Bonds get a boost

Bank of London and The Middle East (BLME) increased the rates on its four, five and seven-year fixed rate bonds this week. The four-year Premier Deposit Account pays an expected profit rate of 1.70% gross, the five-year Premier Deposit Account pays an expected profit rate of 1.75% gross and the seven-year Premier Deposit Account pays an expected profit rate of 1.80% gross. All of these bonds pay expected profit on anniversary and require a £1,000 minimum deposit to open. As is the case with many fixed bonds, further additions and earlier access are not permitted. The account can be opened online and can then be managed via post. Savers should note that to open one of these accounts they must either have or open a BLME transfer account to hold funds pending investment.

Fixed bonds top charts

United Trust Bank has increased the rates on its three and five-year fixed rate bonds this week, resulting in both accounts topping the chart for their terms. UTB 3 Year Bond pays 1.87% gross on anniversary and UTB 5 Year Bond pays 2.06% gross on anniversary. Both bonds can be opened online with a minimum deposit of £5,000. Further additions and earlier access are not permitted during the term. Once opened, these accounts can be managed online, by phone and via post.

Green saver rate rise

This week, Gatehouse Bank increased the rates on its one-year and 18-month fixed rate bonds. 1 Year Fixed Term Woodland Saver pays an expected profit rate of 1.35% gross on maturity and the 18-month version pays an expected profit rate of 1.51% gross on anniversary. Both bonds require a £1,000 deposit to open and do not allow earlier access or additions. These bonds can be opened and managed online. When one of these Woodland Savers is opened and funded, Gatehouse Bank will plant a tree in a UK woodland project that is certified by the UK Government’s Woodland Carbon Code.

One-year bond increases

Investec Bank plc increased the rate on its one-year fixed rate bond this week. Its one-year Fixed Rate Saver now pays 1.36% gross on maturity. To open this account a £5,000

minimum deposit is needed. While this bond does not allow earlier access, further additions can be made for seven days from the account opening. This bond must be opened and managed online.

Notice account rate rise

This week, Moneycorp Bank increased the rate on its 90-day notice account. From a minimum investment of £10,000, the 90 Day Notice Account pays 1.00% gross monthly. Further additions from a minimum of £10,000 are permitted while the issue remains open. Withdrawals are permitted subject to providing 90 days’ notice. To open this account, savers must either have or open a Deposit Account with Moneycorp Bank for transactional purposes. This account can only be opened and managed online.

Regular saver enters chart

Nationwide Building Society launched a new variable rate regular savings account onto the market this week. Flex Regular Saver pays 2.00% gross on anniversary, provided no more than three withdrawals are made in a 12-month period (a rate of 0.35% will be paid for the rest of the term if four or more withdrawals are made). The account can be opened online or via mobile app with a minimum investment of just £1.

Once opened, the account can also be managed via mobile app or online. There is no minimum that needs to be paid in each month, but the maximum monthly deposit is £200. After 12 months, the account will revert into an instant access savings account. Savers must either have or open a current account with Nationwide Building Society to be eligible for this account.

Fixed ISA rate rise

This week, Hodge Bank increased the rate on its one-year fixed rate cash ISA. 1 Year Fixed Rate Cash ISA now pays a competitive rate of 0.90% gross, which can be paid either on maturity or monthly. Further additions and transfers in are permitted for 10 working days from the account opening, but the minimum transfer in accepted is £1,000. This ISA can be opened online with a minimum deposit of £1,000. Once opened, the account can then be managed online or by phone. Both earlier access and transfers out are permitted, however, this is subject to 90 days’ loss of interest.

Competitive bonds enter charts

SmartSave launched highly competitive two and three-year fixed rate bonds this week. Its 2 Year Fixed Rate Saver pays 1.61% gross on anniversary while the 3 Year Fixed Rate Saver pays 1.83% gross on anniversary. To open these bonds, an opening minimum deposit of £10,000 is needed. Although these bonds do not allow earlier access, further additions are permitted for 14 days from the account opening. They must be opened and managed online.

Easy access account launched

This week Chorley Building Society added a new easy access account to its product range. Easy Access Saver (6 Withdrawals) pays 0.60% gross yearly on a £500 minimum opening deposit. Six withdrawals are permitted per account year, which runs from 1 January to 31 December, if more than six withdrawals are made a lower rate of 0.10% gross will be paid for the remainder of the year. Further additions can be made while the issue remains open. This account can be opened and managed in branch, online and via post.