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Savings round up - 28th May

It was a week of surprises in the savings market with Raisin providing four new best buys on 1, 3, 4 and 5 Year terms. RCI Bank continues to defy logic and is now 10bps clear on 2 Year which surely has to end this week. Easy access rates are moving downwards as a cut to Base Rate looks almost certain to come in August and there's now just two providers paying over 5%. Here's our round up of all the best buys and key changes from the savings market from the past week:

Easy Access

Having withdrawn from the market last Monday, Agricultural bank, Oxbury, are back as the new best buy with their easy access account paying 5.02% as of Friday afternoon. This has a high minimum balance of £20,000 though. Monument's 5.01% rate is next and is a straight forward savings account but does also have a high (£25,000) minimum balance. Kent Reliance are third paying 4.96% with Oxbury Bank offering 4.94% to those with £1,000+ to save, and Charter Savings Bank paying 4.93%. Paragon's Double Access account now pays 4.91% ahead of Aldermore Bank's Double Access which pays 4.90%, as do Secure Trust. QIB Bank pay 4.85% via Raisin and share joint ninth with Leeds Building Society.


There's a four way tie for best buy 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.  Zenith Bank pay 5.08% and Monument offer 5.07%.

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.

Emirates Bank are back with their 3 Month Fixed paying 5.09% via Hargreaves Lansdown.

1 Year Fixed

National Bank of Egypt pay a best buy 5.22% via Raisin to move ahead of Al Rayan Bank who pay 5.20% via Raisin and direct. SmartSave are next at 5.17% ahead of another Raisin provider, Ziraat Bank, who pay 5.15%. Tandem increased their rate to 5.12% last week. Charter Savings are next at 5.07% ahead of Aldermore Bank who pay 5.05% via Raisin and StreamBank who also pay 5.05%.

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 4.75% via Hargreaves Lansdown Active Savings, as do Cynergy and Union Bank of India.

2 Year Fixed

RCI Bank are the best buy paying 5.05% - the sole provider paying over 5%. There's a big drop then to Union Bank of India and Close Brothers at 4.95%. Al Rayan Bank pay 4.92% via Raisin and direct ahead of Zenith Bank who pay 4.90% via Raisin and direct. Atom Bank pay 4.90% and Hodge are at 4.89%.

3 Year Fixed

isbank are the new best buy at 4.75% via Raisin.  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 RCI Bank have themselves launched on Raisin at 4.70%. Oxbury pay 4.66% with Close Brothers paying 4.65%.

4 Year Fixed

isbank, pay a best buy 4.75% via Raisin after their increased their rate on Friday. They are almost half a percent ahead of Oxbury Bank who pay 4.31% and 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 

isbank pay a best buy 4.75% via Raisin to soar clear off Shawbrook at 4.57%. Third is Hodge at 4.56%, with Al Rayan Bank, who pay 4.55% via Raisin, and GB Bank who also pay 4.55% via Raisin, just behind. Close Brothers also pay 4.55% and UBL Bank pay 4.52% via Raisin and direct. Atom Bank pay 4.50% before a big drop to BLME and Zopa at 4.30%.

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