Full list of this week’s best savings accounts
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Britons could benefit from interest rates of up to 6.10 percent on must-have savings accounts.
Experts from Money.co.uk have compiled a list of the top savings products for the week beginning August 21.
Savers are anxiously looking for the best rates to help mitigate the impact of inflation on peoples’ returns on savings.
Included in the list is a breakdown of the top instant and notice savings accounts, as well as an analysis of the best fixed-rate bonds and ISAs.
Here is a full list of the best savings accounts in the UK this week, according to Money.co.uk:
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Instant and easy access savings accounts
Beehive Money Bonus Saver August 2024
Furness Building Society Triple Access Saver (Issue 1)
Notice savings accounts
Seven-day notice savings account
Zopa Smart Saver (Boosted Pot – Seven-Day Notice)
14-day notice savings account
RCI Bank E-Volve Savings 14-Day Notice Account Monthly
30-day notice savings account
Dudley Building Society 30 Day Notice
60-day notice savings account
The West Brom WeBSave 60-Day Notice Account
90-day notice savings account
Oxbury Personal 90-Day Notice Account – Issue nine
120-day notice savings account
Earl Shilton Select 120 Monthly
Allica Bank 6 Month Fixed Term Savings Account (Issue 19)
SmartSave 1 Year Fixed Rate Saver
Ford Money Fixed Saver 18 Month Monthly
Recognise Bank Two Year Fixed Rate Account
Paragon Double Access ISA (Issue 1)
Loughborough 180-Day Notice Cash ISA
One-year fixed-term ISA
UBL UK 1 Year Fixed Rate Cash ISA
Recently, banks and building societies have raised interest rates on savings products following intervention from the Bank of England in regard to the base rate.
As it stands, the central bank’s base rate is at 5.25 percent and is expected to rise even further in the months ahead.
This is due to the Bank’s ongoing mission to rein in inflation which has contributed to the UK’s cost of living crisis.
Lucinda O’Brien, Money.co.uk’s savings expert, broke down which accounts savers should be particularly looking at.
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She explained: “Interest rates on easy access accounts continue to rise with a provider offering five percent.
“Furness Building Society Triple Access Saver is the owner of this competitive interest rate and the account can be opened with just £1, with interest paid yearly.
“However, there is a catch as this account only offers three withdrawals per year, so it might not be the best option if you want to access your money whenever you wish.
“Alternatively, Beehive Money Bonus Saver is close behind with 4.9 percent as it includes a bonus rate of 2.25 percent until the end of August next year. This savings account needs a minimum deposit of £1,000 to open it but it has more flexibility with unlimited withdrawals.”
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