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Savings round up - 3rd June

Raisin continue to dominate the savings market with the top three best buys on 1 Year and best buys for 9 Months Fixed, 3, 4 and 5 Year terms. They are now offering a £50 cashback bonus for June via this link which will make them even more attractive for those saving £10,000 or more who are not existing customers. As we predicted, RCI Bank's 5.05% rate was cut on Tuesday last week and there's now no rates above 5% for longer than 1 Year. Easy access and notice rates held up last week but the nearer we get to August 1st, when Base is expected to drop to 5%, the greater likelihood that rates above this mark will be cut. 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, remain as best buy with their easy access account paying 5.02% but 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 (but comes with a £50 cash bonus) 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

Short term fixed rates have dropped significantly in the past week. Zenith Bank now pay a best buy 5.08% for 6 Months Fixed and Monument offer 5.07%. National Bank of Egypt pay 5.06% via Raisin but there's also £50 cashback available via this link which will give a greater return for those saving £10,000 or more.

Al Rayan Bank pay a best buy 5.10% via Raisin for 9 Months Fixed which also comes with £50 cashback for those signing up via this link. National Bank of Egypt are next at 5.08% and Emirates Bank also pay 5.08% on their 9 Month Fixed via Hargreaves Lansdown with Atom Bank paying 5.05%.

Emirates Bank are paying 5.09% for 3 Months Fixed via Hargreaves Lansdown.

1 Year Fixed

National Bank of Egypt pay a best buy 5.22% via Raisin with Ziraat Bank paying 5.21% via Raisin too and Al Rayan Bank at 5.20% completing a top three via Raisin.  All three come with £50 cashback for savers meeting the terms and signing up via this link. SmartSave are next at 5.16% ahead of Union Bank of India and Vanquis Bank - both of whom pay 5.15% following increases last week. Tandem remain at 5.12% but Close Brothers have rejoined at 5.10% and Charter Savings are up at 5.09%. They are ahead of StreamBank who pay 5.05%.

18 Month Fixed

United Trust Bank lead the way with their 15 Month Fixed paying 5%. Union Bank of India are up to 4.95% as they improved their rate last week. 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. Cynergy pay 4.80% on their 18 Month and Zopa Bank pay 4.75% via Hargreaves Lansdown Active Savings.

2 Year Fixed

SmartSave are the new best buy paying 4.96%, narrowly ahead of Close Brothers who pay 4.95% via Hargreaves LansdownRCI Bank drop to third paying 4.92% following their cut. They are alongside Al Rayan Bank who also pay 4.92% via Raisin but this could be the best buy for most savers as there is £50 cashback available via this link for savers who meet the terms and conditions. Vanquis pay 4.92% and Al Rayan pay the same rate direct. Zenith Bank pay 4.90% via Raisin and direct as do Atom Bank and Union Bank of India following their rate cut last week.

3 Year Fixed

isbank are the new best buy at 4.75% via RaisinRCI Bank pay 4.72% also via Raisin and both come with £50 cashback available via this link. RCI Bank also pay 4.72% direct following their increase on Friday. They are followed by Shawbrook at 4.71% and Vanquis, who came back to the market on Friday. Zenith Bank who pay 4.70% via Raisin, Al Rayan Bank also pay 4.70% via Raisin as do Atom Bank. Oxbury pay 4.66% with Close Brothers paying 4.65% via Hargreaves Lansdown and direct.

4 Year Fixed

isbank, pay a best buy 4.75% via Raisin and comes with £50 cashback available via this link. Vanquis Bank are next at 4.60% following their increase on Friday. Next is 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 and this comes with £50 cashback available via this link. They are some way clear of 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% via Hargreaves Lansdown and direct. 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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