Savings
SmartSave – 2 Year Fixed Rate Saver
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“SmartSave has put up the rate on its 2 Year Fixed Rate Saver this week, increasing from 1.91% to now pay 2.06% on anniversary. Savers with a minimum of £10,000 to invest may well be enticed by the rate of return, which sees it secure a place towards the top of our tables. As is often the case with fixed rate bonds, earlier access is not permitted, however, the ability to make further additions for 14 days from account opening may be viewed as a plus by some investors. Overall, this account secures an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 2.06% gross / 2.06% AER payable on anniversary
- Notice / term: 2 years
- Minimum opening amount: £10,000
- Maximum investment amount: £85,000
- Access: Not permitted
- Further additions: Permitted for 14 days from account opening
- Opening account: Online
- Managing account: Online
- Other information: Minimum applicant age 18.
Al Rayan Bank – 12 Month Fixed Term Deposit
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“This week sees Al Rayan Bank increase the rate on its 12 Month Fixed Term Deposit by 0.15%. Now paying an expected profit rate of 1.85% quarterly, this deal secures a prominent place in our top rate tables when compared to similar accounts currently on offer. Those savers who are comfortable locking their funds away for the 12-month term and who have at least £5,000 to invest may find this an attractive choice. Also, savers can opt to take the quarterly profit as an income at a reduced rate, which could be a further plus for some. The account secures an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 1.85% gross / 1.86% AER payable quarterly
- Notice / term: 12 months
- Minimum opening amount: £5,000
- Maximum investment amount: £999,999
- Access: Not permitted
- Further additions: Not permitted
- Opening account: Online, by phone and via its mobile app
- Managing account: Online, by phone and via its mobile app
- Other information: Minimum applicant age 16. Joint account option available. Sharia’a compliant account – rates shown are expected profit rate. Quarterly profit can be taken as an income with a reduced rate.
Chase – The Chase Saver Account
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“Chase launched onto the UK savings market this week with a market-leading new variable rate easy access account. Paying a rate of 1.49%, The Chase Saver Account secures the lead position when compared not only to other no notice accounts currently available, but also when compared against those that pay interest monthly, securing it the top spot in two of our top rate tables. Savers should note that in order to open this straightforward easy access product, a Chase current account must be held or opened. Overall, the account earns an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 1.49% gross / 1.50% AER payable monthly
- Notice / term: None
- Minimum opening amount: £0
- Maximum investment amount: £250,000
- Access: Permitted
- Further additions: Permitted
- Opening account: Via its mobile app
- Managing account: Via its mobile app
- Other information: Minimum applicant age 18. Must have or open a Chase current account.
Gatehouse Bank – 18 Month Fixed Term Woodland Cash ISA
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“Gatehouse Bank has made increases to the rates paid on its range of Fixed Term Woodland Cash ISAs. One account which sees a notable 0.40% rise is the 18 Month option, which now pays an expected profit rate of 1.40% on maturity and secures a prominent position in our top rate table when compared to alternative ISAs with similar terms. Savers happy to take a fixed term ISA may well be tempted by the return, as well as the fact that earlier access to funds may be permitted, subject to a loss of profit penalty. Those who are looking for ways to save that support sustainable principles may be further enticed by the fact that Gatehouse Bank will plant a tree in UK woodland when an account is opened and funded. Following the update, this ISA secures an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 1.40% gross / 1.40% AER payable on maturity
- Notice / term: 18 months
- Minimum opening amount: £1,000
- Maximum investment amount: ISA allowance
- Access: Permitted, subject to 135-day loss of profit penalty
- Further additions: Not permitted
- Transfers in: Permitted. Accepts Cash and Stocks and Shares ISAs
- Transfers out: Permitted, subject to 135-day loss of profit penalty
- Opening account: Online
- Managing account: Online
- Other information: Minimum applicant age 18. Sharia’a compliant account – rates shown are expected profit rate. Gatehouse Bank will plant a tree in UK woodland when an account is opened and funded.
United Trust Bank – Personal 40 Day Notice Issue 2
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“In the latest update from United Trust Bank, the rate on the Personal 40 Day Notice account has increased to pay 1.05%. This account could be a tempting choice for those happy to provide some advance notice in order to access their savings pot and, following the rise in rate, it secures a place in the top 10 when compared against similar products also requiring notice for withdrawals. Earlier access is not permitted, as is common with these types of account, but savers can make further additions to build their nest egg up. Overall, this earns an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 1.05% gross / 1.05% AER payable yearly
- Notice / term: 40 days
- Minimum opening amount: £5,000
- Maximum investment amount: £1 million
- Access: Permitted via a nominated account, subject to 40 days’ notice being provided
- Further additions: Permitted, via nominated account
- Opening account: Online
- Managing account: Online
- Other information: Minimum applicant age 18. Joint account option available.
Savings
SmartSave – 2 Year Fixed Rate Saver
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“SmartSave has put up the rate on its 2 Year Fixed Rate Saver this week, increasing from 1.91% to now pay 2.06% on anniversary. Savers with a minimum of £10,000 to invest may well be enticed by the rate of return, which sees it secure a place towards the top of our tables. As is often the case with fixed rate bonds, earlier access is not permitted, however, the ability to make further additions for 14 days from account opening may be viewed as a plus by some investors. Overall, this account secures an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 2.06% gross / 2.06% AER payable on anniversary
- Notice / term: 2 years
- Minimum opening amount: £10,000
- Maximum investment amount: £85,000
- Access: Not permitted
- Further additions: Permitted for 14 days from account opening
- Opening account: Online
- Managing account: Online
- Other information: Minimum applicant age 18.
Al Rayan Bank – 12 Month Fixed Term Deposit
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“This week sees Al Rayan Bank increase the rate on its 12 Month Fixed Term Deposit by 0.15%. Now paying an expected profit rate of 1.85% quarterly, this deal secures a prominent place in our top rate tables when compared to similar accounts currently on offer. Those savers who are comfortable locking their funds away for the 12-month term and who have at least £5,000 to invest may find this an attractive choice. Also, savers can opt to take the quarterly profit as an income at a reduced rate, which could be a further plus for some. The account secures an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 1.85% gross / 1.86% AER payable quarterly
- Notice / term: 12 months
- Minimum opening amount: £5,000
- Maximum investment amount: £999,999
- Access: Not permitted
- Further additions: Not permitted
- Opening account: Online, by phone and via its mobile app
- Managing account: Online, by phone and via its mobile app
- Other information: Minimum applicant age 16. Joint account option available. Sharia’a compliant account – rates shown are expected profit rate. Quarterly profit can be taken as an income with a reduced rate.
Chase – The Chase Saver Account
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“Chase launched onto the UK savings market this week with a market-leading new variable rate easy access account. Paying a rate of 1.49%, The Chase Saver Account secures the lead position when compared not only to other no notice accounts currently available, but also when compared against those that pay interest monthly, securing it the top spot in two of our top rate tables. Savers should note that in order to open this straightforward easy access product, a Chase current account must be held or opened. Overall, the account earns an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 1.49% gross / 1.50% AER payable monthly
- Notice / term: None
- Minimum opening amount: £0
- Maximum investment amount: £250,000
- Access: Permitted
- Further additions: Permitted
- Opening account: Via its mobile app
- Managing account: Via its mobile app
- Other information: Minimum applicant age 18. Must have or open a Chase current account.
Gatehouse Bank – 18 Month Fixed Term Woodland Cash ISA
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“Gatehouse Bank has made increases to the rates paid on its range of Fixed Term Woodland Cash ISAs. One account which sees a notable 0.40% rise is the 18 Month option, which now pays an expected profit rate of 1.40% on maturity and secures a prominent position in our top rate table when compared to alternative ISAs with similar terms. Savers happy to take a fixed term ISA may well be tempted by the return, as well as the fact that earlier access to funds may be permitted, subject to a loss of profit penalty. Those who are looking for ways to save that support sustainable principles may be further enticed by the fact that Gatehouse Bank will plant a tree in UK woodland when an account is opened and funded. Following the update, this ISA secures an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 1.40% gross / 1.40% AER payable on maturity
- Notice / term: 18 months
- Minimum opening amount: £1,000
- Maximum investment amount: ISA allowance
- Access: Permitted, subject to 135-day loss of profit penalty
- Further additions: Not permitted
- Transfers in: Permitted. Accepts Cash and Stocks and Shares ISAs
- Transfers out: Permitted, subject to 135-day loss of profit penalty
- Opening account: Online
- Managing account: Online
- Other information: Minimum applicant age 18. Sharia’a compliant account – rates shown are expected profit rate. Gatehouse Bank will plant a tree in UK woodland when an account is opened and funded.
United Trust Bank – Personal 40 Day Notice Issue 2
Commenting on the deal, Eleanor Williams, Finance Expert at Moneyfacts.co.uk, said:
“In the latest update from United Trust Bank, the rate on the Personal 40 Day Notice account has increased to pay 1.05%. This account could be a tempting choice for those happy to provide some advance notice in order to access their savings pot and, following the rise in rate, it secures a place in the top 10 when compared against similar products also requiring notice for withdrawals. Earlier access is not permitted, as is common with these types of account, but savers can make further additions to build their nest egg up. Overall, this earns an Excellent Moneyfacts product rating.”
Key product details:
- Rate: 1.05% gross / 1.05% AER payable yearly
- Notice / term: 40 days
- Minimum opening amount: £5,000
- Maximum investment amount: £1 million
- Access: Permitted via a nominated account, subject to 40 days’ notice being provided
- Further additions: Permitted, via nominated account
- Opening account: Online
- Managing account: Online
- Other information: Minimum applicant age 18. Joint account option available.
