Rates Rundown: Fixed rate market sees multiple new leaders…

24th February 2018

This week we have seen a varied assemblage of fixed rate products enter the savings market, including multiple market-leading rates.

Given the number of changes, it is no surprise that we have seen top spots change hands on numerous occasions over the last seven days.

Many of these improvements were seen in the fixed rate cash ISA tables but, as always, changes were also observed amongst fixed rate bonds.

Away from the fixed rate market, we have seen a new variable rate cash ISA enter the fray and stake claim to the top spot in our best buy table.

The recent trend in the easy access market has continued, with no significant changes to catch the eye of keen savers. However, while others seem to come and go, we still see the consistent RCI Bank lead the way in our best buy table.

Don’t forget to sign up to our Rate Alert emails, to hear about the latest best buy accounts as they hit the market.


Fixed Rate Bonds

The week kicked off with PCF Bank launching an improved version of its five year fixed rate bond for the second time in a week.

The latest version pays 2.47% gross/AER and sees the provider stake claim to joint-third position in our table alongside Ikano Bank.

Later in the week, PCF Bank launched new versions of its one and two year bonds, paying 1.88% gross/AER and 2.09% gross/AER respectively. Both of these accounts also hold second position in our tables.

OakNorth Bank also launched improved rates across a range of its fixed rate bonds, with the two year bond claiming joint-second position, paying 2.09% gross/AER - a mere 0.01% behind the market-leading Atom Bank.

The final act of the week was Close Brothers improving the rate on its five year bond, now paying 2.50% gross/AER and claiming second position in our table.

If you would like any further details or to view other options currently available, please refer to our fixed rate bond best buy tables.


Fixed Rate Cash ISAs

With the end of the current tax year fast approaching, many savers will be looking to make the most of their ISA allowance, before it is lost in the abyss forever.

So, OakNorth Bank’s new market-leading fixed rate cash ISA could be a suitable option for some.

The new version of the account pays 1.46% tax free/AER, which was then matched by Charter Savings Bank later in the week.

Not only did Charter launch this new one year fixed rate ISA, but also a joint-market leading two year account, paying 1.67% tax free/AER.

Meanwhile, we also saw Charter Savings Bank take second position in our three year table, paying 1.80% tax free/AER.

Finally from Charter Savings Bank, its new five year account, paying 2.25% tax free/AER, took the leading spot in our table.

Lastly, Paragon Bank launched a new two year fixed rate cash ISA, paying 1.67% tax free/AER -  joining Charter Savings Bank in the leading position for the term.

To view other top rates currently available, please follow the link to our fixed rate cash ISA best buy tables.


Variable Rate Cash ISA

Branching out further into the cash ISA market, Charter Savings launched a new version of its 95 day notice cash ISA, with the market-leading rate on offer.

The account pays 1.31% tax free/AER and is available to open online, with a minimum of £1,000 and also accepts transfers in, so could provide a home for previously accrued ISA funds.

A further string to its bow, is Charter’s Mix and Match ISA platform, essentially meaning that you can open a mixture of fixed rate and variable rate cash ISAs with the provider in the same tax year.

For further information and to view other leading variable rate cash ISAs, please refer to our variable rate cash ISA best buy table.


Easy Access Accounts

Over recent weeks we haven’t seen many new best buy easy access accounts hitting the market.

However, we do continue to see the consistent RCI Bank sit above the rest, paying 1.30% gross/AER on its Freedom Savings Account.

For more information on this account and other options, please take a look at our easy access best buy table.


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.



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