Savings update: June's best rates

27 June 2018

With interest rates slowly back on the rise, here are some of the best savings and Cash Isa accounts on offer in June 2018.

Post Office has raised the rate on its Easy-Access Internet Saver to a market-leading 1.33% for new savers. But the rate includes a 12-month bonus, after which your rate tumbles to 0.25%. 

Other top rates include the Coventry Building Society Limited Access Saver at 1.3% with a 0.3% bonus for a year. With this account you can only make three withdrawals a year if you want to earn this rate. If you make any more, you face a fee equivalent to 50 days’ interest.  

Shawbrook Bank and RCI Bank also both pay 1.3% with no withdrawal restrictions and no bonus that disappears after a year.

On fixed-rate accounts, Atom Bank pays a top rate of 2.05% for one year. Other good deals include OakNorth at 1.9%, Secure Trust Bank at 1.88% and Masthaven Bank at 1.86%.

If you are willing to tie your money up for two years, the best you can do is 2.16% with Secure Trust Bank.   

On fixed-rate Cash Isas, Charter Savings Bank and Bank of Cyprus top the table with 1.52%, followed by Ford Money and Paragon both at 1.45%.

The top rate for two years is 1.7% from Shawbrook Bank, followed by 1.69% from Charter Savings Bank.

Shawbrook also pays the top rate of 1.3% on Easy-Access Cash Isas. Virgin Money Double Take E-Isa also pays 1.3%, but limits you to just two withdrawals a year.

Savings accounts to beat inflation

Moneywise has found there are 15 savings accounts that currently beat inflation, as well as five regular savings accounts and two current accounts.

This article was first written for our sister magazine Money Observer.

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