The main news this week was in the easy access market, with a new table-topping rate launched by Yorkshire Building Society – read on for more details!
It was unusually quiet in the fixed rate bond market over the last seven days, with the most noteworthy move coming from Paragon. The provider launched a new version of its three year bond, claiming a position in our top five.
Elsewhere, while there have been fewer new accounts entering the market this week, we also haven’t seen a huge exodus from the best buys - with a number of key market leaders still in pole position.
So, this week we summarise the key accounts in our sharia fixed term account, fixed rate cash ISA, variable rate cash ISA and notice account best buy tables to help you choose the right account for your circumstances.
Easy Access
This week Yorkshire Building Society stole the headlines, with the launch of a new version of its Single Access Saver.
The latest version is paying 1.41% gross/AER, heading straight to the top spot in our table.
It is important to be aware that, as the name suggests, you can only access funds once throughout the 12 month period that the account runs for.
Coventry Building Society has therefore dropped to second position, offering 1.40% gross/AER on its Limited Access Saver (2). Again, this account has a restriction on the number of easy access withdrawals (three).
Kent Reliance offers the best rate for those looking for an account without a restriction on the number of withdrawals, paying 1.37% gross/AER on its Branch & Online Easy Access account Issue 30.
Further information on each of these accounts can be found in our easy access best buy table.
Fixed Rate Bonds
Paragon launched a new three year bond this week, paying 2.37% gross/AER.
This saw the provider scale our table, coming to rest in third position ahead of Masthaven* and PCF Bank.
We continue to see Charter Savings Bank rule the roost, paying 2.41% gross/AER, while Tandem holds second place, just 0.01% behind the leader.
ICICI Bank continues to reign over our one year table for another week, as Tandem holds the top spot in our two year table (paying 2.25% gross/AER).
In the longer four year table, Masthaven sits at the top of the pile paying 2.53% gross/AER* gross/AER, with Vanquis Bank hot on its heels, paying 2.52% gross/AER*.
Charter Savings Bank occupies the leading position in our five year table, paying an inflation-matching 2.70% gross/AER.
This time Masthaven falls just 0.01% short of the leading rate, paying 2.69% gross/AER* on its five year offering.
For other top rates across a variety of terms, please refer to our full fixed rate bond best buy tables.
Sharia Fixed Term Accounts
BLME continues to hold the top spots with its one, three and five year Premier Deposit Accounts*, while Al Rayan Bank claims two positions with its fixed term ISA offerings.
The lead position is held by BLME’s five year Premier Deposit Account, paying 2.70% gross/AER*.
All the while, Al Rayan Bank continues to lead the way with its fixed term cash ISAs, paying 1.60% tax free/AER on its one year account.
This compares favourably to standard fixed rate cash ISA accounts, where the leading rate is 1.55%, available from both Paragon and United Trust Bank.
As ever, more information on these accounts can be found in our sharia fixed term accounts best buy table.
Fixed Rate Cash ISAs
A mentioned above, we have joint leaders in our one year table, with Paragon and United Trust Bank both paying 1.55% tax free/AER.
In our two year table, Shawbrook Bank continues to sit ahead of the pack, paying 1.75% tax free/AER, with Charter Savings Bank in second paying 1.71% tax free/AER.
Monmouthshire Building Society remains in the leading position in our three year table, paying 1.91% tax free/AER.
Finally, our five year table has joint leaders, this time in the form of Coventry Building Society and (again) United Trust Bank - both paying 2.30% tax free/AER.
To view our top five accounts across a variety of terms, please refer to our full fixed rate cash ISA best buy tables.
Variable Rate Cash ISAs
Charter Savings Bank continues to lead the way, paying 1.40% tax free/AER on its 95 day notice account, which is becoming somewhat of a permanent fixture at the top of our table.
Behind Charter, we find Al Rayan Bank and Virgin Money, both offering 1.35% tax free/AER on their respective easy access cash ISAs. Although Virgin Money’s offering limits you to two withdrawals each year.
For further information on these accounts and to see how the top five stacks up, please refer to our variable rate cash ISA best buy table.
Notice Accounts
Notice accounts offer a middle-ground option that could be suitable for some savers, offering a higher return without tying your money up for a fixed term. So, if you are happy to give a provider notice to withdraw your money, read on.
PCF Bank holds onto the leading spot this week with its 180 day notice account, paying 1.85% gross/AER.
Paragon offers the top rate for a 120 day notice account (1.80% gross/AER), while OakNorth is paying 1.77% gross/AER on its 90 day notice account.
Rounding off our top five, we have Kent Reliance’s 60 day notice account and Charter Savings Bank’s 30 day notice account, paying 1.50% gross/AER and 1.36% gross/AER respectively.
For further information on these accounts, please refer to our notice account 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 they hit the market, follow us on Twitter and sign up to our Rate Alert emails.
*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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