This week we have seen a torrent of new best buy accounts streaming in from multiple savings providers.
Early in the week we saw a new market leader in our variable rate ISA table, with improvements then flowing through to the fixed rate market and easy access market as the week progressed.
As ever, we round up the top new accounts launched this week and cover the interesting aspects of each.
If you are yet to address your savings and are looking to be more proactive this year by keeping an eye on the best rates, sign up for our Rate Alert emails to get information on new and interesting accounts as they hit the market. Alternatively, follow us on Twitter and Facebook for all the latest news.
Variable Rate ISAs
OakNorth Bank has entered the table with its Easy Access Cash ISA, paying 1.25% tax free/AER, surpassing its closest competitor by 0.09%.
Interestingly, unlike others currently in the top five, this rate does not include an introductory bonus. Additionally, OakNorth Bank gives the option to split this year’s ISA allowance across its fixed and variable rate cash ISAs, commonly known as a portfolio ISA, again setting it apart from many of the other top rates.
For those looking to deposit previously accrued cash ISA funds, OakNorth Bank also allows transfers in, so could provide a suitable home for these funds.
This account has many alluring aspects for savers, provided you are happy to apply for and manage the account online.
If this does not suit your requirements, other leading rates currently available can be found in our variable rate cash ISA best buy table.
Fixed Rate ISAs
Leeds Building Society chased down the top spot this week in both our one and two year tables.
The latest versions of these accounts now pay the joint market-leading rates, 1.45% tax free/AER and 1.65% tax free/AER respectively.
Unlike the other leading rates for these terms, Leeds Building Society offers multiple channels to both open and access the accounts.
Amongst the longer terms, we continue to see Charter Savings Bank hold the lead in our three year table and United Trust Bank the five year, paying 1.86% tax free/AER and 2.20% tax free/AER respectively.
For more information on these accounts and alternatives available, please refer to our fixed rate cash ISA best buy tables.
Fixed Rate Bonds
This week in the fixed rate bond arena, Atom Bank launched a new range of its Fixed Savers with improved rates across the board.
Consequently, its one and two year offerings hold the outright lead in the corresponding tables, paying 1.90% gross/AER and 2.10% gross/AER.
Meanwhile, its longer three year product holds the joint market-leading rate with NS&I, United Trust Bank and The Access Bank UK (2.20% gross/AER).
It is important to be aware that Atom Bank is unique, as to both open and manage the account, you are required to download the providers mobile app – a feature that may not suit all savers – so for other options, please use the link below to our best buy tables.
Finally, following a spell outside of the fixed rate bond market, Secure Trust Bank has made an emphatic return to our tables, with the launch of its new five year bond.
The new offering has secured the provider the top spot in our table, paying 2.43% gross/AER and unsurprisingly, is available to open online only.
For more details and the full range of options across each term, take a look at our fixed rate bond best buy tables
Easy Access Accounts
Although we continue to see the AA command the top spot in this category, we have seen another contender creeping higher up our table.
This week Tesco Bank launched a new version of its Internet Saver, resulting in a trio of providers each paying 1.30% gross/AER.
Like many of the top rates currently available this account includes an introductory bonus for the first 12 months, after which point the it will drop significantly.
RCI Bank’s Freedom Savings Accounts continues to hold the title of the highest paying easy access account not to include a bonus.
For more information on the other top-paying easy access accounts, 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.