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Written by our founders Anna and Sue

Rate Alerts

Regular updates on the savings market

🔔 Base rate on hold for now - time to act!

Author: Anna Bowes
14th July 2016

Savings Champion Rate Alert

Thursday 14th July 2016
Today it has been announced that the Bank of England Base Rate will remain at 0.50%, despite many experts predicting a reduction.

Although a change did not happen today, experts still believe that the base rate will fall in the coming months. Much of this speculation was fuelled by Mark Carney, the governor of the Bank of England, stating that "Some monetary policy easing will likely be required over the summer", following the EU referendum result.

In the lead up to today's decision, we had already seen many top-paying savings accounts withdrawn, so now is the time to act, don't delay as the top rates are not necessarily going to hang around.

Fixed rate accounts are another consideration for those who are uncertain about what will happen to rates going forward, but again, if you are interested in opening them, it would be best to act quickly before the top rates disappear.

So, 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
Nationwide Building Society

FlexDirect Current Account

£1 - £2,500

 5.00%

RCI Bank

 Freedom Savings Account

£100

 1.45%
Charter Savings Bank

1 Year Fixed Rate Bond

£1,000

 1.79%

RCI Bank

 3 Year Fixed Term Savings Account

£1,000

 2.15%

Vanquis Bank

 5 Year Fixed Rate Bond

£1,000

 2.31%
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)

2.31%

Variable Rate ISAs

Clydesdale Bank / Yorkshire Bank

1.50%

Fixed Rate Cash ISAs

Nationwide Building Society (5 years)

2.00%

Notice Accounts

 Charter Savings Bank

1.55%

Monthly Income

Vanquis Bank (5 years)

2.29%

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

Buckinghamshire Building Society

3.00%

* 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.