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Savings round up - 17th April

Easy access best buy rates remain unchanged but four of the top ten increased rates.  Although it is looking unlikely Chip will be topped, the gap is closing and there's plenty of competition.  1 Year rates continue to benefit from strong competition and 14 providers are separated by 0.04%!  The gap between the best 1 and 5 Year rates is now just 0.06% - the smallest gap we can ever recall in the market, reflecting the expectation that rates have or are almost at their pea, and will fall in the coming years. There's some great rates currently so here's our round up of the best buys and key changes from the savings market:

Easy Access

The two top remain the same but there is plenty of movement behind them.  Chip lead the way at 3.55% with Tandem at 3.50% (3.15% with a 0.35% bonus on top for 12 months that savers can apply for within their app).  Family Building Society moved up to third spot with their Online Saver now paying 3.40%.  Kent Reliance are fourth paying 3.37% with their account also available in branch and by post as well as online.  Shawbrook and Al Rayan remain at 3.36% but have been joined by Cynergy, although their rate is bolstered by a 12 month bonus of 0.15%.  Charter Savings moved up to 3.35% to knock Zopa down to nineth at 3.34% with Kroo Bank at 3.33% completing the top 10. 


Market Harborough Building Society and Allica Bank lead the way paying 4% for 180 Days' Notice.  Investec are up to third though with their 90 Day Notice paying 3.71%.  OakNorth were also on the move last week with their 120 Day paying 3.70% and 3.65% on 95 Days.  BLME continue to pay 3.65% on their 90 Day Account.  The other notable move was QIB increasing their 95 Day rate to 3.60% on Raisin.  

Up to 1 Year Fixed

The best buy short term fixed rate didn't change but we do have a new leader.  Turkish private bank isbank pay 4.25% for 9 Months via Raisin while over on Hargreaves Lansdown's Active Savings, Kent Reliance pay 4.20% with Secure Trust Bank paying 4.15% direct and Charter Savings paying 4.10% also on Hargreaves Lansdown. Kent Reliance and Allica Bank have the best 6 Month Fixed rate - both paying 4.10% - with Monument Bank at 4.03% the next best.

1 Year Fixed

Oxbury Bank are the new leader with their 5pm move on Friday to 4.54% enough to knock Al Rayan Bank's 4.53% off top spot. SmartSave had moved up to 4.53% earlier in the day as had Allica, who pay 4.52%. Kent Reliance are next at 4.51% via Hargreaves Lansdown and direct, the same rate as OakNorth. Charter Savings Bank on Hargreaves Lansdown, Atom Bank and Hodge Bank all pay 4.50% in an increasingly tight 1 Year category.  While there's little economic reason for rates to push higher, the tight competitive landscape could see providers respond to Friday's moves early this week.

18 Month Fixed

Al Rayan still lead the way on 18 Months at 4.57% but Hampshire Trust Bank pay 4.55% for just 15 Months Fixed.  Last week's second place, Charter Savings Bank, are next at 4.54% via Hargreaves Lansdown and direct, and Kent Reliance a whisker behind at 4.52%. There's a big drop then to Secure Trust Bank at 4.45%.

2 Year Fixed

It's the same top two in 2 Year - Al Rayan remain top paying 4.62% but Hampshire Trust Bank pay 4.60% to take second spot and are the best non-Sharia rate.  Oxbury Bank and SmartSave share third - both paying 4.58% - with Close Brothers just behind at 4.57%, a rate they pay via Hargreaves Lansdown and direct, alongside Charter Savings Bank. Secure Trust Bank are next at 4.55%. 

3 Year Fixed 

Al Rayan are way at in front on 3 Year paying 4.68% with Cynergy Bank and Close Brothers further back at 4.57% and DF Capital a touch further behind at 4.56%. Secure Trust pay 4.55% and Hodge 4.54%, after their rate increase last week. 

4 Year Fixed

OakNorth lead the way at 4.52%, after United Trust Bank's cut to 4.51% last week.  Aldermore Bank move up to third, after increasing their rate to 4.45%. Gatehouse Bank are next at 4.40% with BLME completing the top five at 4.35%.

5 Year Fixed 

Monument Bank lead the way at 4.60% alongside Tandem Bank who pay the same rate via Raisin.  Following their rate cut, United Trust Bank drop to joint third at 4.55% alongside Close Brothers and Hodge, who increased their rate last week.

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