1 Year Fixed

Provider Rate Min/Max Deposit Opening Account Accessing Account Interest Options SG Verdict
Al Rayan Bank
2.02% £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  

Atom Bank
2.05% £50 / £100,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

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

Durham based Atom Bank has attracted over 20,000 customers and £1.5bn of savings since its launch in April 2016.

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

BLME Bank
2.05% £10,000 / £2,000,000

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.  This and their high minimum balance level may make this account less attractive but it is the best rate in the market.   

Investec
2.05% £25,000 / £1,000,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Anniversary
  • Paid Monthly
  • Paid Annually
  • Paid Away
A highly competitive rate from Investec, the best for those wishing to apply and manage their account online.

The minimum investment of £25,000 may limit interest for some savers.

Tandem
2.05% £1,000 / £2,500,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Anniversary
  • Paid Annually
  • Paid Away

Highly competitive rate from Tandem Bank, who acquired Harrods Bank in January 2018.

The bond only allows one payment in to fund the account and cannot be managed online.  These factors may limit the attractiveness for savers

Union Bank of India
2.02% £1,000 / £1,000,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid On Maturity

Union Bank of India (UK) is a subsidiary of Union Bank of India, one of the largest public sector banks in India

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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