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The savings accounts paying the most interest

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Written by:
08/01/2019
If one of your jobs for the New Year is to get your finances in order, moving your 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 – with unlimited withdrawals

Marcus: 1.5% – minimum deposit £1; apply and access online; rate includes a 0.15% bonus for the first 12 months.

The Family Building Society: 1.45% – minimum deposit £5,000; apply and access in branch, by post or online.

Ford Money: 1.42% – minimum deposit £1; apply online or via phone; access online.

Easy access accounts – with limited withdrawals

Virgin Money: 1.5% – minimum deposit £1; apply and access online; maximum of two penalty-free withdrawals per year.

Notice accounts

Gatehouse Bank 120 Day Notice: 1.87% – minimum deposit £1,000; no early access; withdrawals subject to 120 days’ notice; sharia bank so rate is expected profit rate.

Gatehouse Bank 95 Day Notice: 1.85% – minimum deposit £1,000; no early access; withdrawals subject to 95 days’ notice; sharia bank so rate is expected profit rate.

Secure Trust Bank 90 Day Notice: 1.82% – minimum deposit £1,000; maximum of three withdrawals per year subject to 90 days’ notice.

One-year fixed term bonds

Gatehouse Bank: 2.10% – minimum deposit £1,000; apply online; sharia bank so rate is expected profit rate.

Atom Bank: 2.05% – minimum deposit £50; apply via mobile app.

Two-year fixed term bonds

Investec Bank: 2.35% – minimum deposit £25,000; must have an Investec E-asy Access Account.

Atom Bank: 2.30% – minimum deposit £50; apply via mobile app.

Three-year fixed term bonds

Atom Bank: 2.40% – minimum deposit £50; apply via mobile app.

Tandem Bank: 2.40% – minimum deposit £1,000; apply online.

Five-year fixed term bonds

Atom Bank: 2.70% – minimum deposit £50; apply via mobile app.

Vanquis Bank: 2.70% – minimum deposit £1,000; apply online.

Seven-year fixed term bonds

Bank of London and the Middle East: 2.75% – minimum deposit £1,000; apply online; sharia bank so rate is expected profit rate.

Regular savings accounts

Nationwide Flex Regular: 5% – maximum deposit £250 a month; must have a Nationwide current account and have paid at least £750 per month for at least the last three months or who have switched to Nationwide in the last four months. The account reverts to an instant access account after 12 months.

First Direct Regular Saver: 5% – minimum deposit £25 a month, maximum deposit £300 a month; must have a First Direct 1st Account; account reverts to the Savings Account or Everyday e-Saver after 12 months.

Marks & Spencer Bank Monthly Saver: 5% – minimum deposit £25 a month, maximum deposit £250 a month; must have an M&S current account; the account reverts to the Everyday Savings Account or Current Account after the first 12 months.

Easy Access cash ISAs

Virgin Money: 1.45% – minimum deposit £1; apply and access online; maximum of two withdrawals per year.

Paragon Bank: 1.35% – minimum deposit £1; apply and access online.

One-year fixed term cash ISAs

Shawbrook Bank: 1.66% – minimum deposit £5,000; apply online; withdrawals allowed subject to 90 days’ loss of interest.

Aldermore: 1.65% – minimum deposit £1,000; apply online; withdrawals allowed subject to 90 days’ loss of interest.

Two-year fixed term cash ISAs

Shawbrook Bank: 1.86% – minimum deposit £5,000; apply online; withdrawals allowed subject to 180 days’ loss of interest.

Aldermore: 1.85% – minimum deposit £1,000; apply online; withdrawals allowed subject to 180 days’ loss of interest.

Three-year fixed term cash ISAs

Shawbrook Bank: 2.01% – minimum deposit £5,000; apply online; withdrawals allowed subject to 270 days’ loss of interest.

Aldermore: 2.00% – minimum deposit £1,000; apply online; withdrawals allowed subject to 180 days’ loss of interest.

Five-year fixed term cash ISAs

Shawbrook Bank: 2.27% – minimum deposit £5,000; apply online; withdrawals allowed subject to 360 days’ loss of interest.

Charter Savings Bank: 2.26% – minimum deposit £1,000; apply online; withdrawals allowed subject to 270 days’ loss of interest.

 

Source: Savings Champion

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