Bank customers are reminded to ‘watch’ the interest rates on their savings accounts.
Experts from Moneyfactscompare have put together a list of the best savings accounts for this week.
Rachel Springall, financial expert at Moneyfactscompare, provided insight into the current state of affairs in the savings market.
She explains: “The launch of new accounts and rate hikes by challenger banks has caused a stir in the top interest rate tables over the past week, some of which are new market leaders in their respective sectors.
“If savers want to kick-start their savings habit with a regular savings account, seven percent AER is the main top rate for a regular saver from The Co-operative Bank this week.
“The rate increases on various types of savings accounts should encourage consumers to review their accounts and switch if they are not rewarded for their loyalty.”
Best regular savings accounts
Here is a complete list of the best regular savings accounts offered for the week beginning June 10, 2024:
- The Cooperative Bank: seven percent
- Rural BS – 6.50 percent
- NatWest – 6.17 percent
- Royal Bank of Scotland – 6.17 percent
- Principality BS – Six percent
- West Brom BS – Six percent
- TSB – Six percent
- Saffron BS – 5.75 percent
- Principality of BS – 5.50 percent
- Halifax – 5.50 percent.
Best fixed rate savings accounts
Here is a complete list of the best one-year fixed rate savings accounts for the week beginning June 10, 2024:
- National Bank of Egypt (UK) Limited – 5.22 percent
- Ziraat Bank – 5.21 percent
- Al Rayan Bank – 5.20 percent
- Family Building Society – 5.17 percent
- SmartSave – 5.16 percent
- Atom Bank – 5.15 percent
- Vanquis Bank – 5.15 percent
- Union Bank of India (UK) Ltd – 5.15 percent
- Union Bank of India (UK) Ltd – 5.15 percent
- Tandem bank – 5.12 percent.
Best Cash ISAs
Here’s a full list of the best one-year fixed rate cash ISAs for the week starting June 10, 2024:
- Virgin money – 5.05 percent
- Paragon Bank – 4.83 percent
- OakNorth Bank – 4.81 percent
- Castle Trust Bank – 4.81 percent
- Shawbrook Bank – 4.80 percent
- Punjab National Bank (International) Limited – 4.80 percent
- UBL UK – 4.77 percent
- Charter Savings Bank – 4.75 percent
- United Trust Bank – 4.75 percent
- Close Brothers Savings – 4.75 percent.
LATEST DEVELOPMENTS:
The interest on savings has risen in recent years as a result of several interest rate increases
GETTY
Here’s a full list of the best variable rate cash ISAs for the week starting June 10, 2024:
- Trade 212 – 5.20 percent
- Plum – 5.17 percent
- Chip – 5.10 percent
- West Brom BS – 5.10 percent
- Zopa – 5.08 percent
- Newcastle BS – Five percent
- Earl Shilton BS – Five percent
- Charter Savings Bank – 4.97 percent
- Paragon Bank – 4.95 percent
- Kent Reliance – 4.86 percent.
Best easy-to-access savings accounts
Here’s a complete list of the best easy-access savings accounts with no bonus for the week starting June 10, 2024:
- cahoot – 5.20 percent
- Ulster Bank – 5.20 percent
- Oxbury Bank – 5.02 percent
- Monument Bank – 5.01 percent
- Kent Reliance – 4.96 percent
- Oxbury Bank – 4.94 percent
- Charter Savings Bank – 4.93 percent
- Enrich – 4.91 percent
- Paragon Bank – 4.91 percent
- Secure Trust Bank – 4.90 percent.
Here is a complete list of the best easy-access savings with a bonus for the week starting June 10, 2024:
- Pursuit – 5.10 percent
- Cynergy Bank – 4.85 percent
- Principality BS – 4.75 percent
- Post office money – 4.75 percent
- Tesco Bank – 4.66 percent
- Principality BS – 4.60 percent
- Marcus from Goldman Sachs – 4.55 percent
- SAGA – 4.55 percent
- Post office money – 4.10 percent
- Sainsbury’s Bank – Four percent.