Savings News & Alerts

Written by our founders Anna and Sue

Rate Alerts

Regular updates on the savings market

🔔 Inflation rises - how do your accounts compare?

Author: Anna Bowes
19th July 2016

Savings Champion Rate Alert

Tuesday 19th July 2016

Today it was announced that inflation, as measured by the Consumer Price Index (CPI), has risen to 0.50%, from 0.30% last month.

Whilst inflation remains low, there are still well over 900 savings accounts that pay a paltry 0.50% or less, which means that over a quarter of accounts (26%) are not even beating inflation.

So, if any of your accounts are paying less than inflation or you simply wish to improve your returns, switch now. Below are a few of the highest rates available, click on the links for more information.

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.