Bank customers are being reminded to “review” the interest rates associated with their savings accounts.
The experts at Moneyfactscompare have compiled this week’s list of the best savings accounts.
Rachel Springall, financial expert at Moneyfactscompare, provided an insight into the current state of the savings market.
She explained: “New account launches and rate hikes by challenger banks have 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 are looking to kick-start the savings habit with a regular savings account, seven per cent AER is the highest regular saver rate from The Co-operative Bank this week.
“Rising rates on different types of savings accounts should encourage consumers to review and switch their account if they are not being rewarded for their loyalty.”
The best current savings accounts
Here’s the full list of the best current savings accounts on offer for the week of June 10, 2024:
- Cooperative Bank – Seven percent
- Nationwide BS – 6.50 percent
- NatWest – 6.17 per cent
- Royal Bank of Scotland – 6.17 percent
- Principality of BS – Six percent
- West Brom BS – Six percent
- TSB – Six percent
- Saffron BS – 5.75 percent
- BS Principality – 5.50 percent
- Halifax – 5.50 percent.
The best fixed rate savings accounts
Here’s the full list of the best one-year fixed rate savings accounts for the week starting 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.
The best cash ISA
Here’s the full list of the best one-year fixed rate cash ISAs for the week starting 10 June 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:
Interest rates on savings have risen over the past few years thanks to multiple rate hikes
GETTY
Here’s the full list of the best variable rate cash ISAs for the week starting 10 June 2024:
- Trading 212 – 5.20 percent
- Plum – 5.17 percent
- Chip – 5.10 percent
- West Brom BS – 5.10 per cent
- Zopa – 5.08 percent
- Newcastle BS – five per cent
- Earl Shilton BS – Five percent
- Charter savings bank – 4.97 percent
- Paragon Bank – 4.95 percent
- Kent Reliance – 4.86 percent.
The best savings accounts with easy access
Here is the full list of the best easy access savings accounts with no bonus attached for the week starting June 10, 2024:
- cahoot – 5.20 percent
- Ulster Bank – 5.20 per cent
- 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
- Get rich – 4.91 percent
- Paragon Bank – 4.91 percent
- Secure Trust Bank – 4.90 percent.
Here’s a full list of the best easy access bonus savings for the week starting June 10, 2024:
- Chase – 5.10 percent
- Cynergy Bank – 4.85 percent
- BS Principality – 4.75 percent
- Postal money – 4.75 percent
- Tesco Bank – 4.66 percent
- BS Principality – 4.60 percent
- Marcus from Goldman Sachs – 4.55 percent
- SAGA – 4.55 percent
- Postal money – 4.10 percent
- Sainsbury’s Bank – four per cent.