🔔 New bank improves interest rates

Author: Anna Bowes
20th December 2016

Savings Champion Rate Alert

Tuesday 20th December 2016

Having launched with a set of competitive rates at the end of last month, Masthaven Bank has today made improvements to some of its rates, with its 3 year fixed rate bond now market leading, joining its 4 and 5 year bonds at the top of our best buy tables.

Interestingly, the provider gives you the option to choose your own term, so for the exact interest rate for your chosen term, please see Masthaven Bank's website. Below is a summary of some of the more common terms.

1 Year Fixed Term Bond - 1.35% gross/AER
2 Year Fixed Term Bond - 1.53% gross/AER
3 Year Fixed Term Bond - 1.67% gross/AER
4 Year Fixed Term Bond - 1.84% gross/AER
5 Year Fixed Term Bond - 2.01% gross/AER

For more information on the provider, the latest addition to our best buy tables, take a look at our recent Provider Focus Article.
 
Alternatively, for those looking for easy access to their money, up to 5% AER is available through High Interest Current Accounts*, from the likes of Nationwide. Amongst standard accounts, 1% gross/AER is available from RCI Bank^, NS&I and others or for those who are yet to use their ISA allowance for the current tax year, Coventry Building Society offers 1.10% tax free/AER on its easy access cash ISA.

As always, 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

Tesco Bank / RCI Bank^NS&I /
Leeds Building Society

1.00%

Fixed Rate Bonds

Masthaven Bank (5 years)

2.01%

Variable Rate ISAs

Coventry Building Society

1.10%

Fixed Rate Cash ISAs

Paragon Bank (5 years)

1.60%

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

Saffron Building Society / Halifax 
(Regular Savers)

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.