As the Bath Christmas market, which is just outside our offices, draws to a close, a number of providers have unveiled some early Christmas treats.
Aldermore made waves among fixed rate cash ISAs, with no less than three new market-leading accounts launched.
Providers have also been busy in the easy access arena this week, with new best buy appearances from West Brom Building Society and RCI Bank.
Not a huge amount of action this week in the fixed rate bond arena – although there was a new best buy in the one year table from Masthaven.
There was also a new entry in the notice account best buy table, with Charter Savings Bank’s improved 60 day offering displacing Secure Trust Bank.
If you’re looking for other options, we have also included the lowdown on sharia fixed term accounts and variable rate cash ISAs to help you select the most suitable savings account for your circumstances.
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
Aldermore stole the show this week in the fixed rate cash ISA arena, launching improved one, two and three year fixed rate cash ISAs that are all market leading.
The new version of its one year fixed rate cash ISA pays a market-leading rate of 1.65% tax free/AER*, joining Shawbrook Bank at the top of our table.
Its new two year fixed rate cash ISA pays 1.85% tax free/AER*, taking sole charge of our table.
Meanwhile, its improved three year option pays 2.00% tax free/AER* – again leading the way and this time by a significant margin.
To view our top five accounts across the full range of terms, please refer to our full fixed rate cash ISA best buy tables.
Easy Access Accounts
The West Brom launched its Direct Double Access account this week, which took a share of top spot in our table.
The new account pays 1.50% gross/AER, although - as the name suggests - you are limited to just two withdrawals per year or the rate paid plummets, so may not suit everyone.
Alongside West Brom and also allowing just two withdrawals each year is Virgin Money and then its Marcus by Goldman Sachs, which does not restrict you to a set number of withdrawals, but the rate does include an introductory bonus for the first 12 months.
Also new to our table this week and not including any introductory bonus or restriction to the number of withdrawals, unlike the accounts above, is the Freedom Savings Account* from RCI Bank. The improved rate of 1.42% gross/AER also applies to those who already hold the account.
Further information on these accounts and the rest of the current top five can be found in our easy access best buy table.
Fixed Rate Bonds
An unusually quiet week in this area of the savings market, with Masthaven making the only real move of note.
The provider launched a new version of its one year fixed rate bond paying a higher rate of 2.02% gross/AER – taking second position in our best buy table.
We continue to see three providers - Tandem, Investec and Atom Bank - leading the way, each paying 2.05% gross/AER.
And, don’t forget, there is a way to get 2.15% for one year.
The overall return of 2.15% can be achieved* on a one year fixed rate bond through Raisin UK.
More details on this can be found in our recent article - What's new with Raisin UK?
Meanwhile, Investec still leads the way for two years, paying 2.35% gross/AER on its 2 Year Fixed Term Deposit.
There is also a three-way tie in our three year table, with Tandem, Investec and Atom Bank all paying 2.40% gross/AER.
Finally, Atom Bank pays a market-leading rate of 2.70% gross/AER on its five year fixed rate bond.
For full information on each of these accounts and for a range of other options, please refer to our full fixed rate bond best buy tables.
Notice Accounts
Making its way back into our notice account best buy table was Charter Savings Bank, launching an improved version of its 60 day notice account and replacing Secure Trust Bank in the process. The account pays 1.61% gross/AER.
Gatehouse Bank maintains its lead with its 120 day notice account paying 1.87% gross/AER and its 95 day notice account paying 1.85% gross/AER – occupying the top two spots in our table.
For further information on this account and the rest of our top five, please refer to our notice account best buy table.
Sharia Fixed Term Accounts
Sharia accounts are still paying competitive rates and, in some cases, may be worth considering as an alternative to the fixed rates mentioned earlier.
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*.
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
Virgin Money retains its lead in our table, with its Double Take E-ISA paying 1.45% tax free/AER.
You are restricted to just two withdrawals per year, although it matches the rate paid on the well-established 95 day notice ISA from Charter Savings Bank.
If you are looking for a cash ISA with easy access to your money, without a restriction on the number of withdrawals you can make in a year, Leeds Building Society offers the top rate at 1.38% 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.
If you would like any help with your savings, why not give one of our Bath-based experts a call on 0800 011 9705, we’d love to hear from you.
*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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