Savers received more good news this week as Secure Trust Bank launched a new fixed rate bond account with the highest interest rate. The account could be an option for anyone with a minimum investment of £1,000 who can afford to lock in their savings for at least two years.
A new savings account has just hit the market and it offers one of the best interest rates available for people with large savings.
Commenting on the transaction, Rachel Springall, finance expert at Moneyfacts.co.uksaid: “Secure Trust Bank launched new fixed bonds this week, including a two-year option.
“Paying a rate of 4.85%, the deal takes a bigger place in the market compared to its peers and can be opened from £1,000 and further additions can be made within the first 30 days following opening the account.
“Savers looking to earn an attractive rate over the next couple of years may then find this option appealing. The account guarantees an Excellent Moneyfacts product rating.”
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With record inflation eating away at people’s savings, there’s never been a more important time for Brits to make sure they get a good rate.
James Haynes, Branch Manager at A-Plan Insurance, said people should do their research before choosing an account that’s right for them.
He said: “As insurance brokers, we always try to help people protect themselves against the risks inherent in everyday life.
“A savings account does just that by providing a buffer for those who find themselves in financial difficulty. Having and using a savings account can provide the peace of mind of a little extra cash tucked away in case of an emergency. emergency.”
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He continued, “With inflation, higher interest rates, higher energy bills and rising house prices, getting on the real estate ladder is harder than ever.
“Different savings accounts offer different interest rates and it’s important to do your research on which ones offer the best return.”
For those tying up their savings for two years isn’t an option, Atom Bank has launched a nine-month fixed rate savings product with a capped rate.
Atom Bank’s new Fixed Saver Account has been launched to provide people with more choice and flexibility in today’s market and is offered with an attractive rate of 3.95% AER.
Tandem Bank’s Instant Access Saver has been named one of the best easy access savings accounts today.
Offering an interest rate of 2.55% on savings of up to £250,000, this account allows unlimited withdrawals.
There is no minimum deposit required to open this account and interest can be earned up to £250,000.
Meanwhile, Al Rayan Bank’s Everyday Saver offers an interest rate of 2.81% but requires a minimum deposit of £5,000.