Easy-access savings rates are inching up.
Kent Reliance has launched a new issue of its Easy Access account paying a top 1.37%. It is available online and through its branches. Coventry Building Society pays a slightly higher 1.4% on its Limited Access Saver but that includes a 0.25 percentage point bonus payable for the first year and limits you to making three free withdrawals every 12 months.
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On fixed rate bonds, the top rate is currently 2.02% from ICICI Bank, followed by Charter Savings Bank and Oaknorth Bank, both at 2.01%. Atom, Investec, Tandem and Zenith banks all pay 2%.
For 18 months you can earn marginally more with the 2.11% from Charter Savings Bank, while the best two-year rate is 2.25% from Investec, PCF and Tandem banks.
On easy-access Cash Isas the best rate comes from Virgin Money’s Double Take E-Isa at 1.36%, but you are limited to making two withdrawals a year. This is followed by Yorkshire Building Society with its Single Access Isa at 1.35% which restricts you to making withdrawals on just one day in a year – and you are moved into a lower paying account after the first 12 months.
The top rate with no withdrawal restrictions is Shawbrook Bank Easy Access Cash Isa 4 at 1.3%.
On fixed rate cash Isas, Paragon Bank pays 1.55%, Bank of Cyprus 1.55% with Shawbrook Bank at 1.51%.
The best two-year rate is 1.75% from Shawbrook Bank, followed by 1.71% from Charter Savings Bank.
This article was originally published in our sister magazine Moneywise, which ceased publication in August 2020.
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