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2 Year Fixed

Provider Rate Min/Max Deposit Opening Account Accessing Account Interest Options SG Verdict
Al Rayan Bank
0.75% £5,000 / 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 variety of channels to open and manage their account

BLME
0.75% £1,000 / £1,000,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Away or Compounded
  • Paid On Maturity

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

Gatehouse Bank
1.10% £1,000 / £85,000

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.  

Hampshire Trust Bank
0.80% £1,000 / £250,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • 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

Ikano Bank
0.76% £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.

Shawbrook Bank
0.82% £1,000 / £2,000,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Anniversary
  • Paid Away or Compounded
  • Paid Annually

Competitive rate from Essex based Shawbrook, who launched in 2011 and look after over £6bn of deposits

UBL
0.70% £2,000 / £1,000,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Anniversary
  • Paid Monthly
  • Paid Annually
  • Paid Away

First ever appearance in our 2 year tables for United Bank UK, which was formed in 2001 from the merger of two Pakistani banks.

It has branches in Ilford, Bradford, Birmingham, Glasgow Manchester and London

Union Bank of India
0.90% £1,000 / £1,000,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid On Maturity

First entry in our 2 Year 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

United Trust Bank
0.70% £5,000 / £1,000,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid On Maturity

London based specialist lender United Trust has a single branch in Moorgate and allows 14 days to fund the account.

Zopa Bank
0.77% £1,000 / £250,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Monthly
  • Paid Compounded

Zopa started life as a peer to peer lending business in 2005 but became a licensed bank in 2019 and launched their first savings accounts in August 2020.

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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