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1 Year Fixed

Provider Rate Min/Max Deposit Opening Account Accessing Account Interest Options SG Verdict
Al Rayan Bank
2.17% £1,000 / No Maximum

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Anniversary
  • Paid Away or Compounded
  • Paid Quarterly

This account pays expected profit, rather than interest, to meet Sharia law requirements.  Those savers comfortable with this are likely to be attracted by the rate and variety of channels to open and manage their account  

BLME Bank
2.20% £1,000 / £1,000,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid On Maturity
  • Paid Away

This account pays expected profit, rather than interest, to meet Sharia law requirements.  

Chetwood
2.00% £1,000 / £85,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Anniversary
  • Paid Annually
  • Paid Compounded

Wrexham based Chetwood Financial got its banking licence at the end of 2018 following a £40m investment from Elliott Advisors.

It lends its money to consumers via ‘dynamic loans’ which adapts the rate as consumer’s credit scores improve

Close Brothers
1.96% £10,000 / £2,000,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Anniversary
  • Paid Annually
  • Paid Away

Close Bank have been trading since 1878 and are a FTSE 250 listed company.

This is their first ever appearance in our 1 Year tables

Gatehouse Bank
2.00% £1,000 / £85,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Annually
  • Paid On Maturity
  • Paid Away

The best one year rate so far in 2019.

This account pays expected profit, rather than interest, to meet Sharia law requirements.  

Ikano Bank
1.95% £1,000 / £1,000,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Anniversary
  • Paid Away or Compounded

Ikano Bank is owned by the Kamprad family who founded Ikea.  

Ikano tend to be more competitive for longer term fixed rate bonds.

Deposits are protected by the Swedish Deposit Insurance Scheme up to £85,000.

About The Savings Guru

We help savers get the best deal for their money by providing unique insight in to the savings market.  We help prospective banks apply for a banking licence and we help build customer services, products and marketing for them.  We also work with existing banks and building societies to improve their savings propositions.  This  insider view of savings means we are uniquely placed to help savers.

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