 days’ notice. However, the account can only be opened online, though just £1 is required to get saving.
Oxbury is the top 90-day account on the market, with 5.15% AER on its Personal 90 Day Notice Account (Issue 10). It requires at least £1,000 to open and needs to be opened using the provider’s online banking facility.