RECOGNISING THE BEST PERFORMERS IN THE SAVINGS MARKET
Now in their 10th year, the Savings Champion Awards have grown over that time to become one of the most sought-after awards in the savings industry.
As we announce the winners of our latest awards we can reflect on what a positive year it’s been for savers. There have been eight base rate hikes over the last 12 months which has led to multiple savings account rate rises and the best rates on the market are back to levels last seen over a decade ago – so even before our first awards were announced!
This time last year the best easy access account available was paying 0.75%, whereas today you can earn over 2.80%. Even the top five-year bond could only offer just 2.06% - today you can earn nearly 5% for five years. So, rates have risen almost fourfold in some cases.
And that’s a key point – in some cases! Not all savings providers are getting into the spirit of this good news for savers – some are being a bit more Scrooge – begrudgingly passing on as little as possible.
Which is why our awards are so useful. We celebrate those providers that are driving competition and consistently offering best buy rates to cash savers.
Savings Champion is one of the few places savers can go for truly independent, whole-of-market savings advice. So, our wealth of knowledge, experience and unrivalled research and data – combined with our impartiality – is what makes our awards different and our opinion trusted.
For providers, winning an award is a powerful accolade, while for savers our awards are a clear way to identify the best accounts and providers in the savings market.
Our awards show recognition in a range of savings categories from easy access, fixed rate bonds and cash ISAs to the best ethical savings accounts to choose from. They are the only awards that focus solely on savings, giving this key area of the market the focus that savers deserve.
The big winners this year include Shawbrook Bank, who have won a total of six awards – topping their performance last year and including the big one – the prestigious Best Savings Provider (which they have won for the second year running!)
We have joint winners of the Best Building Society award – with Coventry Building Society and Saffron Building Society sharing the crown.
Zopa, who last year won the ‘Best New Savings Provider’ has continued its success by winning the ‘Award for Simple Savings’ – offering the same competitive rates for new AND existing customers.
And, in a year of rate rises for savers, Aldermore and OakNorth Bank have been impressive over the last 12 months,– by passing on much of the base rate hikes to closed as well as live accounts, making sure they are looking after their loyal savers as well as new customers.
Our judging process is independent, comprehensive and detailed and involves weekly reviews of the savings market for each category throughout the year.
The judging of all of our awards is undertaken with the same level of rigour that we apply to all aspects of our business, which means that these awards are given solely on merit.
Congratulations to all of our award winners!
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Best Savings Provider
Winner: Shawbrook Bank
Highly Commended: Secure Trust Bank
Finalists: Paragon, UBL UK, Zopa
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Best Building Society
Winner(s): Coventry Building Society, Saffron Building Society
Highly Commended: Dudley Building Society
Finalists: The Family Building Society, Nottingham Building Society
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Best Online Savings Provider
Winner: Shawbrook Bank
Highly Commended: Raisin UK
Finalists: Secure Trust Bank, Zopa, Paragon
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Best Multi-Channel Savings Provider
Winner: Paragon
Highly Commended: UBL UK
Finalists: Al Rayan Bank, Saffron Building Society, Coventry Building Society
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Best Ethical Provider
Winner: Charity Bank
Highly Commended: Yorkshire Building Society, Ecology Building Society
Finalists: Coventry Building Society, Triodos Bank
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Best Savings Provider for Existing Customers
Winner: Aldermore, OakNorth Bank
Highly Commended: Monmouthshire Building Society
Finalists: DF Capital, Secure Trust Bank
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Best New Savings Provider
Winner: Castle Trust Bank
Highly Commended: Oxbury Bank
Finalists: Recognise Bank
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Award for Simple Savings
Winner: Zopa
Highly Commended: Investec
Finalists: Atom Bank, Gatehouse Bank, Tandem
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Best Monthly Income Provider
Winner: Shawbrook Bank
Highly Commended: Paragon
Finalists: UBL UK, Charter Savings Bank, Virgin Money
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Best Easy Access Account Provider
Winner: Cynergy Bank
Highly Commended: Shawbrook Bank
Finalists: Al Rayan, Chase Bank, Virgin Money
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Best Regular Savings Account Provider
Winner: Saffron Building Society
Highly Commended: Coventry Building Society
Finalists: First Direct, Principality Building Society, Nationwide Building Society
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Best Notice Account Provider
Winner: Oxbury Bank
Highly Commended: OakNorth Bank
Finalists: Shawbrook Bank, Secure Trust Bank, DF Capital
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Best Fixed Rate Bond Provider
Winner: Raisin UK
Highly Commended: Smart Save
Finalists: Zopa, Tandem, Charter Savings Bank
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Best Short Term Fixed Rate Bond Provider
Winner: Zopa
Highly Commended: Smart Save
Finalists: Raisin, Charter Savings Bank, Tandem
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Best Long Term Fixed Rate Bond Provider
Winner: Raisin UK
Highly Commended: Secure Trust Bank
Finalists: Hodge Bank, United Trust Bank, Smart Save
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Best Cash ISA Provider
Winner: Shawbrook Bank
Highly Commended: Paragon
Finalists: Aldermore, Leeds Building Society, Virgin Money
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Best Variable Rate Cash ISA Provider
Winner: Shawbrook Bank
Highly Commended: Cynergy Bank
Finalists: Marcus, Aldermore, Paragon
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Best Fixed Rate Cash ISA Provider
Winner: UBL UK
Highly Commended: Secure Trust Bank
Finalists: Shawbrook Bank, Close Brothers Savings, Paragon
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Best Short Term Fixed Rate Cash ISA Provider
Winner: Shawbrook Bank
Highly Commended: Virgin Money
Finalists: UBL UK, Paragon, Aldermore, Castle Trust Bank
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Best Long Term Fixed Rate Cash ISA Provider
Winner: UBL UK
Highly Commended: Secure Trust Bank
Finalists: Close Brothers Savings, Shawbrook Bank, United Trust Bank
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Best Children's Account Provider
Winner: Saffron Building Society
Highly Commended: Dudley Building Society
Finalists: Principality Building Society, HSBC, Santander
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Best Junior Cash ISA Provider
Winner: Coventry Building Society
Highly Commended: The Family Building Society
Finalists: Monmouthshire Building Society, Tesco Bank, Loughborough Building Society
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Best App-Based Savings Provider
Winner: Tandem Bank
Highly Commended: OakNorth Bank
Finalists: Al Rayan Bank, UBL UK, Zopa
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Best Cash Lifetime ISA Provider
Winner: MoneyBox
Highly Commended: Nottingham Building Society
Finalists: Skipton Building Society, Newcastle Building Society, Paragon
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Best Business Easy Access Account Provider
Winner: Aldermore
Highly Commended: Hanley Economic Building Society
Finalists: Recognise Bank, Loughborough Building Society, Virgin Money
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Best Business Notice Account Provider
Winner: United Trust Bank
Highly Commended: Redwood Bank
Finalists: Hampshire Trust Bank, Cambridge & Counties, Allica Bank
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Best Business Fixed Rate Bond Provider
Winner: Cambridge & Counties Bank
Highly Commended: UBL UK
Finalists: Hampshire Trust Bank, Close Brothers, United Trust Bank
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