It’s that time of the year when banks and building societies start to shut up shop and put their more ambitious plans on hold until the new year, anticipating that many savers’ attention will be on festive matters, rather than looking for a new account.
However, whatever the time of year, Savings Champion is always on the lookout for good savings deals and we will continue to bring you any news right through to New Year (barring a couple of bank holidays in between!).
In the meantime, a number of you may be using some of your time off over Christmas to finally get around to moving your funds to a better account, so read on for a round-up of some of the top options this week in the savings market.
If you have some spare time, why not take a few minutes to review your existing accounts and see what the current rates are, using our free Rate Tracker service
We will also still be sending out Rate Alert emails, with any new and interesting accounts – so, if you’re languishing in a low-paying account, make the switch!
Easy Access Accounts
There’s not much change to report in the easy access market this week, with the consistent RCI Bank and recently improved Post Office pick of the crops.
Newly crowned Best Easy Access Provider in our 2018 Awards, RCI Bank has been a fixture in our best buy table throughout the year and is currently paying 1.30% gross/AER.
Up with RCI Bank is Post Office Money, paying the same rate, but crucially this includes a 1.05% bonus for the first 12 months, so will need reviewing after a year.
For more information on the current top-paying accounts, please take a look at our Easy Access Best Buy Table.
Fixed Rate Bonds
Always popular with savers and providers alike, there are a number of options available for those looking for a fixed return for a set term.
If you’re looking for a shorter term, Investec leads the way for a one year term (1.85% gross/AER), although the minimum opening balance requirement of £25,000 may put off some.
For more details and the full range of options, take a look at our Fixed Rate Bond Best Buy Tables or contact us for more information.
If you’re looking for a cash ISA, perhaps if you are yet to use this tax year’s allowance or are looking to transfer an existing ISA, there are a number of options to choose from.
Amongst variable rate cash ISAs, award winning Hinckley & Rugby Building Society leads the way with a 120 day notice ISA paying 1.20% tax free/AER. If you are looking for easy access, Shawbrook Bank is the leading contender, paying 1.10% tax free/AER.
For those looking for a fixed rate, Charter Savings Bank took the lead in our three year fixed rate cash ISA table last week, paying 1.86% tax free/AER.
Virgin Money is still top for one year ISAs (1.41% tax free/AER), Aldermore and The West Brom (both 1.65% tax free/AER) lead the way amongst two year ISAs and United Trust Bank (2.20% tax free/AER) leads for five years.
For more information on any of the accounts above or for other options, call our Bath-based Savings Experts on 0800 011 9705. We’d love to hear from you.