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18 Month Fixed

Provider Rate Min/Max Deposit Opening Account Accessing Account Interest Options SG Verdict
Al Rayan Bank
0.60% £5,000 / No Maximum

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

BLME
0.65% £1,000 / £1,000,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Annually
  • Paid Away

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

Charter Savings Bank
0.66% £5,000 / £1,000,000

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 is part of Chartercourt Financial Services, which launched in 2015, and has recently merged with One Savings Bank, which has a combined £16.3bn of savings balances

DF Capital
0.68% £1,000 / £85,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid On Maturity

Manchester based DF Capital are a specialist commercial bank lending to Small & Medium sized Enterprises (SMEs) in the UK.  They were authorised as a bank in September 2020.

DF Capital don't have internet banking yet so this account is operated and accessed via a secure email messaging service and by telephone (0330 094 0162)

Hampshire Trust Bank
0.65% £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.
 
HTB look after around approximately £700m of deposits
 
While Hampshire Trust normally allow account opening by post, this has been suspended in the wake of the Covid-19 outbreak
Metro Bank
0.45% £500 / £2,000,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Monthly
  • Paid Annually

Metro has 77 branches across the UK and has been in operation since 2009.  It looks after £14.5bn of savings

OakNorth Bank
0.63% £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

Oxbury Bank
0.65% £1,000 / £500,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid on Anniversary
  • Paid Annually
  • Paid Compounded

Oxbury is a specialist agricultural bank, focused on lending to UK farms.  It got its banking licence in 2020 and launched savings accounts in February 2021.

Savers will need a smartphone to download the Oxbury Banking App as part of the security measures to access their online account.

Progressive Building Society
0.45% £500 / £1m

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

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

Based in Belfast, Progressive was founded in 1914 and is the 12th largest building society in the UK looking after £1.56bn of deposits

Union Bank of India
0.50% £1,000 / £1,000,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid On Maturity

First entry in our 18 month tables from Union Bank of India (UK), which 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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