Savings round up - 23rd May
23/05/2022
Another good week for savers with new several new best buys as interest rates continue to improve. Here's our round up of the key changes
It was a pretty static week for easy access savings with no changes at the top. Chase continue to lead the way at 1.50%, which also comes with a bonus of £20 to any new customers signing up and depositing £20 within 30 days of opening. Even if you don't want to use the current account which comes with this savings account (you don't have to - although it does come with 1% cashback on purchases and a 5% savings interest rate on round ups, so is worth considering), the 1.50% linked easy savings account is worth it in its own right. Get the £20 bonus by signing up here
Al Rayan are the next best back at 1.31%, just ahead of Gatehouse Bank (1.30%). Behind them are Aldermore, whose Double Access Account pays 1.25%, and Atom. They were joined, during the week, by Paragon and Tandem, who both increased their rates to 1.25% too.
There was no movement at the top of notice with PCF Bank continuing to top the notice charts with their 180 Day notice acccount paying 1.63% and 100 Day at 1.53%, however the gap has closed with OakNorth improving their rates to 1.60% (120 Day) and 1.55% (95 Day) with Oxbury Bank third with their 120 Day Notice at 1.58%. UBL are tucked in behind as they improved their 90 Day Notice rate to 1.57%
It was all change on 1 Year Fixed with last week's leader, Al Rayan Bank, now down in 5th spot. Gatehouse Bank sit on top spot paying 2.30%, with the same rate available via Raisin which also comes with a £25 sign up bonus for Savings Guru customers. Habib Zurich is next best paying an increased rate of 2.28% with Vanquis Bank returning to the best buys for the first time in 2022 with an improved rate of 2.27%.
Al Rayan lead the way but having had to increase their rate to 2.42% to hold top spot. They hold off Gatehouse Bank and Paragon Bank who both pay 2.40% via Raisin with United Trust Bank next at 2.35%.
As predicted in last week's round up, Ikano Bank was knocked off top spot by Al Rayan Bank who increased their rate to 2.70% during the week. They were both briefly usurped by Market Harborough Building Society (2.75%) at the end of last week but that rate was pulled first thing this morning. Gatehouse Bank sit alongside Ikano as they improved their rate to 2.65% during the week.
Ikano and Al Rayan also lead the way on 3 Year with Al Rayan having to improve its rate to 2.80% to retake top spot from Ikano at 2.75%. Gatehouse Bank's 2.70% rate is enough to hold off United Trust Bank, who increased their rate to 2.68% during the week.
It's Gatehouse Bank and Ikano leading the way on 4 Year Fixed with both paying 2.75%. United Trust Bank and Vanquis sit joint 3rd at 2.70%
There is a new leader in the 5 Year Fixed market with Tandem (2.85%) toppling Hodge (2.83%) during the week. United Trust Bank lead a clutch of seven providers just behind at 2.80%, including Ikano, Secure Trust and Shawbrook.
ISAs
The big move in the ISA easy access market saw Marcus and Saga increase their rate to 1.15% to share top spot, ahead of Nationwide's triple access saver and Al Rayan Bank at 1%.
Last week's 1 Year Best Buy, Aldermore Bank's 1.65%, now sits joint 3rd with Charter Savings with Gatehouse Bank (1.86%) and Virgin Money (1.70%) both ahead of it. Gatehouse also top 2 Year (2.15%), ahead of Castle Trust Bank (2.11%), Virgin and Charter Savings (both 2.10%). It's the same three providers leading 3 Year Fixed with Gatehouse (2.26%) top ahead of Castle Trust (2.21%) and Virgin (2.20%). Gatehouse complete a clean sweep on 5 Year with their 2.30% knocking United Trust (2.20%) off top spot.