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1 Year Fixed

Provider Rate Min/Max Deposit Opening Account Accessing Account Interest Options SG Verdict
Al Rayan Bank
5.05% £5,000 / £1m

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid on 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  

Allica Bank
5.16% £10,000 / £250,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Annually
  • Paid On Maturity

Allica are based in Milton Keynes and were awarded their banking licence in 2019 and launched in April 2020

You can find out more about them here

 Aldermore
5.05% £1,000 / £1,000,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Away or Compounded
  • Paid Monthly
  • Paid Annually

Peterborough based Aldermore launched in 2009 and look after over £13.1bn of deposits.

You can find out more about them here

 Hampshire Trust Bank
5.17% £1,000 / £250,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid on Anniversary
  • Paid Away or Compounded
  • Paid Annually

London based Hampshire Trust Bank launched in 1977 but was acquired by a new management team in 2014 and now look after in excess of £1.63bn of deposits.

You can read more about them here

 HL Active Savings - Close
5.16% £1,000 / £1m

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid on maturity
  • annually or compounded

This product is provided by Close Brothers on Active Savings, which is a savings platform provided by investment giant Hargreaves Lansdown, offering savers access to a range of products from its partner banks and building societies.

 HL Active Savings - Emirates
5.16% £1,000 / £1m

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid on maturity
  • annually or compounded

This product is provided by Emirates NBD Bank on Active Savings, which is a savings platform provided by investment giant Hargreaves Lansdown, offering savers access to a range of products from its partner banks and building societies

 QIB - Raisin
5.02% £1,000 / £85,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid On Maturity

This product is only available via the Raisin UK savings platform. You can find out more about Raisin here

 StreamBank
5.15% £1,000 / £100,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Away or Compounded
  • Paid Monthly
  • Paid Annually

StreamBank was awarded a banking licence in June 2022 and launched its first savings products on 21st February 2023.

Atom Bank
5.25% £50 / £100,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid on Anniversary
  • Paid Away or Compounded
  • Paid Monthly
  • Paid Annually

Durham based Atom Bank has attracted over £3.2bn of savings since its launch in April 2016.

Savers can only access Atom’s products via their mobile app

You can find out more about them here

Charter Savings Bank
5.07% £5,000 / £1m

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid on Anniversary
  • Paid Away or Compounded
  • Paid Monthly
  • Paid Annually

Wolverhampton based Charter Savings launched in 2015.

It is now part of One Savings Bank which looks after a combined £16.6bn across its Charter Savings and Kent Reliance savings brands

Close Brothers
5.16% £10,000 / £2m

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Annually
  • Paid On Maturity
  • Paid Away

Close Bank have been trading since 1878, are a FTSE 250 listed company and look after over £6.4bn of savings

You can find out more about them here

Habib Bank
5.05% £5,000 / £1m

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Annually
  • Paid On Maturity

Habib Bank Zurich has been trading in the UK since 1974 and has eight branches in London, Manchester, Birmingham and Leicester.

Habib offer a generous 30 days to fund your bond, once opened.

Savers should note that, while this account can be opened online, it can only be managed by post

Hodge Bank
5.16% £1,000 / £1,000,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Away or Compounded
  • Paid Monthly
  • Paid Annually
  • Annual interest paid 31st March
Hodge bank is based in South Wales and was authorised in 1987.  It looks after just over £1bn of deposits.
 
Investec
5.15% £5,000 / £250,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid On Maturity
 A competitive rate from Investec, the 10th largest bank in the UK
Kent Reliance
5.01% £1,000 / £1,000,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Away or Compounded
  • Paid Monthly
  • Paid Annually
  • Paid On Maturity
Kent Reliance is part of One Savings Bank, a FTSE 250 listed company, and has 9 branches in Kent and the South East
One Savings Bank has recently completed its merger with Charter Court Financial Services (which includes Charter Savings Bank) and now looks after combined savings balances of £16.6bn
OakNorth Bank
5.01% £1,000 / £250,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Annually
  • Paid On Maturity

OakNorth launched in 2015 and offers debt and property finance to UK small and medium size enterprises.

OakNorth change their rates frequently so move quickly if this rate appeals

You can find out more about them here

Shawbrook Bank
5.16% £1,000 / £2,000,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid on Anniversary
  • Paid Away or Compounded
  • Paid Annually

Essex based Shawbrook launched in 2011 and looks after £7.84bn of savings

Find out more about them here

SmartSave
5.26% £10,000 / £85,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid on 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

Find out more about them here

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.

Find out moreMeet the Team

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