🔔 Rates Rundown: a smattering of interesting improvements rather than wholesale changes

While there weren’t a huge number of changes this week in the best buys, there were certainly some movers and shakers to keep you up to date with.

There were some noteworthy changes in the fixed rate bond tables this week, with a new market leader in our one year table and a new provider added to the Raisin UK Cash Savings Platform that offers a market-leading two year rate.

>> What are the best fixed rate bond rates currently?

Meanwhile, Sharia compliant accounts continue to offer competitive rates – in some cases higher than the standard fixed rate equivalents - so could also be worth a look.

>> Sharia fixed term account best buy table

There was also a new entrant at the top end of the easy access market – step forward Kent Reliance.

>> Latest easy access best buys

Turning to cash ISAs, OakNorth branched out into the two and three year fixed rate ISA markets, having previously only offered a one year option.

>> Top-paying fixed rate cash ISAs

There were fewer changes amongst variable rate cash ISAs, though there are still a number of competitive options for those looking to utilise their ISA allowance before the end of the current tax year.

>> Top-paying variable rate cash ISAs

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 Bonds

Raisin UK added a new provider to its Cash Savings Platform this week, Axis Bank UK - a provider that already features regularly in our best buy tables.

A key highlight of the options on offer is the provider’s two year offering, which is paying a market-leading rate.

>> 2 Year Fixed Deposit Account – 2.26% gross/AER*

In addition to the top rate on offer, a welcome bonus of up to £100 is on offer for new Raisin UK customers.

>> Find out more about Raisin UK

Amongst shorter-term bonds, Shawbrook Bank moved to the top of our one year best buy table this week.

The new account pays 1.97% gross/AER, taking top spot by the smallest of margins.

Finally, there was a new entrant in our longer-term five year table, taking second spot.

United Trust Bank pays 2.70% gross/AER, next in line after the market-leading account from AgriBank, which pays 3.05%* (through Raisin UK – for more information click on the link above).

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.

Sharia Fixed Term Accounts

No changes to report in this area of the market, but Sharia accounts currently pay some of the best returns on the market, so are worth closer inspection.

Gatehouse Bank is still offering competitive two year, three year and five year fixed term accounts.

>> 2 year Fixed Term Deposit: 2.45% gross/AER*

>> 3 year Fixed Term Deposit: 2.50% gross/AER*

>> 5 year Fixed Term Deposit: 2.75% gross/AER*

These accounts are also available through the Raisin UK savings platform, where a welcome bonus of up to £100 is available for new customers – as mentioned earlier.

>> Find out more about Raisin UK

For those looking for a shorter term, BLME is top of the pile, paying 2.20% gross/AER – head and shoulders above the rest of the one year fixed term market.

Al Rayan is also in amongst the top rates, matching Gatehouse Bank for three years (2.50% gross/AER) and offering a competitive 18 month option, which pays 2.30% gross/AER.

Please refer to our Sharia fixed term accounts best buy table for more information on the accounts above.

>> How do Sharia compliant accounts work?

Easy Access Accounts

The main change of note this week came from Kent Reliance, entering our easy access best buy table in joint first place.

Its new online account pays 1.50% AER, alongside both Virgin Money and Marcus by Goldman Sachs.

For some savers the new account may have the edge over its rivals, as it offers no restriction on the number of withdrawals you can make in a year - unlike Virgin Money.

It also has no introductory bonus included in the rate – in contrast to the account from Marcus.

Also worth noting for those who have taken the opportunity to open The Family Building Society’s Premium Saver (3) paying 1.51% gross/AER, before it’s withdrawal from sale this week, is the limited time you have to put money in the account.

The account has a funding cut-off date of 29 March 2019, after which you cannot add further funds to the account.

Further information on the leading accounts and the rest of our top five can be found in our easy access best buy table.

Fixed Rate Cash ISAs

Having previously only offered a one year fixed rate cash ISA, OakNorth this week expanded its range with the addition of two and three year options.

The new two year ISA pays 1.92% tax free/AER and sits in second place behind Charter Savings Bank (1.95% tax free/AER).

The three year option pays 1.94% tax free/AER, making it into the top five, but some way short of the leader - Charter Savings Bank (2.05% tax free/AER).

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

Variable Rate Cash ISAs

Activity seemed to slow down this week amongst variable rate cash ISAs, though there are still competitive options available.

Santander remains the top-paying option amongst easy access ISAs. The ISA is paying 1.50% tax free/AER - although it is only available to new and existing 1|2|3 World or Santander Select customers.

Next in line is Yorkshire Building Society, with its Single Access Saver ISA that is paying a competitive 1.46% tax free/AER.

The main factor to be aware of with this account is, as the name suggests, you are only able to access your money on one day over the first year, so may not suit everyone.

Available to all and without withdrawal restrictions is Paragon's easy access ISA, paying 1.45% tax free/AER.

For further information on these accounts and the rest of our top five, 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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