Rates Rundown: Charter Savings Bank’s best buy bank holiday bonanza!

25th May 2018

There’s only one candidate for headline-maker of the week, with Charter Savings Bank launching no less than SEVEN best buy accounts on Thursday - including a number of market-leaders.

The provider unleashed a veritable bucket-load of new best buys, including a market-leading variable rate cash ISA, one and two year fixed rate cash ISAs and a top-paying notice account.

Not content with just these accounts, the provider also launched a new best buy one year fixed rate bond, as well as a further two notice accounts – giving savers a range of different notice periods to choose from.

Elsewhere, Atom Bank launched an improved range of fixed rate bonds, including a market-leading one year option. Then late in the week, OakNorth Bank made a number of improvements to its fixed rate bonds, with its one and two year options both appearing in the respective tables.

Unusually, there were no changes in our easy access best buy table this week, with Bank of Cyprus UK* still leading the way.

Finally, the latest Consumer Prices Index (CPI) figures were released by the Office for National Statistics (ONS) on Wednesday, with the lowest rate seen for 13 months (2.40%). There are now a number of longer-term fixed rate bonds that beat CPI inflation – for more information on these, visit our fixed rate bond best buy tables.

As always, watch this space as we continue to bring you the latest news - or sign up to our Rate Alert emails to find out about new accounts as they hit the market.

Variable Rate Cash ISAs

The first of the seven new best buys from Charter Savings Bank this week is in the variable rate cash ISA category, with its new 95 day notice cash ISA now top of the pile.

The account pays 1.40% tax free/AER and, as the name suggests, 95 days’ notice is required for any withdrawals, unless a charge is paid.

The top-paying cash ISA with easy access to your money is from Al Rayan Bank, paying 1.35% tax free/AER.

To take a closer look and compare these accounts to the best of the rest, click here for our variable rate cash ISA best buy table.

Notice Accounts

Charter Savings Bank also unleashed three new notice accounts this week, each making it into our best buy table.

The new 95 day notice account pays 1.67% gross/AER and tops the table. Also included are a new 60 day notice account paying 1.46% gross/AER and a 30 day notice account paying 1.36% gross/AER.

For more on each of the above accounts and for further options, visit our notice accounts best buy table.

Fixed Rate Bonds

Perhaps not quite as impressive as the other best buys launched by Charter Savings Bank this week was its new one year fixed rate bond paying 1.81% gross/AER. Nevertheless, the account makes it into the top five.

Atom Bank maybe stole the limelight a little amongst one year fixed rate bonds, launching a market-leading account, paying 1.95% gross/AER.

This was part of a range of improvements made to the provider’s fixed savers, with its new two year (2.10% gross/AER) and three year (2.25% gross/AER) accounts also making it into the top five for the respective terms.

It is worth noting that the accounts from Atom Bank can be both applied for and managed via the provider’s mobile app only, so may not suit every saver.

Then late in the week, OakNorth Bank made some improvements to its fixed rate bonds. The provider is now paying 1.86% gross/AER for 12 months, taking joint second position in the table and 2.12% gross/AER for 24 months, joining Secure Trust Bank at the top.

Meanwhile RCI Bank tops the three year table, paying 2.31% gross/AER* and amongst the longer-term fixed rate bonds, Vanquis Bank still dominates, paying an inflation-busting 2.52% gross/AER for four years* and 2.70% gross/AER for five years*.

For more detail on each of these accounts or to view other leading rates across the full range of terms, please refer to our fixed rate bond best buy tables.

Fixed Rate Cash ISAs 

Finally, Charter Savings Bank also now dominates proceedings amongst shorter-term fixed rate cash ISAs.

Its new one year ISA is paying 1.52% tax free/AER and its two year ISA is 1.69% tax free/AER – both market-leading rates.

Elsewhere, Aldermore is top for three years (1.80% tax free/AER) and Shawbrook Bank for five years (2.30% tax free/AER).

For more on each of the above accounts and for further options, visit our fixed rate cash ISA best buy tables.

Easy Access Accounts

After a number of changes and new leaders over the past few weeks, it was an unusually quiet week in this area of the market, with no changes to report.

Bank of Cyprus UK* still sits at the summit of our best buy table, paying 1.32% gross/AER, though it is worth noting that there is an introductory bonus of 0.47% included in the interest rate, so you may need to review the account after the first year.

For more information on this account and for the rest of the current top five, take a look at our easy access best buy table.

If you need any help with your savings, why not give one of our Bath based savings experts a call on 0800 011 9705, we’d love to hear from you.

Meanwhile if you want to keep up to date with the best rates as they hit the savings market, follow us on Twitter or sign up to our Rate Alert emails for the latest new accounts hot off the press.

*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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