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Savings round up - 23rd May

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

Easy Access

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.

Notice

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%

1 Year Fixed

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%.

18 Month Fixed

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%.

2 Year Fixed

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.

3 Year Fixed

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.

4 Year Fixed

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%

5 Year Fixed

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.

About The Savings Guru

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