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Provider Rate Min/Max Deposit Opening Account Accessing Account Interest Options SG Verdict
AL / Hampshire Trust Bank
1.15% £1,000 / £250,000

Branch
App
Internet
Post
Telephone

Branch
App
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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 looks after in excess of £1.63bn of deposits.

 

Al Rayan Bank
1.45% £2,500 / No Maximum

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Monthly

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

 Aldermore
1.35% £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

 Aldermore - double access
1.40% £1,000 / £1,000,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

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

This account is limited to up two withdrawals within an anniversary year.  If three or more withdrawals are made in the year, the rate reduces to 0.10% from the date of the third withdrawal.  The interest rate resets to the higher rate at the next anniversary.

Peterborough based Aldermore launched in 2009 and look after over £13.1bn of deposits.  You can find out more about them here

Atom Bank
1.35% £1 / £100,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Monthly
  • Paid Compounded

Durham based Atom Bank has attracted over 20,000 customers and £2.4bn of savings since its launch in April 2016.

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

Chase
1.50% £1 / £250,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Away or Compounded
  • Paid Monthly

Chase is a new digital bank that has been launched by US banking group JP Morgan

Coventry Building Society
1.35% £1 / £250,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid on Anniversary
  • Paid Monthly
  • Paid Annually
  • Paid on the last working day of the month

Very competitive rate from Coventry Building Society which is the 2nd largest building society in the UK looking after £38.2bn of deposits

FCE Bank
1.30% £1 / £2m

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

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

Essex based Ford Money have regularly been in our best buy tables since their launch in April 2017. 

The rate is variable but any changes get notified to savers who benefit from any upward movements automatically.

Gatehouse Bank
1.40% £1,000 / £250,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid on Anniversary
  • Paid Annually
  • Paid Away

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

Paragon Bank - Triple Access
1.30% £1 / £500,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

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

The rate on this account drops to 0.25% if four or more withdrawals are made within a 12 month period

Birmingham based Paragon launched in 2014 and now look after £9.3bn of savings.  You can find out more about them in our banking directory here

Principality Building Society - Double Access
1.40% £1 / £1m

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Annually
  • Added to the account
  • Paid 1st January

Savers can only make two withdrawals per calendar year from this account.  It can be closed at any time but closure counts as a withdrawal.

Principality is the 6th largest building society in the UK, looking after £7.6bn of savings

RCI Bank
1.32% £100 / £250,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

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

Part of French car giant Renault, RCI are a UK licensed bank and covered by the Financial Services Compensation Scheme

You can find out more about them here

Sainsburys Bank
1.40% £1,000 / £500,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

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

Sainsbury’s Bank opened in 1999 and was the first supermarket bank to open in the UK.

This account is limited to three withdrawals each year, otherwise the rate reduces to 0.65%.

Secure Trust Bank
1.40% £1,000 / £85,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Away or Compounded
  • Paid Monthly

Birmingham based Secure Trust Bank look after over £2bn of deposits.  They launched their first easy access account in March 2022

Find out more about them here

Skipton Building Society - Triple Access
1.36% £5,000 / £1m

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid on Anniversary
  • Paid Annually

This product is limited access with only three withdrawals per year with a third withdrawal in the year acting as closure of the account.

Skipton is the 4th largest building society in the UK and looks after £19.4bn of deposits.  

Virgin Money
1.30% £1 / £250,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Away or Compounded
  • Paid Monthly
  • Paid Annually

A very low minimum balance, but does come with limited access as this account is limited to three withdrawals from January to December, with the rate falling to 0.75%  if more than three withdrawals are made during the calendar year.

Yorkshire Building Society
1.33% (£10,000+) 1.10% (£1,000+) £1 / No max

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Away or Compounded
  • Paid Annually
  • Paid 31st March

This account comes with unlimited withdrawals and tiered rates of interest, with 1.38% payable on balances of £50,000+

Yorkshire are the 3rd largest building society in the UK and look after £30.7bn of savings.

Zopa Bank
1.40% £1 / £50,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Away or Compounded
  • Paid Monthly

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.

This account comes with savings pots which pay 1.45% (7 Day Notice), 1.60% (31 Day Notice) and 1.80% (95 Day Notice)

You can 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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