Savings News & Alerts

Written by our founders Anna and Sue

Rate Alerts

Regular updates on the savings market

🔔 Reminder - NS&I rate cuts / New easy access best buy

Author: Anna Bowes
03rd June 2016

Savings Champion Rate Alert

Friday 3rd June 2016
Just to remind you, National Savings & Investments (NS&I) will be reducing the rates on a number of its accounts on Monday (6th June).

The Direct ISA is dropping from 1.25% to 1.00% tax free/AER, the Direct Saver from 1.10% to 0.80% gross/AER and Income Bonds will drop from 1.25% to 1.00% gross/AER.

For many, these changes represent a significant drop in interest and although lots of savers remain fond of NS&I, there are better rates to be found elsewhere.

For a direct alternative, take a look at our Easy Access and Variable Rate ISA Best Buy Tables and if you are looking for even higher returns, you may want to consider High Interest Current Accounts.

Meanwhile, Virgin Money has re-launched its Defined Access Saver, paying 1.26% gross/AER and has now entered our Easy Access Best Buy Table.

For those looking to switch or are simply looking for a better return on their savings, below are a selection of some of the highest paying alternatives currently available.
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%
Santander

123 Current Account 

£3,000 - £20,000

 3.00%

RCI Bank*

 Freedom Savings Account

£100+

 1.45%

Clydesdale / Yorkshire Bank

 Cash ISA - 40 Day Notice

£15,000+

 1.50%
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

Punjab National Bank (5 years)

2.75%

Variable Rate ISAs

Clydesdale Bank

1.50%

Fixed Rate Cash ISAs

Punjab National Bank (5 years)

2.50%

Notice Accounts

 Charter Savings Bank

1.55%

Monthly Income

Punjab National Bank (5 years)

2.75%

Regular Savings

First Direct / M&S Bank

6.00%

Children's Accounts

Halifax (Regular Saver)

6.00%

Junior ISAs

Halifax

4.00%

Help to Buy ISAs

Virgin Money

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.