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Savings round up - 20th May

It was a quiet week in the savings market with few changes. We lost the best buy easy access as Paragon withdrew, but there's new notice, 1 and 2 Year Fixed best buys. However, as we suggested last week, these are the result of providers jostling for position and not a rebound in rates.  On 1 Year Fixed, there's just six providers paying above 5.10% and we expect that to fall this month with 1 Year top rates heading towards the 5% - 5.10% range. The two 2 Year rates above 5% look unsustainable too and we'd be surprised if either survive the week. Here's our round up of all the best buys and key changes from the savings market from the past week:

Easy Access

Agricultural bank, Oxbury, are the new best buy with their easy access account paying 5.02%. This has a high minimum balance of £20,000 though. Monument's 5.01% rate is third and is straight forward savings account but does also have a high (£25,000) minimum balance. Paragon Bank pay 5% via Raisin, which is available to those with £10,000+ to save. Close Brothers share fourth - paying 5% too - and also ask for a £10k minimum balance. Kent Reliance pay 4.96%, Oxbury Bank offer 4.94% to those with £1,000 to save, and Charter Savings Bank pay 4.93%. Aldermore Bank's Double Access pays 4.90% as do Secure Trust. QIB Bank enter the top 10 - paying 4.85% via Raisin.


There's a new best buy as DF Capital relaunch their 90 Day Notice paying 5.30%. There's a four way tie for second at 5.25% - Investec pay this for 90 Days, Charter Savings Bank for 95 Days, United Trust Bank for 180 Days - although this is a Base Rate tracking account - and Hinckley & Rugby Building Society for their 180 Day Notice. Monument Bank's 45 Day Notice pays 5.20% alongside Vanquis, who pay the same rate but for 120 Day's Notice. Shawbrook are next paying 5.16% for 45 Day's Notice. BLME pay 5.15% for 90 Days. Monument pay 5.13% for 7 Days and Kent Reliance offer the same rate but for 60 Days. StreamBank pay 5.05% for 90 Days Notice.

Up to 1 Year Fixed

Gatehouse Bank pay a best buy 5.22% for their 6 Month rate. Charter Savings Bank pay 5.16% via Hargreaves Lansdown Active Savings as do Kent Reliance. Cynergy pay 5.12% and Zenith Bank pay 5.06% following their rate cut.

Charter Savings Bank offer a best buy 5.14% on their 9 Month Fixed via Hargreaves Lansdown as do Kent Reliance. Next is ICICI Bank who pay 5.13% via Hargreaves Lansdown and Al Rayan Bank who pay 5.10% via Raisin.

1 Year Fixed

Habib Zurich are the new best buy as their up their rate by 3bps to 5.21% to move ahead of Al Rayan Bank who pay 5.20% via Raisin and direct. Close Brothers pay 5.16% with Hodge offering 5.14% and FCMB Bank paying 5.12% via Raisin. SmartSave drop to 5.11% ahead of Aldermore Bank who pay 5.10% via Raisin and National Bank of Eygpt, who also pay 5.10% on Raisin.

18 Month Fixed

United Trust Bank lead the way with their 15 Month Fixed paying an improved 5%. Al Rayan Bank pay 4.85% via Raisin and direct, as do Cynergy Bank on their 15 Month Bond and Allica Bank, following their increase. Aldermore are just behind paying 4.84% via Hargreaves Lansdown. There's a five way tie at 4.80%. Zopa Bank pay 4.80% via Hargreaves Lansdown Active Savings, as do Cynergy and Union Bank of India.

2 Year Fixed

DF Capital are the new best buy paying 5.07% and move ahead of last week's leader, RCI Bank who are paying 5.05% - the only other provider paying over 5%. There's a drop then to Birmingham Bank who pay 4.97%. Close Brothers pay 4.95% via Hargreaves Lansdown's Active Savings platform alongside Union Bank of India. Al Rayan Bank, who pay 4.92% via Raisin and direct are next. Zenith Bank pay 4.90% via Raisin and direct as do Atom Bank.

3 Year Fixed

Birmingham Bank remain the best buy paying 4.73%. They are followed by Shawbrook at 4.71%. RCI Bank are just behind at 4.70% - alongside several others including Zenith Bank who pay 4.70% via Raisin, Al Rayan Bank's 4.70% via Raisin,  Atom Bank and Hodge. RCI Bank have themselves launched on Raisin at 4.70%. Oxbury pay 4.66% with Close Brothers paying 4.65% via Hargreaves Lansdown Active Savings.

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 

Birmingham Bank are the best buy at 4.58%, just ahead of Shawbrook at 4.57%. Third is Hodge at 4.56%, with Al Rayan Bank, who pay 4.55% via Raisin, and Close Brothers who also offer 4.55% via Hargreaves Lansdown's Active Savings and direct, just behind. UBL Bank pay 4.52% via Raisin and direct and isbank pay 4.50% also via Raisin. Atom completed the top ten at 4.50%.

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