Kent Reliance raises top-paying savings rates

Published by Sylvia Morris on 29 July 2014.
Last updated on 29 July 2014

Piggy banks

Some savings rates have started to edge up, with Kent Reliance now paying a top 2.1% before tax (1.61% after tax) fixed for one year.

The next best deal is 1.95% (1.56%) from Investec Bank.

Kent Reliance is also raising its two-year deal to a top 2.3% (1.84%). Investec Bank also pays 2.3% (1.84%) for two years.

On easy-access accounts West Bromwich has a new WebSaver Limited Access launching today (29 July) at 1.4% (1.12%), but you are limited to three free withdrawals a year.

BM Savings new Online Extra 12 pays 1.31% (1.05%), including a bonus but with no withdrawal restrictions.

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Cash Isas

The rate drops to 0.5% (0.4%) once you have been in the account for a year. Best deals with no bonus and no withdrawal restrictions come from Virgin Money Easy Access and Sainsbury's Bank e-Saver, both at 1.3% (1.04%).

The top easy-access tax-free cash Isa rate is 1.6% from Cheshire and Derbyshire building societies, but you cannot transfer your existing cash Isas into these accounts.

For transfers you can earn 1.55% with BM Savings Extra Isa 11. But the rate includes a bonus and drops to 0.5% after you have been in the account for 12 months.

Kent Reliance also pays 1.55% and the rate is not boosted by a bonus. Other good deals with no bonus include Nationwide Instant Isa Saver and Virgin Money Easy Access Cash Isa, both at 1.5%.

West Bromwich Building Society is raising the rate on its WebSaver Isa to 1.5% for new and existing savers on 1 August.

On fixed-rate cash Isas, top rates include 1.75% from Kent Reliance and 1.65% from Tesco Bank, both fixed for one year. For two years you can earn 2.1% with Kent Reliance or 2.05% with Nationwide.

This article was written for our sister website Money Observer

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