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Savings round up - 17th June

Vanquis have taken the lead on 1, 2 and 3 Year rates. However, Raisin continue to offer a £50 cashback bonus for June via this link which will make them more remunerative for those saving £10,000 or more who are not existing customers with Al Rayan paying 5.20% on 1 Year and RCI Bank 4.76% on 3 Year. The Bank of England meet on Thursday to decide Base Rate and we expect them to hold it at 5.25%, ahead of the general election next month. However, a surprise move downwards will trigger further cuts to savings rates so this could be an excellent chance to lock in to some very good fixed rates. Easy access rates are largely pricing in a cut with the Bank of England expected to cut to 5% on 1st August, regardless of who wins the election. Here's our round up of all the best buys and key changes from the savings market from the past week:

Easy Access

Chase stay top of the best buys courtesy of a bonus rate offer for six months - they are paying a 1% bonus on top of their 4.10% rate until 16th January. Agricultural bank, Oxbury, are next with their easy access account paying 5.02% but this has a high minimum balance of £20,000 though. Chip move up to third paying 5.01% on their app only easy access after the addition of a 0.17% bonus for 12 months. Monument's 5.01% rate is tied with Chip and is a straight forward savings account but does also have a high (£25,000) minimum balance. Oxbury Bank are next offering 4.94% to those with £1,000+ to save, followed by Paragon's Double Access paying 4.91%, which is a whisker ahead of Aldermore Bank's Double Access which pays 4.90%. Secure Trust and Close Brothers are also at 4.90%


Monument lead the way paying 5.27% on their 60 Day Notice. Second place sees a three way tie at 5.25% - Investec pay this for 90 Days, Vanquis for 120 Days, United Trust Bank for 180 Days - although this is a Base Rate tracking account - and Hinckley & Rugby Building Society also for 180 Days. Monument Bank's 45 Day Notice pays 5.20% followed by Shawbrook paying 5.16% also 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

Monument Bank pay a best buy 5.17% for 6 Months followed by Allica, Atom Bank, Secure Trust and Zenith who all pay 5.15%. 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.

Atom pay a top rate 5.15% for 9 Months Fixed, with FCMB Bank paying 5.12% via Raisin, but this also comes with £50 cashback for those signing up via this link. Al Rayan Bank are next at 5.10% via Raisin with United Trust Bank paying 5.08%.

Mizrahi Tefahot Bank pay 5.22% for 3 Months Fixed via Raisin.

1 Year Fixed

Vanquis Bank are the new market leaders paying 5.21%, narrowly ahead of Al Rayan Bank at 5.20% via Raisin.  Raisin are offering £50 cashback for savers meeting the terms and signing up via this link. Hodge and Smart Save both pay 5.16% direct. FCMB, Mizrahi Tefeahot and Ziraat Bank all pay 5.15% via Raisin - all included in the £50 cashback offer.  Atom Bank, Union Bank of India and Close Bank all pay 5.15%.

18 Month Fixed

United Trust Bank lead the way with their 15 Month Fixed paying 5.05% following their increase last week. Union Bank of India are next at 4.95% ahead of Al Rayan Bank paying 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 and Vanquis are tied at 5.06% after the latter increased last week to move joint top. RCI Bank were also on the move - up to 5% - to move alongside Atom Bank. Next is Hodge, who upped their rate to 4.97% to move ahead of Close Brothers who pay 4.95% via Hargreaves Lansdown and direct. They have also been joined by Secure Trust Bank at the same rate. Al Rayan Bank are next paying 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.

3 Year Fixed

Vanquis are the new best buy paying 4.80%. RCI Bank were also on the move - up to 4.76%RCI Bank also pay 4.76% via Raisin but this comes with £50 cashback! isbank pay 4.75% via Raisin, also with £50 cashback, as do United Trust Bank who increased to 4.75% on Friday. Atom and Secure Trust also pay 4.75% and Hodge ware just behind at 4.74%. Shawbrook pay 4.73% ahead of Zenith Bank who pay 4.70% via Raisin and Al Rayan Bank who also pay 4.70% via Raisin.

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%, way ahead of Oxbury Bank who pay 4.31%. United Trust Bank are next, following their increase to 4.30%, which moves them alongside and Zopa Bank. UBL pay 4.26% via Raisin and direct.

5 Year Fixed 

United Trust Bank pay a best buy 4.60%, following their increase on Friday, moving alongside Atom. Hodge are next at 4.58%, just ahead of Shawbrook at 4.57%. Al Rayan Bank, who pay 4.55% via Raisin, and GB Bank who also pay 4.55% via Raisin, are just behind. Close Brothers pay 4.55% via Hargreaves Lansdown and direct as do Secure Trust and Vanquis, who both improved rates last week.

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