Savings round up - rates rise across the board!

09/05/2022

It was an excellent week for savers with new best buys in all main product categories with some top spots changing hands multiple times during the week.  Here's our round up of the key changes

Easy Access

Gatehouse Bank moved top of the best buys with an improved rate of 1.30% on their account.  Atom Bank also raised their easy access rate to 1.25%, to move alongside Aldermore, whose Double Access Account pays the same rate, to sit joint 2nd.  Zopa, who announced they'd attracted over £100m of savings in six weeks on their Smart Saver account, sit 4th at 1.20% with 15 providers now paying 1% or more, including current account linked products from Chase and Virgin.

Notice

PCF Bank top the notice charts with their 180 Day notice acccount paying 1.63% and 100 Day at 1.53%.  Oxbury Bank nudged their 120 Day Notice rate up to 1.58% to sit second in the tables.  We also had a new entrant with Market Harborough Building Society offering an array of well priced accounts starting with five notice terms ranging from 1.50% for 180 Day Notice down to 0.70% for 60 Day.  

1 Year Fixed

Al Rayan did what is becoming their usual trick of repricing just ahead of the weekend to regain top spot.  They now pay a best buy of 2.21% having lost the best buy position to Shawbrook Bank (2.15%). earlier in the week.  Oxbury sit third, having increased their rate to 2.13% with Hodge 4th at 2.10%. 

18 Month Fixed

Al Rayan lead the way at 2.37% with Shawbrook joint second alongside Paragon Bank, whose 2.30% rate is only available on the Raisin savings platform

2 Year Fixed

Al Rayan and Shawbrook both increased rates last week on 2 Year with the former leading the way at 2.57% with Shawbrook and PCF Bank tied for 2nd spot on 2.50%.  Atom increased their rate to 2.40% to sit joint 4th alongside several providers including a new entrant - Market Harborough Building Society.

3 Year Fixed

It's the same trio dominating the top of the 3 Year Fixed best buys with Al Rayan (2.67%) leading the way from Shawbrook and PCF Bank, who are both priced at 2.60%

4 Year Fixed

Rates dip on 4 Year where Oxbury Bank's improved rate of 2.55% sees it share top spot with United Trust Bank

5 Year Fixed

Shawbrook lead the way with their improved rate of 2.80%, topping the charts ahead of PCF's increased rate of 2.75%, with Hodge, Oxbury, Secure Trust and United Trust banks all paying 2.60% to share joint 3rd.

ISAs

Cynergy's best buy easy access rate of 1.05% has gone off sale to new customers so Marcus, Saga and Al Rayan Bank lead the way at 1%.  Shawbrook dominate the fixed ISA tables with top spot on 1, 2 and 5 Year Fixed paying 1.60%, 2% and 2.15%.  respectively.  Castle Trust Bank's 2.10% on 3 Year stops Shawbrook having a clean sweep although their 2.05% rate on the term see them occupy joint 2nd with Hampshire Trust Bank