Interactive Investor

Savings update: Kent Reliance launch top-rate easy access account

18th September 2018 12:56

Sylvia Morris from interactive investor

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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.

  • Low earners to get 50% savings bonus with Help to Save scheme

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.

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.

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