Savings News & Alerts

Written by our founders Anna and Sue

Rate Alerts

Regular updates on the savings market

🔔 New provider enters our best buy tables

Author: Anna Bowes
24th July 2017

Savings Champion Rate Alert

Monday 24th July 2017

  

 

Today, we have seen a new entrant to the savings market that has headed straight into our best buy tables.

PCF Bank launched today, with a range of fixed term deposit accounts and a 100 day notice deposit account. The most prominent of its fixed term deposit accounts is its 1 year and 4 year terms.

These two accounts now feature in our respective best buy tables, paying 1.76% gross/AER and 1.90% gross/AER. Both accounts are available to open online or by post, with a minimum of £1,000.

We saw further movement in the fixed rate bond arena, this time from Ikano Bank^. New versions of a variety of its fixed saver accounts were launched, all with improved rates. The most striking is its Fixed 4 Year Saver paying 2.10% gross/AER, which pushes the provider up to second position in our table.

Meanwhile, Vanquis Bank continues to hold top spot, paying 2.20% gross/AER on its 4 Year Fixed Rate Bond.

To see how these accounts hold up in comparison to other available options, please refer to our best buy tables.

If you would like any help with your savings, please call us 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.

^Ikano Bank is not covered by the UK Financial Services Compensation Scheme (FSCS), but by the Swedish equivalent, the Swedish Deposit Insurance Scheme. This covers funds up to a value of £85,000. For more information, please call one of our advisers.