Savers could get up to 4.53% with ‘enticing’ offer

Experts from have laid out the “pick of the week” when it comes to the best savings accounts in the UK. With many high street providers raising their interest rates recently, many savers could stand to benefit.

Finance expert Rachel Springall has unpacked some of the best deals, alongside the perks they provide.

The first savings account is made available through OakNorth Bank via its 120 Day Notice Savings Account.

The provider has increased rates on a selection of its Notice Savings Accounts recently.

This includes its 120 day option, now paying an interest rate of 3.64 percent gross and Moneyfacts has given it an “excellent” product rating.

The minimum opening amount is £1, with the maximum investment amount at £500,000.

Savers can apply from the age of 18, and there is a joint account option available.

Another attractive savings account is from Cynergy Bank, with its Online ISA (Issue 34) account.

This is a new offer from the provider which is grabbing the attention of savers.

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Ms Springall explained: “Cynergy Bank has launched a new issue of its Online ISA which pays a rate 0.08 percent higher than its predecessor.

“Paying 3.28 percent, the deal takes a prominent position within its sector and offers savers complete flexibility with their ISA cash.

“Savers will also be able to make cash ISA transfers into this account upon opening or they can invest with as little as £1. Overall, the account earns an Excellent Moneyfacts product rating.”

There is no notice or term on this account, and Britons can save anywhere between £1 and the maximum ISA allowance.

Access is permitted via a nominated account, and transfers in are permitted, but on account opening only.

The third account to be highlighted is the One Year Fixed Rate Cash ISA from Close Brothers Savings.

This account offers 4.17 percent, with the deal taking a “competitive position” within its sector, according to Ms Springall.

It is likely to attract savers who are planning to utilise their tax-free ISA allowance.

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Access is subject to a 90-day loss of interest penalty, but further additions are permitted for 10 days from the account opening.

The minimum applicant age is 18, and the account can be secured online or by post.

The final savings deal highlighted by Moneyfactscompare is the Two Year Fixed Rate Bond from Hodge Bank, an option which is likely to be “enticing”, according to the expert.

Ms Springall said: “Now paying 4.53 percent, the deal may appeal to savers looking for a competitive return over the next two years and happy to lock their money away for the duration.

“The monthly interest option may also entice those looking to supplement their income. Savers will need to invest at least £1,000, but the account does allow further additions within the first 10 working days of account opening.

“Overall, the deal earns an Excellent Moneyfacts product rating.”

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