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Savings round up - 22nd April

Although the rate of inflation fell to 3.2%, this was higher than expected by the financial markets and has pushed out the expectation of a Base Rate cut now until November this year. This provided some good news for savers as two providers offered Base Rate on 6 Month Fixed rates and we saw a samll increase to 1, 2, 3 and 5 Year Fixed rates.  Easy access rates continued to ease back though and there's now just one provider paying over 5%. However, we expect easy access best buys to hold around 5% in light of the news. Here's our round up of all the best buys and key changes from the savings market from the past week:

Easy Access

Monument lead the way as the sole provider paying above 5% - Monument's 5.01% rate is a straight forward savings account but does have a high (£25,000) minimum balance. Close Brothers and Principality Building Society share second - both paying 5% - Close have a high minimum balance of £10,000 and Principality's account is restricted to two withdrawals per year. Kent Reliance pay 4.96%, Oxbury Bank offer 4.94% and Charter Savings Bank pay 4.93%. Aldermore Bank's Double Access pays 4.90%Hampshire Trust Bank are also at 4.90% and so our Secure Trust. Leeds Building Society completed the top 10 paying 4.85%


There is a three way tie for best buy at 5.25% - Investec pay this for 90 Days, United Trust Bank for 180 Days - although this is a Base Rate tracking account - as do Hinckley & Rugby Building Society for their 180 Day Notice.  QIB Bank pay 5.20% via Raisin and Cynergy and Vanquis pay the same rate - both for 120 Day's Notice. Shawbrook are next paying 5.16% for 45 Day's Notice.

Up to 1 Year Fixed

Atom Bank and Allica pay best buy rates of 5.25% with Gatehouse Bank joining the short term market for the first time with a 5.22% 6 Month rate. Hampshire Trust Bank's 5.18% is next and BLME pay 5.17% via Hargreaves Lansdown.

Atom Bank lead the way on 9 Months paying 5.15% ahead of Emirates Bank who offer 5.10% on their 9 Month Fixed via Hargreaves Lansdown. They are ahead of Hampshire Trust Bank who pay 5.06% and Kent Reliance who pay 5.03% via Hargreaves Lansdown

Also worthy of note is Emirates 3 Months Fixed at 5.09% on Hargreaves Lansdown.

1 Year Fixed

SmartSave are the new best buy following their increase to 5.17%. Close Brothers pay 5.16% via Hargreaves Lansdown's Active Savings, and also direct, alongside Allica Bank. Hampshire Trust Bank pay 5.10%, as they rejoin the market, Emirates Bank also pay 5.10% via Hargreaves Lansdown as do Al Rayan Bank via Raisin. They are alongside Zenith Bank and Hodge. Tandem pay 5.07% following their increase last week, OakNorth Bank pay 5.06% via Hargreaves Lansdown and StreamBank pay 5.05%.

18 Month Fixed

United Trust Bank lead the way with their 15 Month Fixed paying an improved 5%. Cynergy Bank's 15 Month Bond pays 4.85% with Allica in third offering 4.81%, following their increase late last week. There's a five way tie at 4.80%. Zopa Bank pay 4.80% via Hargreaves Lansdown Active Savings, as do Al Rayan Bank, BLME, Cynergy, Tesco Bank and Union Bank of India.

2 Year Fixed

SmartSave are the new best buy at 5.08%, a whisker ahead of DF Capital at 5.07% and Hampshire Trust Bank, who rejoin at 5.06%RCI Bank improved their rate to 5.05% to move alongside Close Brothers, who pay 5.05% via Hargreaves Lansdown Active Savings and direct. There's a drop to Union Bank of India who offer 4.95%, who have been joined by Atom Bank. Zenith Bank and Hodge pay 4.90% to complete the top 10.

3 Year Fixed

SmartSave move top after their increase to 4.71%. RCI Bank also increased - to 4.70% - to move alongside Atom Bank. Zenith Bank pay 4.67%, narrowly ahead of Oxbury and Hodge Bank both offering 4.66%. Close Brothers pay 4.65% via Hargreaves Lansdown Active Savings and direct as do Hampshire Trust Bank and Al Rayan Bank, who pay 4.65% via Raisin and direct. UBL pay 4.63% via Raisin as do Birmingham Bank and Shawbrook.

4 Year Fixed

isbank, pay a best buy 4.50% via Raisin ahead of Oxbury Bank who pay 4.31% ahead of Zopa Bank and BLME, who both pay 4.30%. UBL pay 4.26% via Raisin. United Trust Bank offer 4.25% and Cynergy complete the top seven at 4.20%.

5 Year Fixed 

SmartSave lead the way paying 4.57% ahead of Hodge at 4.56%, who also increased last week. They move above Al Rayan Bank, who pay 4.55% via Raisin, and Close Brothers. They are a whisker ahead of Hampshire Trust Bank who offer 4.54%. Shawbrook pay 4.53% and UBL Bank who pay 4.52% via Raisinisbank pay 4.50% via Raisin.

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