Savings News & Alerts

Written by our founders Anna and Sue

Rate Alerts

Regular updates on the savings market

🔔 Don't delay, secure a good savings deal while you can

Author: Anna Bowes
06th August 2016

Savings Champion Rate Alert

Saturday 6th August 2016
As we await the full impact on the savings market, following the cut in the Bank of England base rate, we have already seen top deals falling out of the best buys. At this stage the best advice is that if you see an account you are interested in, you may not want to delay, but rather act before it disappears.
 
If you are concerned about falling rates, it may be worth considering a fixed rate account, but remember to keep some money accessible for a rainy day.

It may also be worth looking at high interest current accounts, with rates far ahead of the best on offer from standard savings accounts. Even with a rate cut, the return is likely to be higher than you can get elsewhere. Remember, these accounts may also be withdrawn by providers, so you may need to act quickly, if you want to take advantage.

So, with all this in mind, please find below a summary of some of the top-paying accounts currently on the market. If you need any help with your savings, please get in touch on0800 321 3581, we’d love to hear from you.
 
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%

RCI Bank

 3 Year Fixed Term Savings Account

£1,000

 1.85%

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

 Shawbrook Bank

1.55%

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.