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The week in savings - w/e 14th November


8th November

SmartSave Bank made the first moves of the week by increasing their 2 Year Fixed rate to 1.60%, to move up to joint 2nd, and relaunching their 1 Year Fixed at 1.34%, which is 3rd in the market.

Monument Bank, which had been authorised with restrictions since October 2020, exited mobilisation and became a fully authorised bank.  Although they haven’t launched any savings products yet, expect an easy access account, 6 months, 1, 2 and 5 Year Fixed Rates to come in the next few weeks.  Monument is targeting a mass affluent customer base and has a high £25,000 minimum deposit as a result.


9th November

OakNorth cut their notice pricing by between 0.20 – 0.25%.  Their new rates are 0.86% (120 Day), 0.76% (90 Day) and 0.35% (35 Day), which drop them down to 10th in our tables.


10th November

United Trust Bank improved their fixed rate bond and fixed ISA pricing, including two new best buys:

  • 1 Year – 1.25% (joint 9th)
  • 2 Year – 1.58% (6th)
  • 3 Year – 1.82% (new best buy)
  • 4 Year – 1.92% (new best buy)
  • 5 Year – 2.01% (2nd)
  • 3 Year ISA – 1.25% (joint 3rd)
  • 5 Year ISA – 1.60% (2nd)

Hodge increased their 2 and 3 Year Fixed ISA rates:

  • 2 Year – 1.16% (joint 2nd)
  • 3 Year – 1.25% (joint 4th)

United Bank (UBL) raised their long term fixed rates:

  • 3 Year – 1.82% (joint best buy)
  • 4 Year – 1.82% (3rd)
  • 5 Year – 2.05% (joint best buy)

Skipton boost their 5 Year Fixed ISA to 1.45% to move joint 6th in the market


11th November

Furness Building Society increase their 5 Year Fixed ISA to 1.40% to move up to joint 7th in the best buy tables

Secure Trust Bank boost rates on five products, including three new best buys:

  • 1 Year Fixed Rate Bond – 1.30% (joint 4th)
  • 5 Year Fixed Rate Bond – 2.00% (joint 5th)
  • 3 Year Fixed ISA – 1.35% (new best buy)
  • 5 Year Fixed ISA – 1.65% (new best buy)
  • 120 Day Notice – 1.10% (new best buy)

Charter Savings Bank improve three rates:

  • 1 Year Fixed ISA – 0.91% (joint 3rd)
  • 2 Year Fixed ISA – 1.12% (6th)
  • 2 Year Fixed Rate Bond – 1.55% (joint 7th)


12th November

Paragon Bank re-issue their Triple Access Account, paying 0.65%, which is 2nd in the easy access market, behind Shawbrook Bank at 0.67%

Leeds Building Society reduce the rate on their limited edition easy access account and easy access ISA – both dropping 0.05% to 0.55%, placing them joint 8th and joint 6th respectively.

Kent Reliance withdrew their 2 Year Fixed Rate Bond paying 1.50% and replace it with a new version paying 1.30%.  They also launch a new 1 Year Fixed Rate at 1.10%.  Both products are outside our best buy tables.

Al Rayan Bank cut their fixed rates across the board, by at least 0.20%, including best buys on 1, 2 and 18 Months Fixed.  Their new rates are:

  • 1 Year Fixed – 1.25% (joint 10th)
  • 18 Month Fixed – 1.35% (joint 6th)
  • 2 Year Fixed – 1.55% (joint 7th)
  • 3 Year Fixed – 1.61% (outside top 10)

JN Bank cut their 3, 4 and 5 Year Fixed rates, which had all been in the top 3, but also launch a new 1 Year Fixed.  Their new rates are:

  • 1 Year Fixed – 1.27% (joint 7th)
  • 3 Year Fixed – 1.65% (outside top 10)
  • 4 Year Fixed – 1.70% (joint 6th)
  • 5 Year Fixed – 1.75% (joint 10th)

Zopa boost their 2 Year Fixed Rate to 1.61% - a new best buy

SmartSave withdraw their 1 and 2 Year Fixed Rates from sale, which had been third and joint 2nd respectively.



Although the cuts on their fixed rate bonds from Al-Rayan were bad news for savers, they were always inevitable as they’d become an outlier at the top of the 1, 18 Months and 2 Year Fixed.

Otherwise, it was a good week for savers with seven new best buys on 2, 3, 4 and 5 Year Fixed, 120 Day Notice and 3 and 5 Year Fixed ISAs with United Trust, United Bank Limited (UBL) and Secure Trust Bank providing some welcome rate increases.

Paragon reissuing their Triple Access Saver at 0.65% brings hope that others will follow it and Shawbrook (0.67%) north of the 0.60% mark where many easy access providers sit.

I expect this week to bring more good news – I think we will see more improvements in ISA pricing, in response to the moves this week, and possibly on the shorter 1 and 2 Year Fixed ISAs too.  The market is pretty stable currently so it’s likely to be gentle movements upwards, rather than big swings.

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