Savings News & Alerts

Written by our founders Anna and Sue

Rate Alerts

Regular updates on the savings market

🔔 Fixed rates keep on rising + New banks enter the market

Author: Anna Bowes
30th November 2016

Savings Champion Rate Alert

Wednesday 30th November 2016
This week we have seen even more positive steps in the fixed rate bond market, with the latest improvement from Hampshire Trust Bank and two new providers enter our best buys.

Hampshire Trust Bank has once again improved the rate on its one year fixed rate bondto 1.40% gross/AER, the second improvement in just one week.

Masthaven Bank entered the savings market this week, announcing its arrival with a set of competitive rates. Additionally, the provider gives you the option to chose your own term, so for the exact interest rate for your chosen term, please see Masthaven Bank's website.

1 Year Fixed Term Deposit Account - 1.35% gross/AER
2 Year Fixed Term Deposit Account - 1.53% gross/AER
3 Year Fixed Term Deposit Account - 1.61% gross/AER
4 Year Fixed Term Deposit Account - 1.81% gross/AER
5 Year Fixed Term Deposit Account - 2.01% gross/AER

Another new addition to our best buy tables is Zenith Bank (UK) Limited, offering 1, 2 and 3 year fixed rate bonds with competitive rates.

1 Year Fixed Term Deposit - 1.30% gross/AER
2 Year Fixed Term Deposit - 1.52% gross/AER
3 Year Fixed Term Deposit - 1.60% gross/AER

With market sentiment suggesting that interest rates may rise next year, for those who don't want to tie their funds up, a variable rate may be worth considering. Rates of up to 5% AER are available from Nationwide* or for those looking for a standard easy access account, RCI Bank^ and NS&I are both offering 1% gross/AER.

As always, we are keen to hear your opinion on new additions to our best buy tables, so please get in touch. If you need any help with your savings or want to discuss further options, please call us on 0800 321 3581, we’d love to hear from you.

Best Savings Deals Summary

If you have any queries regarding our Best Buy Tables, an account featured or the suitability of the account for your needs, please call us on 0800 321 3581.

Best Buy Table Best Account(s) Best Rate (AER)

High Interest Paying Current Account *

Nationwide Building Society

5.00%

Easy Access

 RCI Bank^/ National Savings and Investments

1.00%

Fixed Rate Bonds

Masthaven Bank (5 years)

2.01%

Variable Rate ISAs

 Coventry Building Society

1.10%

Fixed Rate Cash ISAs

Shawbrook Bank (5 years)

1.45%

Notice Accounts

 Charter Savings Bank

1.31%

Monthly Income

Masthaven Bank (5 years)

1.99%

Regular Savings

Nationwide Building Society / First Direct / M&S Bank

5.00%

Children's Accounts

Halifax / Saffron Building Society (Regular Saver)

4.00%

Junior ISAs

Coventry Building Society

3.25%

Help to Buy ISAs

Barclays

2.27%

Our Best Buy Tables are based on whole of market research, independent and have no commercial bias, ensuring that you can rely on them to make an informed decision. Alternatively, please call us on 0800 321 3581 to discuss your savings with one of our expert advisers.

*High interest current accounts often have a number of conditions attached to qualify for the headline rate. Please ensure you carefully read the terms and conditions before proceeding. Many of these current accounts do not require customers to switch their main account.

^Deposits held with RCI Bank are covered up to the value of €100,000 by the FGDR, which is the French equivalent of the UK Financial Services Compensation Scheme (FSCS). For more information on this, please call one of our advisers on 0800 321 3581.