Savings rates have been slowly picking up in 2021 and continue to edge higher week by week as competition between providers intensifies.
With lenders trying to keep pace with the surging demand for mortgages, savings interest rates keep improving, great news for savers who have had a rough ride in recent years.
If you look at fixed rate bonds rates for example, in some cases, you can now get an extra 0.40% on your rate compared with just three months ago.
However, don’t expect to see the big high street banks increasing rates anytime soon, the latest mini rate war is driven by agile, hungry competitive providers, including the likes of Investec Bank, Zopa, Hodge Bank, Hampshire Trust Bank and Tandem Bank – all are covered by the Financial Services Compensation Scheme (FSCS).
As we come out of lockdown and things slowly return to a new normal, hopefully we’ll see this turn in fortunes for savers continue well into the latter part of 2021.
Here’s a run down of the latest best buy easy access and fixed rate bond deals as of this morning 23rd August 2021
- Easy Access – Hampshire Trust Bank – Online Easy Access (Issue 4) – 0.60%
- Easy Access – Investec Bank – Online Flexi Saver – 0.58%
- 1 Year Fixed Rate – Tandem Bank – 1.35%
- 1 Year Fixed Rate – Investec Bank– 1.33%
- 2 Year Fixed Rate – Hodge Bank – 1.50%
- 2 Year Fixed Rate – Zopa – 1.47%
- 3 Year Fixed Rate – Hodge Bank – 1.60%
- 5 Year Fixed Rate – Hodge Bank – 1.70%