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This months’s top savings accounts

This months’s top savings accounts

October 2023


Savings rates have remained strong this month despite the base rate being held and the best easy-access ISA even increased to 4.90%.





For the first time in almost two years the Bank of England (BoE) held rates at 5.25% last week but savers still have some competitive options to choose from.

They can still open a fixed-rate savings account paying 6.20% from National Savings and Investments (NS&I) or a fixed-rate ISA from Virgin Money paying 5.85%, for example.


The top savings accounts of the month

This week’s best easy-access savings account is the Chorley Building Society North West Easy Access Saver (1 Withdrawal), yet as the name suggests it only allows one withdrawal before the rate drops. It pays 5.20% on a minimum opening deposit of £1,000.


There’s also the Coventry BS Triple Access Saver (Online) which also pays 5.20% and allows three withdrawals before the rate drops. It can be opened with £1. Or for an account with no withdrawal restrictions, there’s the Ulster Bank Loyalty Saver which also pays 5.20% and has no minimum deposit amount.


If you’re looking to fix your savings, the best one-year fixed-rate account this month is still the NS&I Guaranteed Growth Bonds Issue 72 which pays 6.20% on a minimum of £500.


The top easy-access cash ISAs

Provider

Notice

Rate

Conditions

Available

Coventry BS Four Access ISA (Online)

Easy Access (Limited)

4.90%

Minimum opening balance £1

Online

Shawbrook Bank's Easy Access Cash ISA - Issue 25

Easy Access

4.81%

Minimum opening balance £1,000

Online/ Telephone

Chorley Building Society's Easy Access Cash ISA (1 Withdrawal)

Easy Access (Limited)

4.80%

Minimum opening balance £1

Online/ Branch/Post

Leeds BS's Limited Issue Online Access ISA (Issue 65)

Easy Access

4.80%

Minimum opening balance £1,000

Online


1. Coventry BS Four Access ISA (Online): Paying at 4.90%, It's this month’s top account for easy access ISAs. However, only four withdrawals are allowed before the rate drops so it’s not completely easy access. It can be opened and managed online and it has a minimum opening deposit of £1.


2. Shawbrook Bank’s Easy Access Cash ISA – Issue 25: Paying 4.81% on a minimum of £1,000 this account can be opened online and there are no withdrawal restrictions.

3. Chorley Building Society’s Easy Access Cash ISA (1 Withdrawal): Only allowing one withdrawal, this ISA pays 4.80% on a minimum opening deposit of £1.

4. Leeds BS’ Limited Issue Online Access ISA (Issue 65): Paying 4.80% this account can be opened with £1,000.


This month's top notice accounts

Provider

Notice

Rate

Conditions

Available

Chorley Building Society

150 Day Notice

5.05%

Minimum opening balance £1

Online

Aldermore

30 Day Notice

4.55%

​Minimum opening balance £1,000

Online

1. Chorley Building Society 150 Day Notice Cash ISA,- Paying 5.05% it's the market-leading notice account this month which can be opened with £1.


2. Aldermore - 30 Day Notice Account - This is the best account with a shorter notice period which can be opened. with £1,000.


This month’s top fixed-rate cash ISAs

Provider

Notice

Rate

Conditions

Availability

Virgin Money

1 Year Fixed

5.85%

No minimum deposit

Online/Branch

Charter Savings Banks

1 Year Fixed

5.78%

Minimum opening investment of £5,000

Online

UBL UK 1 Year Fixed Rate Cash ISA

1 Year Fixed

5.77%

Minimum opening balance of £2,000

Online/Branch/Post

1. Virgin Money 1 Year Fixed Rate Cash ISA Exclusive Issue 6 - At 5.85% this is the market leader this month . It has no minimum deposit and withdrawals will result in a 60-day loss of interest penalty.


2. Charter Savings Banks 1 Year Fixed Rate Cash ISA - Paying 5.78%, this online account has a minimum opening amount of £5,000. Early access will result in a 90-day loss of interest penalty.


3. UBL UK 1 Year Fixed Rate Cash ISA - Paying 5.77% this account can be opened with £2,000. Early access will result in a 90-day loss of interest penalty.



The information contained in this article is for information purposes only and do not constitute financial advice or a recommendation.

The interest rates and accounts shown are subject to change at any time and there may be other accounts available with higher rates or that more suitable which we have not identified or shown.




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