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Savings deals of the week, 06 June 2013

Which? experts round up the best savings deals

Hot savings deals image

Which? Money provides its weekly look at the best savings deals currently available to help you deposit your cash in the right account. 

Best notice savings accounts on the market

The Bank of England base rate has remained at an all time low of 0.50% for over four years (the longest hold for 60 years), meaning that savers have continued to suffer with poor interest rates on their savings.

We’ve seen rates on instant access accounts plummet over recent months, but in turn, notice accounts have offered some of the best variable rates available. There are three Best Rate notice accounts (up to 90 days) offering a better rate than the top instant access savings account. 

A rate of 2.26% is the best on offer

The best notice account currently pays 2.26% – 0.56% more than the top-paying instant access account. So, if you’re happy to tie-up your money for 90 days, this Best Rate account from United Bank UK is a worthy option. As savings rates are still unpredictable, we highlight the top notice savings deals for you.

Currently, the 90 Day Notice Deposit account from United Bank UK offers the best notice savings account deal at 2.26% from initial balances of just £1. Aldermore Bank (a Which? Recommended Provider) and Krbs are next with accounts paying 1.75%, both from initial deposits of £1,000. 

If you prefer instant access to your savings, the top account from Derbyshire Building Society currently pays 1.70% but includes a 1.20% bonus payable to 30 June 2014, when the rate reverts to just 0.50%. If you don’t want the worry of introductory bonus rates, the best rate without a bonus is 1.55%.

Find more Best Rate products

  • Best Rate savings accounts – to find the best instant access, notice or fixed-rate savings accounts.
  • Best Rate cash Isas – to find the best tax-free instant access, notice or fixed-rate cash Isa deals.
  • Best Rate credit cards to find the best cards to suit your requirements.
  • Top unsecured personal loans – for borrowing £5,000 over 3-years or £10,000 over 5-years.

And finally… boost your savings

To find out if your savings account is paying a competitive interest rate, check out the Which? Savings Rate Booster tool and switch your account for a better deal if necessary.

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