🔔 Rates Rundown: The savings market experiences a significant slowdown as May draws to an end…

In the final four day week of May, bringing the month to an end, we have seen a lull in proceedings across the savings market – especially when looking at the best buy tables.

The most notable moves came from Shawbrook Bank, launching a new joint-leading two year fixed rate bond and later from OakNorth, launching a number of new fixed rate accounts - most prominent - its one year product that entered our best buy table.

Elsewhere, we saw little movement amongst our variable and fixed rate cash ISA tables, with last week's headliner, Charter Savings Bank, still holding the leading positions.

Additionally, the easy access market saw another quiet seven days, with Bank of Cyprus UK ruling the roost for another week.

Fixed Rate Bonds

Shawbrook Bank launched a new two year account this week, matching the market-leading rate (2.12% gross/AER) paid by both Secure Trust Bank and OakNorth, resulting in the trio topping our table.

OakNorth launched a new version of its 12 month bond, paying 1.87% gross/AER, which pushed the provider into second position just 0.01% higher than Paragon (and its own previous version).

Meanwhile, we continue to see the leading spot occupied by Atom Bank in our one year table, paying 1.95% gross/AER.

Amongst the longer term fixed rate bonds, we see the long standing fixture of Vanquis Bank occupying the leading position in both our four year* and five year* tables, while RCI Bank holds onto the lead in our three year table*.

For more information on each of these accounts, and to see how they fare against the rest of the market, please refer to our full fixed rate bond best buy tables.

Fixed Rate Cash ISAs 

We have little to report on this week amongst fixed rate cash ISA, with no movement at the top end of our tables.

Charter Savings Bank remains at the helm of both our one and two year tables, paying 1.52% tax free/AER and 1.69% tax free/AER.

While Aldermore and Shawbrook Bank control the leading spot in our three and five year tables paying 1.80% tax free/AER and 2.30% tax free/AER respectively.

Further information on these accounts, along with other leading rates currently available can be found in our full fixed rate cash ISA best buy tables.

Variable Rate Cash ISAs

Another area of the savings market in which we have seen no movement in our table this week.

Charter Savings Bank retains its market-leading status with its 95 day notice cash ISA, paying 1.40% tax free/AER.

While Al Rayan Bank leads the way for an easy access cash ISA, paying a slightly lower 1.35% tax free/AER.

As always, more information on these accounts and other options available can be found in our variable rate cash ISA best buy table.

Easy Access Accounts

No surprises here – no changes worthy of a mention this week amongst the easy access market.

Bank of Cyprus UK has maintained its perch atop our table, paying 1.32% gross/AER*.

Although leading the way, it is important to be aware that this account includes a bonus for the first 12 months.

For other leading rates and options that are free from any enhanced bonus rate, please refer to our easy access best buy table.

Our Bath based savings experts are on hand if you would like any help with your savings, so why not give us a call on 0800 011 9705, we’d love to hear from you.

Alternatively, if you want to keep up to date with best buy rates as the hit the market, sign up to our Rate Alert emails and follow us on Twitter.

*We are occasionally paid by some providers if you click through from our Best Buy Tables and open a savings or current account with them. We will never accept a payment that compromises in any way our independent, whole of market approach to providing information on savings products. For clarity we will indicate those companies who remunerate us with an asterisk (*).

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