Maximise your interest to reduce the impact of inflation

13th September 2017

Savings Champion Rate Alert

Wednesday 13th September 2017

 

 

Yesterday it was announced that inflation, as measured by the Consumer Prices Index (CPI), has risen to 2.90% from 2.60%. Therefore, it remains as important as ever to make your hard-earned savings work as hard as possible.

Many High Interest Current Accounts continue to pay interest rates far higher than standard easy access accounts, albeit on smaller balances. So, for those who are willing to put in the extra work required to meet the more complex terms and conditions, rates of up to 5% AER can be achieved.

For those who have larger deposits, it remains important to keep some money in an Easy Access Account for a rainy day, with accounts paying up to 1.25% gross/AER.

It is also worth considering Fixed Rate Bonds to maximise your interest, although many providers will not allow the funds to be accessed before the account matures. So, be sure you can tie this money up for the full term of the bond.

Finally, for those who haven't used their Cash ISA allowance this year or for those looking to transfer to a new account, take a look at our Variable Rate Cash ISA and Fixed Rate Cash ISA tables.

For other options, click on the links below or 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

Secure Trust Bank (5 years)

2.51%

Variable Rate ISAs

Hinckley & Rugby Building Society (120 days notice)

1.20%

Fixed Rate Cash ISAs

Virgin Money / United Trust Bank (5 years)

2.15%

Notice Accounts

Secure Trust Bank (180 days)

1.65%

Monthly Income

Atom Bank (5 years)

2.37% 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.

 

Contact Us