Savings News & Alerts

Written by our founders Anna and Sue

Rate Alerts

Regular updates on the savings market

🔔 Inflation holds at 2.60%

Author: Anna Bowes
15th August 2017

Savings Champion Rate Alert

Tuesday 15th August 2017

  

 

Today, it was announced that inflation, as measured by the Consumer Prices Index (CPI), remained at 2.60%.

With this in mind, when considering that the highest paying easy access account currently pays 1.25% gross/AER, from Ulster Bank on its eSavings account, it's certainly challenging times for savers.

Cue PCF Bank - the only provider in the savings market currently offering a rate that matches inflation, on its 7 Year Term Deposit (paying 2.60% gross/AER). Although you would need to consider the long period with no access to your funds.

However, it is still possible to beat inflation and retain easy access through High Interest Current Accounts*, with rates of up to 5.00% AER available, albeit on far lower balances.

For further information on these accounts please refer to our best buy tables or for advice on how to beat inflation, give us a call on 0800 321 3581, we’d love to hear from you.

Best Savings Deals Summary

Best Buy Table

Best Account(s)

Best Rate (AER)

High Interest Paying Current Account *

Nationwide Building Society

5.00%

Easy Access

Ulster Bank

1.25%

Fixed Rate Bonds

Vanquis Bank (5 years)

2.50%

Variable Rate ISAs

Hinckley & Rugby Building Society (120 days notice)

1.20%

Fixed Rate Cash ISAs

United Trust Bank (5 years)

2.10%

Notice Accounts

Secure Trust Bank (180 days)

1.65%

Monthly Income

Vanquis Bank (5 years)

2.47% gross

Regular Savings

Nationwide Building Society / First Direct / M&S Bank / Santander

5.00%

Children's Accounts

Saffron Building Society / Halifax 
(Regular Savers)

4.00%

Junior ISAs

Coventry Building Society

3.25%

Help to Buy ISAs

Barclays

2.27%

Sharia Accounts

BLME (5 years)

2.50%

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.

*High interest current accounts often have a number of conditions attached to qualify for the headline rate. Please ensure you carefully read the terms and conditions before proceeding. Many of these current accounts do not require customers to switch their main account.