Bank customers are being reminded to “review” the interest rates attached to their savings accounts.
Experts from Moneyfactscompare have compiled a list of the best savings accounts for this week.
Rachel Springall, a finance expert at Moneyfactscompare, gave insight into the current state of the savings market.
She explained: “The launch of new accounts and rate increases by challenger banks has caused a stir in the top rate tables over the past week, some of which are new market leaders in their respective sectors.
“If savers wish to kick-start the savings habit with a regular savings account, seven per cent AER is the leading top rate from a regular saver from The Co-operative Bank this week.
“The rate increases on various types of savings accounts should encourage consumers to review and switch their account if they are not being rewarded for their loyalty.”
Best regular savings accounts
Here is a full list of the best regular savings accounts on offer for the week beginning June 10, 2024:
- The Co-operative Bank – Seven per cent
- Nationwide BS – 6.50 per cent
- NatWest – 6.17 per cent
- Royal Bank of Scotland – 6.17 per cent
- Principality BS – Six per cent
- West Brom BS – Six per cent
- TSB – Six per cent
- Saffron BS – 5.75 per cent
- Principality BS – 5.50 per cent
- Halifax – 5.50 per cent.
Best fixed-rate savings accounts
Here is a full list of the best savings accounts with a one-year fixed rate for the week beginning June 10, 2024:
- National Bank of Egypt (UK) Limited – 5.22 per cent
- Ziraat Bank – 5.21 per cent
- Al Rayan Bank – 5.20 per cent
- Family Building Society – 5.17 per cent
- SmartSave – 5.16 per cent
- Atom Bank – 5.15 per cent
- Vanquis Bank – 5.15 per cent
- Union Bank of India (UK) Ltd – 5.15 per cent
- Union Bank of India (UK) Ltd – 5.15 per cent
- Tandem Bank – 5.12 per cent.
Best cash ISAs
Here is a full list of the best cash ISAs with a one-year fixed rate attached for the week beginning June 10, 2024:
- Virgin Money – 5.05 per cent
- Paragon Bank – 4.83 per cent
- OakNorth Bank – 4.81 per cent
- Castle Trust Bank – 4.81 per cent
- Shawbrook Bank – 4.80 per cent
- Punjab National Bank (International) Limited – 4.80 per cent
- UBL UK – 4.77 per cent
- Charter Savings Bank – 4.75 per cent
- United Trust Bank – 4.75 per cent
- Close Brothers Savings – 4.75 per cent.
LATEST DEVELOPMENTS:
Interest rates on savings have been rising in the last couple of years amid multiple rate hikes
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Here is a full list of the best cash ISAs with a variable rate attached for the week beginning June 10, 2024:
- Trading 212 – 5.20 per cent
- Plum – 5.17 per cent
- Chip – 5.10 per cent
- West Brom BS – 5.10 per cent
- Zopa – 5.08 per cent
- Newcastle BS – Five per cent
- Earl Shilton BS – Five per cent
- Charter Savings Bank – 4.97 per cent
- Paragon Bank – 4.95 per cent
- Kent Reliance – 4.86 per cent.
Best easy-access savings accounts
Here is a full list of the best easy-access savings accounts without a bonus attached for the week beginning June 10, 2024:
- cahoot – 5.20 per cent
- Ulster Bank – 5.20 per cent
- Oxbury Bank – 5.02 per cent
- Monument Bank – 5.01 per cent
- Kent Reliance – 4.96 per cent
- Oxbury Bank – 4.94 per cent
- Charter Savings Bank – 4.93 per cent
- Wealthify – 4.91 per cent
- Paragon Bank – 4.91 per cent
- Secure Trust Bank – 4.90 per cent.
Here is a full list of the best easy-access savings with a bonus attached for the week beginning June 10, 2024:
- Chase – 5.10 per cent
- Cynergy Bank – 4.85 per cent
- Principality BS – 4.75 per cent
- Post Office Money – 4.75 per cent
- Tesco Bank – 4.66 per cent
- Principality BS – 4.60 per cent
- Marcus by Goldman Sachs – 4.55 per cent
- SAGA – 4.55 per cent
- Post Office Money – 4.10 per cent
- Sainsbury’s Bank – Four per cent.