The Best Savings Rates This Week 02 07 21 moneyfacts.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneyfacts.co.uk Daily Mail and Mail on Sunday newspapers.
The top paying notice account that is available to new customers this week was Shawbrook Bank’s 120 Day Notice Personal Account Issue 48, which pays 0.72% gross on anniversary. This account requires a £1,000 minimum deposit to open. It allows further additions and withdrawals can be made subject to 120 days’ notice. The account must be opened online but can then be managed online and by phone. There is also a version of this account that pays interest monthly at the same gross rate.
The next-best notice account rate came from Allica Bank, which pays 0.70% gross on anniversary on its 95-Day Notice Personal Savings Account (Issue 1). This account requires a £1,000 minimum deposit to open. It allows further additions and withdrawals are permitted subject to 95 days’ notice. It can only be opened online and then must be managed by phone.
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With inflation rising to 1.5% in April, savers will be disappointed to see that, despite some higher rates entering the charts, just one seven year fixed rate bond that pays interest on maturity can currently beat the rate of inflation. As well as this, although saving rates have picked up over the last couple of weeks, there is uncertainty about whether rates will continue to rise, especially with the Bank of England base rate currently holding at 0.1%. As such, savers looking to get the best rates should consider acting quickly as providers can withdraw or reduce rates at any time.
Topping the notice chart this week with an account available to new customers was Moneycorp Bank, which pays 0.65% gross monthly on its 90 Day Notice Account. This account requires a £10,000 minimum deposit to open and, as well as this, savers must have or open a Deposit Account with Moneycorp Bank for transactional purposes. Further additions are allowed while the issue remains open from a minimum of £10,000. Withdrawals can be made subject to 90 days’ notice. This account must be opened and managed online.
Hanley Economic Building Society had the next-best rate with its Notice 90 account paying 0.55% gross yearly from £25,000, while a higher rate of 0.65% is paid on deposits of £50,000 and a lower rate of 0.35% is paid on deposits at £100. This account, however, has localised opening restrictions. Savers interest in this account can find out more by visiting our notice account chart.
The Best Savings Rates This Week 23 04 21 moneyfacts.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneyfacts.co.uk Daily Mail and Mail on Sunday newspapers.