Savings News & Alerts

Written by our founders Anna and Sue

Rate Alerts

Regular updates on the savings market

🔔 Base rate has fallen - act now!

Author: Anna Bowes
04th August 2016

 

Savings Champion Rate Alert
Thursday 4th August 2016
Today, it was announced that the Bank of England Base Rate has been cut from 0.50% to 0.25%, after remaining unchanged for over 7 years.

In the lead up to today's decision, we had already seen cuts being made left, right and centre to both new and existing savings accounts. So, now is the time to act, don't delay as many top rates have already been withdrawn.

If your account is not paying a competitive rate or if you are simply looking for the best deals available, please find below a summary of some of the top-paying accounts currently on the market.
Provider Account Name Balance AER
TSB Bank

Classic Plus Account

£1 - £2,000
5.00%

Nationwide Building Society
FlexDirect Current Account

£1 - £2,500
5.00%
Paragon Bank

One Year Fixed Rate Account

£1,000
1.55%

Investec Bank
3 Year Fixed Term Deposit

£25,000
1.90%

Vanquis Bank
5 Year Fixed Rate Bond

£1,000
2.20%
Full Best Buy Tables »

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 us on 0800 321 3581

Best Buy Table Best Account(s) Best Rate (AER)

High Interest Paying Current Account

TSB Bank /
Nationwide Building Society

5.00%

Easy Access

RCI Bank*

1.45%

Fixed Rate Bonds

Vanquis Bank (5 years)

2.20%

Variable Rate ISAs

Clydesdale Bank / Yorkshire Bank

1.50%

Fixed Rate Cash ISAs

United Trust Bank (5 years)

1.95%

Notice Accounts
Charter Savings Bank

1.61%

Monthly Income

Vanquis Bank (5 years)

2.18%

Regular Savings

First Direct / M&S Bank

6.00%

Children's Accounts

Halifax / Saffron Building Society (Regular Saver)

4.00%

Junior ISAs

Coventry Building Society / Nationwide Building Society

3.25%

Help to Buy ISAs

Halifax

2.50%

* 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.