With interest rates slowly back on the rise, we examine the best savings accounts and Isa accounts on offer in 2019.
Virgin Money has cut the rate on its easy-access cash Isa for new customers. The new version of its Double Take E-Isa pays 1.43%, down from 1.5%. Customers are limited to two withdrawals a year.
The best easy-access rate of 1.44% is on offer through a new account with OakNorth Bank, followed by Shawbrook Bank at 1.43%.
On fixed-rate cash Isas, you can earn 1.61% through Cynergy Bank, or 1.6% with Paragon Bank, for one year. The best two-year rate is available through AA Savings paying 1.8%, followed by OakNorth Bank at 1.77%.
In terms of easy-access taxable accounts, Virgin Money still pays 1.5% on its Double Take E-Saver to new customers. This top rate is also available through Goldman Sachs’ Marcus account, and Cynergy Bank.
However, they all come with catches. The Marcus account has a 0.15 percentage point bonus, payable for 12 months, built into the rate. At Cynergy, the bonus is 0.75 points for the first year only. Virgin Money’s Double Take E-Saver has no bonus, but you can withdraw money only twice a year.
The best rate with no bonus or withdrawal restrictions is Shawbrook Bank’s new Easy Access account, which pays 1.48%.
On taxable fixed-rate bonds, Metro Bank pays 2% for one year, SmartSave Bank 1.95%, and OakNorth 1.93%.
For two years, Axis Bank pays 2.2% via the savings platform Raisin UK. The next best rate is 2.1% through OakNorth or Masthaven banks.
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