Experts are revealing the best savings account interest rates currently on offer this week.
Savings interest rates still remain high with a one-year fixed rate on the market for a competitive 5.80 percent.
Over the past year, savers have benefited from the Bank of England’s decision to raise interest rates.
This has been part of the central bank’s attempt to rein in inflation which has exacerbated the cost of living crisis.
With inflation appearing to ease, the Bank of England has paused its series of hikes to the base rate.
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Many experts have warned that banks and building societies will likely reduce the current rate deals they have on offer.
However, analysts from money.co.uk have outlined the top savings accounts for this week which show that deals continue to be favourable for savers.
Here is a breakdown of this week’s best easy-access and notice savings accounts, fixed-rate bonds and ISAs:
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Easy access savings accounts
Account type |
Product name |
Interest rate |
Easy access |
Paragon Double Access Issue 4 |
5.16% |
Easy Access |
Ulster Bank Loyalty Saver |
5.20% (balances above £5,000) |
Instant access |
Metro Bank Instant Access Savings |
5.22% (limited edition rate) |
Notice savings accounts
Account type |
Product name |
Interest rate |
7-day notice savings account |
Monument Bank 7 Day Notice Account |
5.10% |
14-day notice savings account |
RCI Bank E-Volve Savings 14 Day Notice Account Monthly |
4.80% |
30-day notice savings account |
FirstSave 30 Day Notice Account Monthly |
5.00% |
35-day notice savings account |
Monument Bank 35 Day Notice Account |
5.22% |
60-day notice savings account |
Monument Bank 60 Day Notice Account |
5.41% |
90-day notice savings account |
Beverley 90 Day Notice Branch/Postal Account |
5.50% |
95-day notice savings account |
Hampshire Trust Bank 95 Day Notice Account Issue 14 |
5.51% |
120-day notice savings account |
Earl Shilton Select 120 |
5.70% |
180-day notice savings account |
The Melton Building Society 180 Day Notice Monthly |
5.50% |
200-day notice account |
United Trust Bank 200 Day Notice Deposit (Issue 2) |
5.58% |
Fixed-rate bonds
Account type |
Product name |
Interest rate |
1-year fixed-term |
Metro Bank Fixed Term Savings Account – 1 year |
5.80% |
2-year fixed-term |
Union Bank of India 2 Year Fixed Rate Deposit |
5.70% |
3-year fixed-term |
Hanley Economic Building Society 3 Year Fixed Rate |
5.35% |
4-year fixed-term |
JN Bank 4 Year Fixed Rate |
5.00% |
5-year fixed-term |
JN Bank 5 Year Fixed Rate Bond |
5.00% |
Cash ISAs
Account type |
Product name |
Interest rate |
Instant Access |
Metro Bank Instant Access Cash ISA |
5.11% |
Notice |
Mansfield eSaver 180 Day Notice Cash ISA (1st Issue) |
5.30% |
1-year fixed-term ISA |
Metro Bank 1 Year Fixed Rate Cash ISA |
5.71% |
2-year fixed-term ISA |
Post Office Money Online ISA (2 Year Fixed Rate Cash ISA Issue 43) |
5.15% |
3-year fixed-term ISA |
Secure Trust Bank 3 Year Fixed Rate Cash ISA (04.Jan.27) |
4.86% |
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Savings expert Lucinda O’Brien encouraged bank customers to take advantage of high-interest rates while they still have the chance.
She explained: “Interest rates are remaining fairly stable this week, with Metro Bank still offering the top rate for instant access savings at 5.22 percent.
“However, this is a limited edition rate, so you’ll need to follow some rules to unlock the best rate. In this instance, you’ll need to open a new account and deposit at least £500 within 28 days.
“If you fail to do this, the account offers a standard variable rate of 1.65 percent. Elsewhere, the top rates for fixed-rate accounts are mainly staying above five percent, with Metro Bank’s 1-year fixed account offering a competitive 5.8 percent.”
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