March 2020: what are the best savings account rates?

We share the best interest rates on Isas, bonds, and easy-access savings accounts.

Banks and building societies have been busy withdrawing accounts, or cutting rates following the second base rate cut this month.

The Bank of England base rate is now at a historic low of just 0.1%, down from 0.75% at the start of March. 

- Savings rates: sign up to our newsletter to keep abreast of the latest rates

Fixed-rate bonds and cash Isas are first in line for cuts, but current top-paying easy-access rates will inevitably follow them down in the next couple of weeks.

Savers looking to the safety of a fixed-rate bond to shield themselves from further imminent cuts can earn 1.57% fixed for one year with OakNorth Bank. Hampshire Trust Bank, United Trust Bank and Investec Bank all pay 1.55%, and Charter Savings Bank 1.51%.

For two years, the top rate is 1.66% from OakNorth, with RCI Bank and United Trust Bank close behind at 1.65%.

On fixed-rate cash Isas, rates are lower with the best one-year rate at 1.36% via Virgin Money, followed by Paragon, Shawbrook, Charter Savings Bank, Kent Reliance and Hampshire Trust Bank all paying 1.35%. For two years, Charter Savings Bank is paying 1.46% with Paragon, Shawbrook and Kent Reliance offering 1.45%. 

On easy-access cash Isas, Virgin Money is still paying 1.31% on its Double Take e-Isa which restricts you to two withdrawals a year. Coventry Building Society pays 1.25% on its Easy Access Isa Online.

On taxable easy-access accounts, the best rate is currently 1.31% via the Virgin Money Double Take account, which limits you to two withdrawals a year. Marcus at Goldman Sachs still pays 1.3%.

These easy-access accounts and easy-access cash Isas have not been cut since the base rate fell from 0.75%.

Subscribe to Money Observer Magazine

Be the first to receive expert investment news and analysis of shares, funds, regions and strategies we expect to deliver top returns, plus free access to the digital issues on your desktop or via the Money Observer App.

Subscribe now

Comments

Excellent Website

I've just come across your website and was pleasantly surprised at the straight forward, no frills, information provided with regard to easy access savings accounts. Well done and thank you.

Website

Really helpful and quick to access the information I was seeking. Thank you

Marcus 1.5% - Review & Renew Bonus

If you have a Marcus account that is nearing the end of its bonus period it is possible to reset it for another year. Just go to Account Activity Details and scroll down past all the transactions to the 'Review your savings' link.

Add new comment