Secure Trust Bank stole the limelight this week in the savings market, with no less than SEVEN new best buys.
In the notice account best buy table, the provider now occupies three out of the five positions available.
The provider was also busy in the fixed rate bond arena, launching market-leading three year and five year bonds and best buy two and four year options.
Investec also improved its fixed rate bond range this week, with two accounts entering the top five for the respective terms.
Marsden Building Society made a rare appearance in our fixed rate cash ISA tables, taking top spot in the three year table.
In the easy access market, the only new move of note this week came from Tesco Bank, taking up position in the top five - but not troubling the current leaders.
Elsewhere, there were fewer notable changes, though many of the key market leaders remained in place for at least another week.
Read on for the lowdown on sharia fixed term accounts and variable rate cash ISAs to help you choose the right account for your savings.
For an overview of the whole savings market and to look at the top options in all categories, make sure you consult our independent best buy tables and if you want to keep up to date with best buy rates as they hit the market, sign up to our Rate Alert emails.
Notice Accounts
Secure Trust Bank has dominated proceedings in this area of the market this week, taking three positions in our best buy table.
The provider’s new 120 day notice account pays 1.84% AER, its 90 day notice account pays 1.82% AER and its 60 day notice account pays 1.60% AER.
Offering a higher return than easy access accounts but not tying yourself in for a longer term, notice accounts may be worth considering as the middle ground between these two extremes.
For further information on these accounts and the rest of our top five, please refer to our notice account best buy table.
Fixed Rate Bonds
Secure Trust Bank was also active in the fixed rate bond market this week, entering four of our best buy tables.
The provider took top spot in both the three year (2.41% gross/AER) and five year (2.71% gross/AER) tables.
Secure Trust also features in the top five for two years (2.27% gross/AER) and four years (2.42% gross/AER).
Elsewhere this week, Investec launched new versions of its fixed rate bonds – with the two year (2.30% gross/AER) bond now joint top of the table, alongside OakNorth.
The provider’s new three year option (2.40% gross/AER) takes joint second place behind the aforementioned account from Secure Trust.
Meanwhile, OakNorth leads the way for one year (2.02% gross/AER) and Ikano Bank is still top for four years (2.45% gross/AER).
For full information on each of these accounts and for a range of other options, please refer to our full fixed rate bond best buy tables.
Fixed Rate Cash ISAs
Marsden Building Society made a rare appearance in our fixed rate cash ISA best buys this week, taking pole position amongst three year ISAs.
The new account pays a market-leading rate of 1.95% gross/AER.
For those looking at a shorter term, Charter Savings Bank leads the way for one year, paying 1.60% tax free/AER.
Bank of Cyprus UK* and Paragon share the lead in our two year table, both providers paying 1.82% tax free/AER.
Then at the other end of the term scale, Shawbrook Bank pays the top rate for five years - 2.25% tax free/AER.
To view our top five accounts across the full range of terms, please refer to our full fixed rate cash ISA best buy tables.
Easy Access
Tesco Bank made the only move of note this week in the easy access market, moving into our top five with a new version of its Internet Saver.
The new version of the account pays 1.42% gross/AER, though this rate does include a 0.87% gross/AER bonus for the first 12 months, so will have to be reviewed after a year.
Marcus by Goldman Sachs is still sitting pretty at the top of the table, paying 1.49% gross/1.50% AER.
Again, the rate does include a small bonus of 0.15% for the first 12 months, so you may need to review things after the first year.
Further information on both of these accounts and the rest of the current top five can be found in our easy access best buy table.
Sharia Fixed Term Accounts
If you are looking for an alternative fixed term account, Sharia accounts may be worth considering.
BLME continues to hold the top spot with its five year Premier Deposit Account, paying 2.70% gross/AER*.
If you’re looking for shorter terms, Al Rayan is paying 2.40% gross/AER for three years and BLME pays 2.05% gross/AER for one year*.
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 and 1.80% tax free/AER for two years.
Please refer to our sharia fixed term accounts best buy table for more information on the accounts above and read our recent article for more on sharia accounts and how they work.
Variable Rate Cash ISAs
Few changes to report here this week, as Charter Savings Bank continues to lead the way, paying 1.45% tax free/AER on its 95 day notice account - a permanent fixture in our table it seems.
If you are looking for a straightforward easy access account, Leeds Building Society is the top pick, paying 1.38% tax free/AER – not far behind Charter.
For further information on these accounts and to see how the rest of the top five stacks up, please refer to our variable rate cash ISA best buy table.
If you would like any help with your savings, why not give one of our Bath-based experts a call on 0800 011 9705, we’d love to hear from you.
*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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