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Savings round up - 29th August

It's been a big week of movements with best buy rates increasing as much as 0.20% on the week.  In 2 Year Fixed, last week's leader now sits eighth!   With base rate predicted to rise to at least 2% in September, there's no sign of any slow down in activity in the savings market.  Here's our round up of the key changes and best buys:

Easy Access

Al Rayan lead the way at 1.90% but there has been plenty of movement behind them.  Cynergy made their 1.85% rate existing customers only during the week but Shawbrook have filled the gap by upping their easy access rate to 1.86%. Zopa sit third still at 1.81%, marginally ahead of Gatehouse Bank and Paragon at 1.80%.  Behind them, UBL Bank pay 1.76% via Raisin, having increased their rate by 0.24% during the week, to sit ahead of Nationwide, who increased their triple access saver to 1.75%.


Allica and OakNorth continue to trade blows at the top of the notice tables.  OakNorth have upped their 120 Day Notice rate to 2.30% and 90 Day to 2.26%.  Allica have left their  95 Day Notice rate to 2.26% but have introduced a 180 Day Notice paying 2.30%.  United Trust Bank have moved up to third with their 200 Day Notice paying 2.25% and 1.85% on 100 Day Notice.  UBL are next at 2.16% for their 95 Day Notice.  This account is with Raisin, who are paying a £30 sign up bonus for new customers to their platform who apply via Savings Guru. 

1 Year Fixed

We've seen a huge 0.20% jump on the week with Tandem Bank leading the way now at 3.30%, just ahead of Shawbrook at 3.26%.  Atom are third at 3.20% and Gatehouse are fourth at 3.15%.   Last week's leaders QIB, who are paying 3.10% via Raisin, are down to fifth although they are joined by FCMB.  Both providers come with a bonus of £30 for new to Raisin customers applying via Savings Guru.  With seven providers tied on 3.05% we can only see more changes this week with further movement likely.

18 Month Fixed

Hampshire Trust Bank continue to lead the way but with an improved rate of 3.36%.  Shawbrook are second at 3.31% and Gatehouse third at 3.25%.  BLME increased their rate to 3.20% to make it four providers paying above last week's best buy of 3.15%.   QIB, via Raisin, pay 3.15% to complete the top five.

2 Year Fixed

Last week's leader, Hampshire Trust Bank, now sit eighth, such has been the movement in the 2 Year category.  SmartSave Bank top the charts at 3.47% but they are only a whisker ahead of Monument Bank who pay 3.46%.  Ford Money and Tandem are next with both paying 3.45%.  Hodge Bank (3.41%) hold off Atom Bank and Gatehouse (3.40%) who are all ahead of Hampshire at 3.36%

3 Year Fixed

There's been plenty of change in three year too although the price differential is less dramatic.  Tandem lead the way at 3.50% ahead of JN Bank (3.45%) who also increased their rates during the week.  Gatehouse Bank are third at 3.42% ahead of Atom, Shawbrook and BLME who all pay 3.40%.  With just 0.05% between 4th and 15th spot, there will inevitably be further changes in 3 Year this week as providers respond to last week's moves. 

The other move of note in the 3 Year category is from NS&I, who launched a third issue of the government's green savings bonds.  Issue 1 paid just 0.65% and, although Issue 2 was doubled, 1.30% wasn't ever going to attract anything like the £15bn the government is wanting to raise.  Issue 3 is paying a far more competitive 3%, which while still someway off the best deals, is far more likely to attract those who are happy to sacrifice a little on their rate to support green projects.

4 Year Fixed

JN Bank are the new leaders paying 3.47% ahead of BLME at 3.45%.  Gatehouse Bank are third at 3.43% with all three increasing their rates during the week.  Last week's joint leaders, Aldermore Bank and United Trust Bank share fourth at 3.40% 

5 Year Fixed 

Tandem moved top with a best buy 3.55% with Gatehouse Bank (3.51%) also moving ahead of Aldermore Bank, who were last week's leaders at 3.50%.  They have been joined by BLME, JN Bank and Ford Money who all increased their rates during the week to 3.50%.

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