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The savings accounts paying the most interest

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Written by: Joanna Faith
05/10/2021
It’s time to get your finances in shape, 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

0.65% Coventry Building Society Four Access Saver ‒ minimum deposit £1. Apply and access in branch, online, by post or telephone. Four penalty free easy access withdawals are allowed each year, additional withdrawals are allowed subject to a 50-day interest charge on the amount withdrawn.

0.65% The Family Building Society Premium Saver (4) – minimum deposit £10,000. Apply online. Access in branch, online, by post or telephone.

0.60% Charter Savings Bank Easy Access – Issue 23 ‒ minimum deposit £5,000. Apply and access online or by post.

0.60% Marcus by Goldman Sachs Online Savings Account ‒ minimum deposit £1. Apply and access online or via mobile app. Rate includes a 0.10% bonus for the first 12 months.

0.60% Cynergy Bank Online Easy Access Account (Issue 41) ‒ minimum deposit £1. Apply and access online. Rate includes a 0.30% bonus for the first 12 months.

Notice accounts

1.06% OakNorth Bank 120 Days Notice Deposit Account – Issue 12 – minimum deposit £1. Apply online or via mobile app. Access online, mobile app, by post, email or telephone. Withdrawals are subject to 120 days’ notice only; no earlier access is allowed.

1.06% Oxbury Personal 120 Day Notice Account Issue 1 – minimum deposit £1,000. Apply online. Access online or via mobile app. Withdrawals are subject to 120 days’ notice only; no earlier access is allowed.

1.05% Allica Bank 95-Day Notice Personal Savings Account (Issue 1) ‒ minimum deposit £10,000. Apply and access online or via mobile app. Withdrawals are subject to 95 days’ notice only; no earlier access is allowed.

1.05% DF Capital 120 Day Notice Account (Issue 1) ‒ minimum deposit £1,000. Apply and access online. Withdrawals are subject to 120 days’ notice; no earlier access is allowed.

1.05% Charter Savings Bank 120 Day Notice – Issue 24 ‒ minimum deposit £5,000. Apply and access online or post. Withdrawals are subject to 120 days’ notice only; no earlier access is allowed.

One-year fixed term bonds

1.40% Allica Bank 12 Month Fixed-Term Personal Savings Account (Issue 21) – minimum deposit £10,000. Apply online or via mobile app. No access within the term.

1.36% Zopa 1 year Fixed Term Savings ‒ minimum deposit £1,000. Apply online. No access within the term. No access within the term.

1.35% Masthaven 1 Year Fixed Term Bond ‒ minimum deposit £500. Apply online. No access within the term.

Two-year fixed term bonds

1.75% Allica Bank 24 Month Fixed-Term Personal Savings Account (Issue 18) ‒ minimum deposit £10,000. Apply online or via mobile app. No access within the term.

1.70% Raisin UK 2 Year Fixed Term Deposit (provided by Isbank) – minimum deposit £1,000. Apply online. No access within the term.

1.65% Masthaven 2 Year Fixed Term Bond – minimum deposit £500. Apply online. No access within the term.

Three-year fixed term bonds

1.80% Secure Trust Bank 3 Year Fixed Rate Bond (31.Oct.2024) – minimum deposit £1,000. Apply online. No access within the term. The maturity date is 31/10/2024.

1.75% Raisin UK 3 Year Fixed Term Deposit (provided by Isbank) – minimum deposit £1,000. Apply online. No access within the term.

1.75% Atom Bank 3 Year Fixed Saver – minimum deposit £50. Apply via mobile app. No access within the term.

Five-year fixed term bonds

2.00% Recognise Bank 5 Year Fixed Rate Account ‒ minimum deposit £1,000. Apply online. No access within the term.

1.86% Atom Bank 5 Year Fixed Saver ‒ minimum deposit £50. Apply via mobile app. No access within the term.

1.85% Secure Trust Bank 5 Year Fixed Rate Bond (03.Nov.2026) ‒ minimum deposit £1,000. Apply online. No access within the term. The maturity date is 03/11/2026.

Easy access cash ISAs

0.60% Cynergy Bank Online ISA (Issue 16) – minimum deposit £1. Apply online. Access online or via mobile app. Transfers in accepted are accepted. This is not a Flexible ISA.

0.60% Marcus by Goldman Sachs Cash ISA – minimum deposit £1. Apply online. Access online or by telephone. Transfers in not accepted. This is not a flexible ISA. Rate includes a 0.10% bonus for the first 12 months.

0.55% Leeds Building Society Limited Issue Online Access ISA (Issue 37) ‒ minimum deposit £1,000. Apply and access online. Transfers in are allowed. This is not a flexible ISA. This is not a portfolio ISA. The maturity date is 31/10/2022. On maturity, the account is transferred to the Maturity Access ISA.

0.55% Coventry Building Society Limited Access ISA (Online) (2) ‒ minimum deposit £1. Apply and access online. A maximum of six easy access withdrawals can be made each year. Additional withdrawals are subject to 50 days’ loss of interest on the amount withdrawn. Transfers in are allowed. This is a flexible ISA. This is not a portfolio ISA.

0.51% Tesco Bank Instant Access Cash ISA ‒ minimum deposit £1. Apply and access online or by telephone. Rate includes a 0.41% bonus for the first 12 months. Transfers in are allowed. This is a flexible ISA. This is not a portfolio ISA.

One-year fixed term cash ISAs

0.90% Castle Trust Bank 1 year Fixed Rate e-Cash ISA ‒ minimum deposit £1,000. Apply online. Access on closure only, subject to 90 days’ loss of interest withdrawals. Transfers in are allowed. This is not a flexible ISA. This is not a portfolio ISA.

0.86% OakNorth Bank 12 Month Fixed Rate Cash ISA ‒ minimum deposit £1. Apply online or via mobile app. Withdrawals are allowed, subject to 90 days’ loss of interest. Transfers in are allowed. This is not a portfolio ISA. This is not a flexible ISA.

0.85% Charter Savings Bank 1 Year Fixed Rate Cash ISA – minimum deposit £5,000. Apply 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.

Two-year fixed term cash ISAs

1.10% Castle Trust Bank 2 year Fixed Rate e-Cash ISA – minimum deposit £1,000. Apply online. Access on closure only, subject to 180 days’ loss of interest withdrawals. Transfers in are allowed. This is not a flexible ISA. This is not a portfolio ISA.

1.10% Close Brothers Savings 2 Year Fixed Rate Cash ISA ‒ minimum deposit £10,000. Apply online. Access on closure only, subject to 150 days’ loss of interest. Transfers in are allowed. This is not a flexible ISA. This is not a portfolio ISA.

1.05% Hodge Bank 2 Year Fixed Rate Cash ISA (Online Only) ‒ minimum deposit £1,000. Apply online. Withdrawals are allowed, subject to 180 days’ loss of interest. Transfers in are allowed. This is not a flexible ISA.

Three-year fixed term cash ISAs

1.21% United Bank UK 3 Year Fixed Rate Cash ISA ‒ minimum deposit £2,000. Apply online, in branch, by post or via mobile app. Access on closure or full transfer out only, subject to 270 days’ loss of interest. Transfers in are allowed. This is not a flexible ISA. This is not a portfolio ISA.

1.20% United Trust Bank Cash ISA 3 Year Bond ‒ minimum deposit £15,000. Apply by post. 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. Interest can be withdrawn annually without penalty. Transfers in are allowed. This is not a flexible ISA. This is not a portfolio ISA.

1.15% Close Brothers Savings 3 year Fixed Rate Cash ISA ‒ minimum deposit £10,000. Apply online. Access on closure only, subject to 270 days’ loss of interest. Transfers in are allowed. This is not a flexible ISA. This is not a portfolio ISA.

Five-year fixed term cash ISAs

1.51% United Bank UK 5 Year Fixed Rate Cash ISA ‒ minimum deposit £2,000. Apply online, in branch, by post or via mobile app. Access on closure or full transfer out only, subject to 365 days’ loss of interest. Transfers in are allowed. This is not a flexible ISA. This is not a portfolio ISA.

1.35% United Trust Bank Cash ISA 5 Year Bond ‒ minimum deposit £15,000. Apply by post. 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. Interest can be withdrawn annually without penalty. Transfers in are allowed. This is not a flexible ISA. This is not a portfolio ISA.

1.30% The West Brom BS 5 Year Fixed Rate ISA ‒ minimum deposit £1,000. Apply by post or in branch. Withdrawals are allowed, subject to 180 days’ notice or loss of interest. Transfers in are allowed. This is not a flexible ISA. This is not a portfolio ISA. The maturity date is 30/09/2026.

New launch sends ripple through easy access space

Anna Bowes, co-founder of Savings Champion, says:  “After a slow start to the month, activity in the savings market picked up a little towards the end of September, brought about in particular by the launch of two new banks into the savings market, Recognise Bank and Castle Trust Bank.

“But there was also the launch of a current account from the US giant, JP Morgan Chase, which has also caused a definite ripple among easy access accounts, presumably in anticipation of the launch of a savings account by them. As a result all of the top 5 easy access accounts are now paying 0.60% or more.

“Over five years, Recognise Bank has launched a fixed rate bond paying 2% – the highest rate we’ve seen in 18 months, but with long term gilt yields rising, could there be more increases to follow in the fixed rate bond market in particular?

“Castle Trust Bank has made a bit of a splash in the Fixed Rate ISA market by launching market leading 1-year and 2-year ISAs paying 0.90% AER and 1.10% AER respectively.

“Recognise Bank was also key to pushing up the best buy notice accounts. Its 95-Day Notice Account – Issue 1 was launched paying 1.10% AER, the highest rate we’ve seen for a year. However, as is often the case with competitive accounts, this has since been withdrawn from sale – so you may need to be quick to secure these best buy accounts.”

All rates correct as of 05/10/21.

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