Shawbrook boosts savers by raising two-year fixed-bond rate

Pound coins

Shawbrook Bank has raised the rate it pays on its taxable two-year fixed rate deal for new savers to 2.3% before tax (1.84% after tax).

The rate puts it ahead of other best buys from State Bank of India at 2.1% (1.68%) and Britannia, part of Co-op Bank, at 2.05% (1.64%).

On one-year fixed-rate bonds the top rate also comes from Shawbrook Bank at 1.85% (1.48%), followed by Britannia at 1.71% (1.37%). State Bank of India pays 1.7% (1.36%), while with Virgin Money and BM Savings the rate is 1.6% (1.28%).

On taxable easy-access accounts the top rate of 1.5% (1.2%) comes from Britannia, followed by Yorkshire Building Society and Coventry Building Society at 1.4% (1.12%). All three limit the number of withdrawals you can make from the account to three or four a year.

Best deals with unlimited access to your account come from Leeds Building Society, Yorkshire Building Society and Virgin Money at 1.25% (1%).

On cash Isas the best deal for transfers comes from BM Savings at 1.65% on a minimum £20,000. Santander pays 1.6% on £1,000 or more. On fixed-rate accounts you can earn 2% with Halifax fixed for 18 months or 2.05% with Halifax and Nationwide for two years.

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This article was written for our sister website Money Observer

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