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This week’s top savings rates

This week’s top savings rates
Matt Browning
Written By:
Matt Browning

There is a fresh name at the top of the easy access charts this week, as Ulster Bank storm ahead with its leading rate of 5.20%.

JN Bank continued to offer the best rates across the board for three and five-year fixed bonds for savers.

However, for the third successive week there is no movement with the top-ranked notice accounts.

Here we round up the saving-rate cream of the crop, using data from Moneyfacts.

Easy access savings accounts

Ulster Bank replaced Paragon Bank at the top of the tree for easy access savings accounts on its Loyalty Saver deal, priced at 5.20% AER at £5,000. A rate of 2.25% is paid for investments lower than that figure.

The second best rates are all tied at 5.15% through a Limited Issue Easy Access Issue 2 from Beehive Money, Close Brothers’ Easy Access Account (Issue 1) and Cynergy Bank with its Online Easy Access Account (Issue 68).

Beehive’s deal requires a minimum deposit of £1,000, Close Brothers’ account needs £10,000 to open and Cynergy’s deal accepts just £1 to get going.

There is a 5.12% AER offered by Cahoot and Virgin Money on the respective Simple Saver (Issue 2) and Defined Access E-Saver (Issue 19) accounts. Both are online-only, while the Simple Saver needs just £1 for saving to begin.

Fixed bond rates

A round of rate-reductions across the fixed rate chart means JN Bank shares the top of the rankings this week. The provider is offering the joint-leading rate for one and two year fixes, but is the leading three and five-year provider – with rates of 5.90%, 5.80%, 5.90% and 5.60% respectively.

The accounts all receive interest on anniversary when applying online or by phone. The one-year account needs £100 minimum investment whereas the other three accounts require a £1,000 deposit.

After leading last week, Union Bank of India (UK) continues to match JN Bank’s one and two year, market-leading fixes. The Fixed Rate Deposits require £1,000 to open and Union Premier Bonds, which are online-only and need a £5,000 deposit as a minimum.

Notice accounts

A week on from our last savings’ roundup and there is no change among the top deals in the notice account market.

FirstSave’s 30-Day Notice Account pays 5.00% AER on anniversary and savers need £100 in the bank to open the account. Savers with a bigger pot can enjoy monthly interest if they can deposit £5,000 and the account must be opened online.

Dudley Building Society has a deal at 5.40% AER on its 60 Day Notice account, which can be opened with a minimum deposit of £1,000.

The 90 Day Notice Account (Issue 10) from Oxbury Bank remains the top rate for savers with a price of 5.51% AER. Savers need to download the Oxbury Bank app to open the account, which can then be accessed online.