A new face in our one year fixed rate cash ISA table, an array of new fixed rate bonds and a new player in our easy access table.
The competition across our fixed rate bond best buy tables has been rife this week. Coinciding with this, we have seen a familiar face surface in unfamiliar territory and finally a new easy access best buy account.
A name we more commonly associate with our five year fixed rate cash ISA table – United Trust Bank – has entered our one year fixed rate cash ISA table in an eye-catching initial assault on this area of the market.
We have also seen a new market-leader come to the fore in our two year fixed rate cash ISA table, in the form of Shawbrook Bank.
Across to the fixed rate bond arena, PCF Bank and Charter Savings Bank both made improvements to their fixed rate bond offerings. This included market-leading rates from both providers, across a range of term lengths.
Late in the week, Kent Reliance injected two new best buy accounts. First off, a new version of its easy access account, taking position just behind the market leader. Followed closely by a new notice account, which again features in our top five.
All the while, Charter Savings Bank continues to lead our variable rate cash ISA table, with no further additions this week.
Before reading on for details of all of this week’s changes, take a moment to sign up to our Rate Tracker service and see how your accounts fare in the current market!
Fixed Rate ISAs
This week United Trust Bank launched a new one year fixed rate cash ISA with a joint market-leading rate.
The new offering joins Paragon, both paying 1.55% tax free/AER.
However, a key difference which is important to note - the new account from United Trust Bank requires a minimum of £15,000 to open – although this can be new ISA funds or transfers of existing cash ISAs.
Our two year table also saw a new leader this week - Shawbrook Bank.
The latest version of its two year fixed rate cash ISA is paying 1.75% tax free/AER and knocked Charter Savings Bank from the throne.
To view our top five accounts across various terms, please refer to our full fixed rate cash ISA best buy tables.
Fixed Rate Bonds
A number of changes spanning our fixed rate bond tables occurred this week, coming from two providers – PCF Bank and Charter Savings Bank.
PCF Bank launched several new bonds, including market-leading one and two year bonds and a joint-third placed three year rate.
At the beginning of the week, PCF Bank’s one year fixed rate bond stormed to the leading position - paying 2.03% gross/AER.
However, this leading rate didn’t hang around for long and going into the weekend the new issue 18 has launched, paying 1.99% gross/AER - dropping the provider from our table.
Meanwhile, also launched early in the week, PCF Bank’s two year fixed rate bond is paying 2.25% gross/AER and holds the joint-leading position.
Additionally, the provider’s three year account is paying 2.36% gross/AER, sitting in joint third with Masthaven*.
Charter Savings Bank holds the leading position in the table, edging out Tandem bank by just 0.01% for the leading position – paying 2.41% gross/AER.
Charter also launched a market-leading five year fixed rate bond. This time edging Masthaven* from the top spot, again by just 0.01%, paying 2.70% gross/AER.
For other top rates across a variety of terms, please refer to our full fixed rate bond best buy tables.
Easy Access
AA has joined Bank of Cyprus UK and Virgin Money in joint-third position in our table this week.
The trio each pay 1.36% gross/AER – although the AA’s latest Easy Saver includes a 1.16% bonus for the first twelve months.
The big news of the week amongst easy access accounts came from Kent Reliance.
The provider launched its new Branch & Online Easy Access account Issue 30, paying 1.37% gross/AER and claiming second position.
Unlike the aforementioned trio and the market-leading Limited Access Saver (2) from Coventry Building Society, Kent Reliance’s offering is a simple easy access account - free from an introductory bonus or restrictions on the number of withdrawals you can make.
Further information on each of these accounts can be found in our easy access best buy table.
Notice Accounts
Secure Trust Bank, a stalwart in our notice account best buy table, has this week been ousted from our table.
Kent Reliance launched a new version of its 60 day notice account, paying 1.50% gross/AER - claiming a position within our top five.
Meanwhile, PCF Bank continues to hold the top spot, with Paragon following closely behind.
For further information on these accounts and to see how the top five stacks up, please refer to our notice account best buy table.
Our Bath based savings experts are on hand if you would like any help with your savings, so why not give us a call on 0800 011 9705, we’d love to hear from you.
Alternatively, if you want to keep up to date with best buy rates as they hit the market, follow us on Twitter and sign up to our Rate Alert emails.
*We are occasionally paid by some providers if you click through from our Best Buy Tables and open a savings or current account with them. We will never accept a payment that compromises in any way our independent, whole of market approach to providing information on savings products. For clarity we will indicate those companies who remunerate us with an asterisk (*).
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