Further waves have struck the shores of the savings market today, initiated again by Virgin Money.

This time we see the launch of a brand new easy access account that crashed into our best buy table and another improved version of one of its fixed rate cash ISA range.

We have also seen improvements made in the Sharia account arena, with Al Rayan Bank launching new versions of a number of its fixed term deposit accounts.

Virgin Money has released a new version of its 5 year fixed rate cash ISA that joins the shorter 1 and 2 year products at the crest of our best buy tables.

The 5 year product pays 2.15% tax free/AER and could provide a home for previously accrued ISA funds, as transfers in are permitted.

Looking at the easy access sector, Virgin Money has breached our best buy tables with its new Double Take E-Saver, paying 1.21% gross/AER. This sees the provider stake claim to second position in our table, just ahead of RCI Bank, Shawbrook Bank and Bank of Cyprus UK, which all pay 1.20% gross/AER.

It is important to be aware, that as the name states, you are only permitted to ‘take’ (make a withdrawal) twice per calendar year.

If we glance across to the Sharia Account domain, we see Al Rayan Bank making improvements across a range of its fixed term accounts.

Most striking of the bunch is the 36 Month Fixed Term Deposit account, which pays 2.30% gross/AER and holds the market-leading rate for the term.

Before opening a Sharia compliant account, it is important to fully understand and be comfortable with the functionality and differences compared to a standard fixed term savings account. For more information, please get in touch.

If you would like any help with your savings, please call us on 0800 321 3581, we’d love to hear from you.

High Interest Paying Current Account *

Nationwide Building Society

5.00%

Easy Access

Ulster Bank

1.25%

Fixed Rate Bonds

Atom Bank / Vanquis Bank (5 years)

2.50%

Variable Rate ISAs

Hinckley & Rugby Building Society (120 days notice)

1.20%

Fixed Rate Cash ISAs

Virgin Money (5 years)

2.15%

Notice Accounts

Secure Trust Bank (180 days)

1.65%

Monthly Income

Atom Bank / Vanquis Bank (5 years)

2.47% gross

Regular Savings

Nationwide Building Society / First Direct / M&S Bank / Santander

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%

Sharia Accounts

BLME (5 years)

2.50%