Savings round up - 5th June
Rates continue to head north as financial markets price in higher interest rates for longer than previously expected. There's a new best buy in every category we cover in this round up. Even easy access saw an increase and we think there's more to come on that this week too, as the next Bank of England base rate decision on 22nd June gets closer. Here's our round up of the best buys and key changes from the savings market from the past week:
There's new joint leaders of easy access with Secure Trust and West Brom Building Society both paying 3.85%. The latter only permits two withdrawals per year though. Chip are next paying 3.82%, but how long for? They've responded to three moves above them so it may only be a matter of time before they respond again. Investec have also moved up to 3.82% to move above Principality Building Society, whose Double Access Saver rate is 3.80%. Ford Money pay 3.75%, having increased their rate during the week. They remain popular for paying the same rate to both existing savers and new savers. Shawbrook are still at 3.75% with Monument Bank next at 3.73%, following their uplift during the week. New entrant GB Bank pays 3.70% on Raisin, and Chorley Building Society, also pay 3.70% but this account is restricted to just two withdrawals per calendar year, otherwise savers see their rate drop to 1.60%.
Hampshire Trust Bank's 4.40% for 120 Day Notice is the new best buy for notice. They move ahead of Family Building Society, who pay 4.33% on the same term, and Cynergy Bank who pay 4.31%, also for 120 Days. Hampshire Trust Bank's 4.30% for 90 Day Notice is also the best buy for that period. Next is United Trust Bank who pay 4.30% for 200 Day (3.75% for 100 Day). Investec are just behind with their 90 Day Notice paying 4.25%. Oxbury pay 4.15% on their 180 Day Notice and 4.11% on their 120 Day with BLME next, improving their 90 Day rate to 4.11% during the week.
There's barely anything in it at the top with Atom and Secure Trust both paying 4.85%, OakNorth 4.84% and Hampshire Trust Bank 4.83% for 9 Months. Al Rayan Bank pay 4.81% via Raisin to complete the top five.
The best 6 months is from Al Rayan Bank pay 4.66% via Raisin, which is just ahead of Monument Bank, who pay 4.65%. BLME and ICICI Banks both pay 4.65% via Hargreaves Lansdown as do QIB via Raisin.
National Bank of Egypt lead the way with a huge 5.25% via Raisin. There's a big gap back then to SmartSave who pay 5.16% in second with Tandem paying 5.15% via Raisin and direct, alongside Raisin stable mate Ahli United Bank, and DF Capital. United Trust Bank pay 5.12%, ahead of a three way tie at 5.10% with Atom, Close and Charter Savings.
Charter Savings lead the way paying 5.15% for 18 Months with United Trust Bank just behind paying 5.14% for 15 Months Fixed. OakNorth pay 5.09% for 18 Months and 5.08% for 15 Months ahead of Hampshire Trust Bank's 5.07% for 18 Months Fixed.
Tandem Bank pay a best buy 5.25% via Raisin and direct. Investec are next at 5.21% via Raisin, alongside SmartSave. There's three providers at 5.20% with QIB Bank, Charter Savings and Close there, ahead of DF Capital at 5.16% and Hampshire Trust Bank at 5.15% alongside United Trust Bank.
Tandem Bank also lead the way on 3 Year with a best buy 5.30% via Raisin and direct. United Trust Bank are next at 5.20% ahead of SmartSave at 5.19% and Investec Bank who pay 5.18% via Hargreaves Lansdown. There's a drop then to Hampshire Trust Bank who pay 5.10% alongside Atom and Close Brothers.
United Trust Bank pay a best buy 5.07% to pinch the lead from Hampshire Trust Bank at 5.05%, with Zopa Bank third at 5.04%. isbank are next at 5% ahead of RCI Bank at 4.85% with Aldermore Bank paying 4.75% completing the top seven before a big drop to BLME at 4.60%.
Tandem Bank pay a best buy 5.35% for 5 Years, both via Raisin and direct. United Trust Bank are next at 5.15% with Atom at 5.10% and Zopa Bank at 5.05%. Hampshire Trust Bank pay 5% following their increase.