Savings round up - 27th November
26/11/2023
Easy access rates continued to hold up with little change to the best buys and still ten providers paying over 5%. Fixed rates continue to fall back with only two providers paying above 5.80% and more cuts likely again this week. On five years, only two providers remain above 5% and, with swap rates falling, there looks to be more reductions to come there too. There was some better news in short term fixed rates where Hampshire Trust Bank launched two best buys on Friday which look excellent value in the current market. Here's our round up of the best buys and key changes from the savings market from the past week:
Easy access best buys have remained consistent during the past week. Ulster Bank still lead the way paying 5.20%. Metro Bank is offering 5.22% but a huge proportion of this (3.46%) is a 12 month bonus and, for this reason, we exclude it from our tables. Hampshire Trust Bank pay a straight forward 5.15% with no restrictions as do Close Brothers, but they do want a hefty £10,000 minimum balance. Virgin Money and Cahoot both pay 5.12% - the Virgin account drops to 2% if more than three withdrawals per year are made whereas the Cahoot one has no restrictions. Secure Trust are a whisker further back at 5.10% followed by Charter Savings Bank paying 5.07% and Kent Reliance pay 5.06%.
Oxbury Bank are best buy paying 5.59% on 180 Day and 5.53% on 120 Day. United Trust Bank offer 5.58% on 200 Day Notice and 5.40% on 100 Day. Shawbrook pay 5.56% for 120 Day Notice and 5.23% for 45 Day. Cynergy offer 5.55% on 120 Day and 5.50% on 95 Day. Hampshire Trust Bank's 95 Day Notice Account pays 5.51%.
Hampshire Trust Bank are the new best buy paying 5.61% for 9 Months Fixed. Monument Bank pay 5.57% for 9 Months Fixed and ICICI Bank pay 5.53% via Raisin. United Trust Bank offer 5.48% for 9 Months Fixed.
Hampshire Trust Bank also pay a best buy on 6 Months Fixed paying 5.56%. Monument Bank pay 5.48% for the same term narrowly ahead of National Bank of Egypt paying 5.47% on Raisin for the same term, which is also matched by United Trust Bank paying 5.47% too.
Union Bank of India pay a best buy of 5.90%. Al Rayan Bank are next paying 5.85% with Metro Bank third at 5.80% following their rate cut. There's a drop then to SmartSave at 5.71%, following their rate cut, and Gatehouse Bank at 5.70%, who also reduced their rate. Secure Trust are next at 5.66% with a trio of providers at 5.65% including isbank via Raisin, JN Bank and BLME.
Metro Bank and Union Bank of India are tied at 5.80% with Al Rayan Bank at 5.70%. JN Bank's 15 Month Bond pays 5.65% with BLME and Gatehouse Bank at 5.60%. United Trust Bank's 15 Month Fixed pays 5.55%.
Union Bank of India lead the way on 2 Year paying 5.80% before a big drop to Al Rayan who pay 5.65% in second. Ford Money and BLME are tied for third at 5.55% with Hodge completing the top five at 5.51%. Zenith Bank pay 5.50% via Raisin and direct as do Gatehouse Bank. Zopa Bank and JN Bank are locked at 5.46%.
Three year rates continue to tumble - Al Rayan Bank lead the way at 5.60% but only JN Bank and Zenith Bank are left at 5.50%, compared to five providers last week. BLME pay 5.45% and Hodge are offering 5.39% with Gatehouse Bank at 5.35%. United Trust Bank pay 5.30% and Zopa Bank complete the top eight at 5.26%.
JN Bank pay a best buy 5.50% and BLME offer 5.40% before a big drop to Zopa at 5.01%, ahead of a trio of providers at 5% - Gatehouse, United Trust Bank and Union Bank of India. Cynergy offer 4.85% with Aldermore Bank at 4.65%.
JN Bank remain top at 5.50% with BLME at 5.30% following their rate cut. They are the only two providers above 5% with Gatehouse, United Trust and Union Bank of India all tied for third at 5%. UBL Bank pay 4.81% via Raisin and direct, as do Zopa and Secure Trust Bank.