Savings News & Alerts

Written by our founders Anna and Sue

Rate Alerts

Regular updates on the savings market

🔔 NS&I Cuts Rates / Nest Best Buys

Author: Anna Bowes
18th September 2015

Savings Champion Rate Alert 

Friday 18th September 2015

Latest News

National Savings and Investments (NS&I) has announced that it will reduce the rate on its Direct ISA from 1.50% to 1.25% on 16th November 2015, affecting both new and existing account holders.

For those looking to switch, keep an eye on our Variable Rate ISA Best Buy Table and Fixed Rate ISA Best Buy Tables.

In the meantime, Post Office has launched a new Online Easy Access ISA paying 1.51% tax free/AER. It now features in our Variable Rate ISA Best Buy Table.

Virgin Money has launched a new 1 year fixed rate ISA paying 1.76% tax free/AER. It now appears in our Fixed Rate ISA Best Buy Tables.

Latest News on the Bank of England Base Rate

Today it was suggested by the Bank of England's Chief Economist that interest rates may have to be reduced further because of the increasingly brittle global economy. This is in contrast to comments made recently by the Governor of the Bank of England, Mark Carney. This follows yesterday's announcement that the United States Federal Reserve decided to maintain interest rates at historic lows, despite weeks of feverish speculation that they may increase rates. This news is as a direct result of the slowdown in the Chinese economy.

It is too early to suggest the BoE will drop rates and whether this would impact on savings rates. We continue to encourage savers to have a balanced portfolio and to continue to be active with their savings. If you have any queries or would like any help, then please feel free to call us on 0800 321 2581.

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 Savings Champion on 0800 321 3581

Best Buy Tables Best Accounts Best Rates (Gross)
High Interest Paying Current Account Nationwide Building Society and TSB Bank 4.89%
Easy Access RCI Bank * 1.65%
Fixed Rate Bond Paragon Bank (5 years) 3.10%
Variable Rate ISA Nationwide Building Society 1.60%
Fixed Rate ISA United Bank Ltd (5 years) 2.55%
Notice Account Charter Savings Bank 2.00%
Monthly Income Paragon Bank (5 years) 3.06%
Regular Savings First Direct and Marks & Spencer 6.00%
Children’s Account Halifax (regular saver) 6.00%

* Deposits held with RCI Bank are covered by the FGDR, which is the French equivalent of the UK Financial Services Compensation Scheme (FSCS). Please contact us if you would like further information. 

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.