Top savings rates continue to fall

Published by Sylvia Morris on 18 February 2014.
Last updated on 18 February 2014

Pound coins

Banks continue to pare rates on offer to new savers. This week Kent Reliance will cut the 1.45% before tax (1.16% after) it pays on its Easy Access account to 1.35% (1.08%).  The fall follows hot on the heels of Virgin Money’s cut to 1.25% (1%) on its Access Saver account.

The top easy access deal that you can run on the internet pays 1.36% (1.09%) from National Counties Building Society. On branch-based accounts Britannia, part of Co-op Bank pays 1.5% (1.2%) but you are limited to making a maximum four withdrawals a year.

On fixed rate bonds the top one-year deal comes from Post Office at 1.8% (1.44%) followed by National Counties at 1.76% (1.41%). Yorkshire Building Society pays a top 2% (1.5%) for 18 months while with Post Office your money earns 2.25% (1.8%).

Cash Isas

On cash Isas the best easy-access rate comes from Britannia at 1.75% tax-free and you can transfer your existing cash Isas into this account. The top one-year fixed rate deal through branches and over the telephone comes from Britannia at 1.85%. You can earn 2% fixed for 18 months with Yorkshire Building Society or 2.1% fixed for two years with National Counties.

Find the best cash Isa or savings account for you

This article was written for our sister website Money Observer

More About

Leave a comment