Savings update: More savings accounts to match Goldman Sachs

Published by Sylvia Morris on 05 December 2018.
Last updated on 05 December 2018

Savings

Rates on easy-access accounts are floating upwards.

Virgin Money has launched its Double Take E-Saver at 1.5%, matching the Goldman Sachs’s Marcus Savings Account.

West Bromwich new Double Access account, out this week, also pays 1.5%. Last week Kent Reliance raised the rate on its Easy Access account to 1.5%.

But both Virgin and West Bromwich limit you to making just two withdrawals a year from your account, while the Marcus rate includes a 0.15 percentage point bonus for the first year you are in the account.

Kent Reliance comes with no bonus. Nor does it restrict the number of times you take money from your account. 

On fixed rate bonds the top one-year rate is 2.05% on offer from Atom, Tandem Bank and Investec banks.

For two years Investec pays 2.35% and Atom and Tandem a slightly lower 2.3%.  

On tax-free cash Isas, Virgin Money has raised the rate on its easy-access Double Take E-Isa to a top 1.45% for new customers.  To earn this, you can only take money out of your account twice a year.

The best rate with no withdrawal restrictions comes from Charter Savings Bank at 1.31%.

On fixed-rate cash Isas, Shawbrook Bank pays a top 1.65% for 12 months, followed by Charter Savings Bank at 1.6%. For two years you can earn 1.82% with Shawbrook, Paragon and Cynergy banks.

This article first appeared on our sister website Money Observer

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