🔔 Rates Rundown: Not sweeping best buy changes, but a few gold nuggets to be found…

Whilst it has not been the week for sweeping best buy changes, there have been some interesting new best buys launched and some key players that have stayed in the game.

Following last week’s renewed activity in the fixed rate cash ISA market, the changes kept coming, with Bank of Cyprus UK now leading the way for two years* and three years* - leaving last week’s leader, Aldermore, in its wake.

In the easy access market Marcus still rules the roost, with no provider coming close to the rate on offer yet. Tesco Bank was this week’s most improved offering, breaking into the top five.

Amongst fixed rate bonds, Close Brothers improved its five year bond, taking a share of the spoils at the top of our table.

Elsewhere, there were fewer notable changes, though many of the key market leaders remained in place for at least another week. So, we thought we would take the opportunity to run through some of the best options currently available.

So, read on for the lowdown on sharia fixed term accounts, variable rate cash ISAs and notice accounts to help you choose the right account for your savings.

For an overview of the whole savings market and to look at the top options in all categories, make sure you consult our independent best buy tables and if you want to keep up to date with best buy rates as they hit the market, sign up to our Rate Alert emails.

Fixed Rate Cash ISAs

Last week there was yet more activity in our fixed rate cash ISA tables, with a new market leader in both the two year and three year tables.

New this week, Bank of Cyprus UK’s two year fixed rate ISA is paying 1.82% tax free/AER*, taking over from last week’s key mover, Aldermore.

It’s a similar story in the three year table, with another new account from Bank of Cyprus UK, which pays 1.91% tax free/AER* - again pipping Aldermore to the post.

Interestingly, Aldermore retains the one year crown - its leading account pays 1.60% tax free/AER*.

To view our top five accounts across a variety of terms, please refer to our full fixed rate cash ISA best buy tables.

Easy Access

Tesco Bank improved its easy access Internet Saver this week – breaking into the top five, with a rate of 1.40% gross/AER.

It is worth noting that the rate does include a hefty 0.85% bonus for 12 months, so the rate will drop significantly after the first year.

However, Marcus by Goldman Sachs is still top of the pile, with its market-leading Online Savings Account, paying 1.49% gross/1.50% AER.

The rate does include a small bonus of 0.15% for the first 12 months, so you may need to review things after the first year.

For those looking for a bonus-free easy access account, Charter Savings Bank and Shawbrook Bank both still pay 1.40% gross/AER.

Further information on each of these accounts can be found in our easy access best buy table.

Fixed Rate Bonds

The main move of note this week was in the five year table, with an improved offering from Close Brothers taking a share of top spot.

The new version of the account pays 2.70% gross/AER, joining Ikano Bank at the top of the table.

Meanwhile amongst the shorter terms, OakNorth leads the way for one year (2.02% gross/AER) and Shawbrook Bank and Charter Savings Bank are joint top for two years (both paying 2.27% gross/AER).  

Last but not least, Tandem is still holding the top spot in our three year table (paying 2.40% gross/AER).

For full information on each of these accounts and others, please refer to our full fixed rate bond best buy tables.

Sharia Fixed Term Accounts

If you are looking for an alternative fixed term account, Sharia accounts may be worth considering.

BLME continues to hold the top spot with its five year Premier Deposit Account, paying 2.70% gross/AER*.

If you’re looking for shorter terms, Al Rayan is paying 2.40% gross/AER for three years and BLME pays 2.05% gross/AER for one year*.

Al Rayan Bank continues to lead the way with its fixed term cash ISAs, paying 1.60% tax free/AER on its one year account and 1.80% tax free/AER for two years.

Please refer to our sharia fixed term accounts best buy table for more information on the accounts above and read our recent article for more on sharia accounts and how they work.

Variable Rate Cash ISAs

Charter Savings Bank continues to lead the way, paying 1.40% tax free/AER on its 95 day notice account, a tricky one to budge from top spot.

Next up is Virgin’s Double Take E-ISA (1.38% tax free/AER) which, as the name suggests, allows just two easy access withdrawals per year.

Then comes Paragon, which is the top-paying easy access cash ISA without a restriction on the number of withdrawals (1.37% tax free/AER).

For further information on these accounts and to see how the rest of the top five stacks up, please refer to our variable rate cash ISA best buy table.

Notice Accounts

Last but not least are notice accounts, which can be seen as an interesting compromise between easy access accounts and tying up your money up for a fixed term.

PCF Bank holds onto the leading spot again this week with its 180 day notice account, paying 1.85% gross/AER.

Paragon offers the top rate for a 120 day notice account (1.80% gross/AER), while OakNorth is paying 1.77% gross/AER on its 90 day notice account.

Making up our top five are accounts with shorter notice periods. Kent Reliance’s 60 day notice account and OakNorth’s 35 day notice account are paying 1.50% gross/AER and 1.36% gross/AER respectively.

For further information on these accounts, 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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