1 Year Fixed

Provider Rate Min/Max Deposit Opening Account Accessing Account Interest Options SG Verdict
Al Rayan Bank
4.50% £5,000 / No Maximum

Branch
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Branch
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  • Paid on Anniversary
  • Paid Away or Compounded
  • Paid Quarterly

This account pays expected profit, rather than interest, to meet Sharia law requirements.  Those savers comfortable with this are likely to be attracted by the rate and variety of channels to open and manage their account  

Allica Bank
4.45% £10,000 / £250,000

Branch
App
Internet
Post
Telephone

Branch
App
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  • Paid Annually
  • Paid On Maturity

Allica are based in Milton Keynes and were awarded their banking licence in 2019 and launched in April 2020

You can find out more about them here

 HL Active Savings - Charter Savings
4.46% £1,000 / £1m

Branch
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Branch
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  • Paid on maturity
  • annually or compounded

Active Savings is a savings platform, provided by investment giant Hargreaves Lansdown, which offers savers access to a range of products from its partner banks and building societies.

 HL Active Savings - Kent Reliance
4.35% £1,000 / £1m

Branch
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Branch
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  • Paid on maturity
  • annually or compounded

Active Savings is a savings platform, provided by investment giant Hargreaves Lansdown, which offers savers access to a range of products from its partner banks and building societies.

 Monument Bank
4.45% £25,000 / £400,000

Branch
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Branch
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  • Paid on Anniversary
  • Paid Away or Compounded
  • Paid On Maturity

Monument Bank launched in December 2021 and offers competitive savings rates to affluent individuals via its mobile banking app

 UBL
4.50% £2,000 / £1,000,000

Branch
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Telephone

Branch
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  • Paid Monthly
  • Paid Annually
  • Paid On Maturity
  • Paid Away

Excellent rate from United Bank with interest available monthly, annually or on maturity, with interest paid away to a nominated bank account.

United Bank UK was formed in 2001 from the merger of two Pakistani banks and has branches in Ilford, Bradford, Birmingham, Glasgow Manchester and London.

 United Trust Bank
4.45% £5,000 / £1,000,000

Branch
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Branch
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  • Paid Away or Compounded
  • Paid Annually

London based specialist lender United Trust launched in 1955 and look after £1.6bn of savings

Find out more about them here

Atom Bank
4.40% £50 / £100,000

Branch
App
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Telephone

Branch
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  • Paid on Anniversary
  • Paid Away or Compounded
  • Paid Monthly
  • Paid Annually

Durham based Atom Bank has attracted over £3.2bn of savings since its launch in April 2016.

Savers can only access Atom’s products via their mobile app

You can find out more about them here

Charter Savings Bank
4.46% £5,000 / £1m

Branch
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Branch
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  • Paid on Anniversary
  • Paid Away or Compounded
  • Paid Monthly
  • Paid Annually

Wolverhampton based Charter Savings launched in 2015.

It is now part of One Savings Bank which looks after a combined £16.6bn across its Charter Savings and Kent Reliance savings brands

Close Brothers
4.40% £10,000 / £2,000,000

Branch
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Branch
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  • Paid Annually
  • Paid On Maturity
  • Paid Away

Close Bank have been trading since 1878, are a FTSE 250 listed company and look after over £6.4bn of savings

You can find out more about them here

Cynergy
4.45% £10,000 / £1m

Branch
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Telephone

Branch
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  • Paid on Anniversary
  • Paid Annually
  • Paid Away

Cynergy was formerly known as Bank of Cyprus, which has operated in the UK since 1955, and looks after £1.76bn of savings

Gatehouse Bank
4.35% £1,000 / £1m

Branch
App
Internet
Post
Telephone

Branch
App
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  • Paid Annually
  • Paid On Maturity
  • Paid Away

This account pays expected profit, rather than interest, to meet Sharia law requirements.  

GB Bank
4.35% £1 / £100,000

Branch
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Branch
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  • Paid Annually
  • Paid On Maturity

This fixed rate bond has a fixed maturity date of 27th February 2024.

GB Bank was awarded a banking licence (with restrictions) in October 2021 and launched savings on 23rd November 2022.  It is based in Middlesborough and intends to get Britain building by supporting regional SME property developers with development financing.

Investec
4.35% £5,000 / £250,000

Branch
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Branch
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  • Paid On Maturity
 A competitive rate from Investec, the 10th largest bank in the UK
Kent Reliance
4.35% £1,000 / £1,000,000

Branch
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Post
Telephone

Branch
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  • Paid Away or Compounded
  • Paid Monthly
  • Paid Annually
  • Paid On Maturity
Kent Reliance is part of One Savings Bank, a FTSE 250 listed company, and has 9 branches in Kent and the South East
One Savings Bank has recently completed its merger with Charter Court Financial Services (which includes Charter Savings Bank) and now looks after combined savings balances of £16.6bn
OakNorth Bank
4.46% £1,000 / £250,000

Branch
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Branch
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  • Paid Annually
  • Paid On Maturity

OakNorth launched in 2015 and offers debt and property finance to UK small and medium size enterprises.

OakNorth change their rates frequently so move quickly if this rate appeals

You can find out more about them here

Shawbrook Bank
4.44% £1,000 / £2,000,000

Branch
App
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Telephone

Branch
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  • Paid on Anniversary
  • Paid Away or Compounded
  • Paid Annually

Essex based Shawbrook launched in 2011 and looks after £7.84bn of savings

Find out more about them here

SmartSave
4.51% £10,000 / £85,000

Branch
App
Internet
Post
Telephone

Branch
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  • Paid on Anniversary
  • Paid Annually
  • Paid Compounded

Wrexham based Chetwood Financial got its banking licence at the end of 2018 following a £40m investment from Elliott Advisors.

It lends its money to consumers via ‘dynamic loans’ which adapts the rate as consumer’s credit scores improve

Find out more about them here

Vanquis Bank
4.35% £1,000 / £250,000

Branch
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Branch
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  • Paid on Anniversary
  • Paid Away or Compounded
  • Paid Monthly
  • Paid Annually

Vanquis Bank is part of the Provident Financial Group, which was founded in 2002 and looks after £1.68bn of deposits.

You can find out more about Vanquis in our banking directory here

About The Savings Guru

We help savers get the best deal for their money by providing unique insight in to the savings market.  We help prospective banks apply for a banking licence and we help build customer services, products and marketing for them.  We also work with existing banks and building societies to improve their savings propositions.  This  insider view of savings means we are uniquely placed to help savers.

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