January 2020: The best savings account rates
We share the best interest rates on ISAs, bonds, and easy-access savings accounts.
22nd January 2020 11:20
by Sylvia Morris from interactive investor
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We share the best interest rates on ISAs, bonds, and easy-access savings accounts.
Top rates on easy access accounts for new savers continue to fall, or else disappear completely, following the rate cut on Goldman Sachs’s Marcus account to 1.35%.
This week, Ford Money has withdrawn its Flexible Saver rate of 1.35% from sale. The Shawbrook Bank rate is down from 1.41% to 1.33%, while Cynergy Bank has cut its rate for new savers to 1.31%.
The Marcus 1.35% rate, with no initial bonus and no withdrawal restrictions, is the top-paying online account.
On fixed-rate bonds, you can earn 1.66% via a new account offered by online bank SmartSave. Both Atom Bank and Secure Trust Bank pay a whisker less at 1.65%.
For two years, the Swedish-owned bank Ikano pays the best rate at 1.8%, followed by Masthaven and Atom banks, both at 1.75%.
When it comes to easy-access cash ISAs, the top rate is available via Cynergy Bank, at 1.31%, followed by Ford Money at 1.27%.
Leeds Building Society pays 1.3% on its Double Access Cash ISA, but savers are limited to two withdrawals a year. The society also pays 1.3% on its Limited Issue Online Access ISA, which has no withdrawal restrictions. However, the account runs only until February next year, following which your money is transferred into an online instant access cash ISA maturity account.
For fixed-rate cash ISAs, the best one-year rate is 1.4%, which is available from Secure Trust, Metro Bank, Cynergy Bank and Loughborough Building Society.
If you are willing to tie up your money for two years, Metro Bank offers a top rate of 1.6%, while Cynergy Bank pays 1.5%.
Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article.
This article was originally published in our sister magazine Money Observer, which ceased publication in August 2020.
These articles are provided for information purposes only. Occasionally, an opinion about whether to buy or sell a specific investment may be provided by third parties. The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.
Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article.
These articles are provided for information purposes only. Occasionally, an opinion about whether to buy or sell a specific investment may be provided by third parties. The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.
Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article.