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The savings accounts paying the most interest

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Written by: Emma Lunn
01/06/2021
It’s time to get your finances in shape for summer, and moving your cash savings to a higher paying deal is a good place to start.

Leaving your money languishing in an account paying next-to-nothing means you’re missing out on valuable interest.

Here, we list the top-paying, open-to-all accounts on the market:

Easy access accounts

0.50% Atom Bank Instant Saver – minimum deposit £1. Apply and access via the providers mobile app.

0.45% Charter Savings Bank Easy Access Issue 20 ‒ minimum deposit £5,000. Apply and access online or by post.

0.45% Yorkshire Building Society Annual Access Account Issue 8 ‒ minimum deposit £100. Apply in branch or by post. Access in branch, by post and online. The Annual Access Account allows withdrawals from your account, without losing any interest, on any one day per year based on the anniversary of account opening.

0.42% Cynergy Bank Online Easy Access Account (Issue 38) ‒ minimum deposit £1. Apply and access online.  Rate includes a 0.12% bonus for the first 12 months.

0.41% Paragon Triple Access Savings Account – Issue 4 ‒ minimum deposit £1. Apply and access online.  If more than 3 withdrawals are made in a 12th month period, the rate payable will drop to 0.25% from the date of the 4th withdrawal, with the 12-month period resetting on the anniversary of the account opening date.

Notice accounts

0.72% Shawbrook Bank120 Day Notice Personal Account Issue 48 ‒ minimum deposit £1,000. Apply online and access online, via email or telephone. Withdrawals are subject to 120 days’ notice only; no earlier access is allowed.

0.70% Allica Bank 95-Day Notice Personal Savings Account (Issue 1) ‒ minimum deposit £1,000. Apply and access online. Withdrawals are subject to 95 days’ notice only; no earlier access is allowed.

0.67% Charter Savings Bank 120 Day Notice Account Issue 21 ‒ minimum deposit £5,000. Apply and access online or by post. Withdrawals are subject to 120 days’ notice only; no earlier access is allowed.

0.65% Moneycorp Bank 90 day notice account issue 1 ‒ minimum deposit £10,000. Apply and access online. Withdrawals are subject to 90 days’ notice only; no earlier access is allowed. Interest is paid monthly.

In order to open this account, you are required to open an International Payments Account. This is used to fund the account and transfer monies. Deposits held with Moneycorp Bank are covered up to the value of €100,000 by the Gibraltar Deposit Guarantee Scheme (GDGS), which is the equivalent of the UK Financial Services Compensation Scheme (FSCS).

0.65% Charter Savings Bank 95 Day Notice Issue 37 ‒ minimum deposit £5,000. Apply and access online or by post. Withdrawals are subject to 95 days’ notice only; no earlier access is allowed.

One-year fixed term bonds

0.86% Zopa 1 year Fixed Term Savings – minimum deposit £1,000. Apply online. No access within the term.

0.85% Atom Bank One Year Fixed Saver ‒ minimum deposit £50. Apply via mobile app. No access within the term.

0.85% Aldermore 1 Year Fixed Rate Account ‒ minimum deposit £1,000. Apply online. No access within the term.

Two-year fixed term bonds

1.0% BLME 2 Years Premier Deposit Account ‒ minimum deposit £1,000. Apply online. No access within the term. The rate is not guaranteed, in order to comply with Sharia Law the rate displayed is an expected profit rate.

1.0% Zopa 2 year Fixed Term Savings – minimum deposit £1,000. Apply online. No access within the term.

0.96% Secure Trust Bank 2 Year Fixed Rate Bond (04.Jul.2023) – minimum deposit £1,000. Apply online. No access within the term. The maturity date is 04/07/2023.

Three-year fixed term bonds

1.11% Zopa 3 year Fixed Term Savings – minimum deposit £1,000. Apply online. No access within the term.

1.10% United Bank UK 3 Year Fixed Term Deposit – minimum deposit £2,000. Apply in branch, post or via the providers new mobile app. Withdrawals are allowed at the provider’s discretion, subject to 270 days’ loss of interest.

1.06% Secure Trust Bank 3 Year Fixed Rate Bond (01.Jul.2024) – minimum deposit £1,000. Apply online. No access within the term.

Five-year fixed term bonds

1.50% Gatehouse Bank 5 Year Fixed Term Green Saver ‒ minimum deposit £1,000. Apply online. No access within the term. In order to comply with Sharia Law the rate listed is an expected profit rate.

1.45% Aldermore 5 Year Fixed Rate Account ‒ minimum deposit £1,000. Apply online. No access within the term.

1.41% United Bank UK 5 Year Fixed Term Deposit ‒ minimum deposit £2,000. Apply in branch, post or via the providers new mobile app. Withdrawals are allowed at the provider’s discretion, subject to 365 days’ loss of interest.

Easy access cash ISAs

0.46% Cynergy Bank UK Online ISA (Issue 12) – minimum deposit £1. Apply and access online. Transfers in accepted from other cash ISAs at the time of application. This is not a Flexible ISA.

0.45% Charter Savings Bank Easy Access Cash ISA Issue 21 ‒ minimum deposit £5,000. Apply and access online.  Transfers in are allowed. This is not a flexible ISA. This is a portfolio ISA.

0.45% Yorkshire Building Society Annual Access Account ISA Issue 4 ‒ minimum deposit £100. Apply in branch and by post. Access online, by post and in branch. Withdrawals allowed without losing any interest, on any one day per year based on the anniversary of account opening. Transfers in are allowed. This is a flexible ISA. This is not a Portfolio ISA.  On the anniversary of your account opening your savings will be transferred to the latest issue of the Easy ISA.

0.41% Paragon Triple Access ISA Issue 4 ‒ minimum deposit £1. Apply and access online. Transfers in are allowed. This is a flexible ISA. This is a portfolio ISA.

0.40% Marcus Cash ISA ‒ minimum deposit £1. Apply online. Access online or by telephone. Transfers in not accepted. This is not a flexible ISA.

One-year fixed term cash ISAs

0.55% Shawbrook Bank 1 Year Fixed Rate Cash ISA Bond Issue 47 ‒ minimum deposit £1,000. Apply online. Access via telephone, email or online. Withdrawals are allowed, subject to 90 days’ loss of interest. Transfers in are allowed. This is not a flexible ISA. This is not a portfolio ISA.

0.50% Paragon 1 Year Fixed Rate Cash ISA ‒ minimum deposit £500. Apply and access online or via post. Withdrawals are allowed, subject to 90 days’ loss of interest. Transfers in are allowed. This is a flexible ISA. This is a portfolio ISA.

0.49% Charter Savings Bank 1 Year Fixed Rate Cash ISA ‒ minimum deposit £5,000. Apply and access online. Withdrawals are allowed, subject to 90 days’ loss of interest. Transfers in are allowed. This is not a flexible ISA. This is a portfolio ISA. Interest is paid on maturity or monthly.

Two-year fixed term cash ISAs

0.70% Shawbrook Bank 2 Year Fixed Rate Cash ISA Bond Issue 47 ‒ minimum deposit £1,000. Apply online. Access via telephone, email or online. Withdrawals are subject to a charge of 180 days’ interest on the amount withdrawn. Transfers in are allowed. This is not a flexible ISA. This is not a portfolio ISA.

0.60% Aldermore 2 Year Fixed Rate Cash ISA ‒ minimum deposit £1,000. Apply and access online. Withdrawals are allowed, subject to 180 days’ loss of interest. Transfers in are allowed. This is a flexible ISA. This is a portfolio ISA. Interest is paid annually.

0.60% Close Brothers Savings 2 Year Fixed Rate Cash ISA ‒ minimum deposit £10,000. Apply online. Access online, via post or telephone. Withdrawals are allowed, subject to 150 days’ loss of interest. Transfers in are allowed. This is not a flexible ISA. This is not a portfolio ISA. Interest is paid annually or monthly.

Three-year fixed term cash ISAs

0.80% Shawbrook Bank 3 Year Fixed Rate Cash ISA Bond Issue 27 ‒ minimum deposit £1,000. Apply online. Access via telephone, email or online. Withdrawals are subject to a charge of 270 days’ interest on the amount withdrawn. Transfers in are not allowed. This is not a flexible ISA. This is not a portfolio ISA. Interest is paid annually or monthly.

0.75% Close Brothers Savings 3 year Fixed Rate Cash ISA ‒ minimum deposit £10,000. Apply online. Access online, via post or telephone. Withdrawals are allowed, subject to 270 days’ loss of interest. Transfers in are allowed. This is not a flexible ISA. This is not a portfolio ISA. Interest is paid annually or monthly.

0.71% Charter Savings Bank 3 Year Fixed Rate Cash ISA ‒ minimum deposit £5,000. Apply and access online. Withdrawals are allowed, subject to 270 days’ loss of interest. Transfers in are allowed. This is not a flexible ISA. This is a portfolio ISA.

Five-year fixed term cash ISAs

1.11% Close Brothers Savings 5 year Fixed Rate Cash ISA ‒ minimum deposit £10,000. Apply online. Access online, via post, branch or telephone. Access on closure only subject to 365 days’ loss of interest. Transfers in are allowed. This is not a flexible ISA. This is not a portfolio ISA.

1.10% Shawbrook Bank 5 Year Fixed Rate Cash ISA Bond Issue 25 ‒ minimum deposit £1,000. Apply online. Access via telephone, email or online. Withdrawals are subject to a charge of 360 days’ interest on the amount withdrawn. Transfers in are not allowed. This is not a flexible ISA. This is not a portfolio ISA. Interest is paid annually or monthly.

1.05% United Trust Bank Cash ISA 5 Year Bond ‒ minimum deposit £15,000. Apply by post. Access by post or online. Withdrawals are allowed, subject to a penalty that is based on the following calculation; amount of the withdrawal, multiplied by the number of days left until maturity, multiplied by the interest rate, divided by 365. Transfers in are allowed. This is not a flexible ISA. This is not a portfolio ISA. Interest is paid annually.

Rates up across the board

Anna Bowes, co-founder of Savings Champion says “Another month and the best buy rates have continued to rise across the board – including cash ISAs, albeit at a slower pace.

“The highest increases have been to the shorter-term fixed rate bonds – with the best two and three-year bonds now paying 1% and 1.11% respectively. It’s the first time we’ve seen rates at this level all year. Last month the best two-year was paying 0.80% and the best three-year was paying 0.96% AER ‒ so it’s some good news for savers at least.

“There was even a new market leading unrestricted easy access account launched by Atom Bank – paying 0.50% AER. Before this, the only 0.50% easy access account that had been available, was only appropriate if you didn’t really need access as the account would only allow withdrawals to be made on one day a year (Yorkshire Building Society Annual Access Account Issue 7)! Even this has been withdrawn now though, so we’ll have to wait and see how long the Atom account remains available.

“Let’s hope the savings account battles continue.”

All rates correct as of 01/06/21.

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