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Featured - Account Types
What type of savings account do you need?Find out about the different types of savings accounts available to suit a variety of needs.
Savings
ISAs
Residential
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Specialist mortgages
Featured - Debt and your credit score
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Current accounts
Featured - Purchase Cards
Best purchase credit cardsExplore the best cards with a 0% introductory period.
Credit cards
Credit repair
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Business products
Business insurance
How much can I give as a cash gift?
How much can I give as a cash gift?Will your loved one's gift be tax affected?
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Its one year fixed rate bond now offers 6.20% AER, the best rate on the market.
The Government-backed National Savings & Investments (NS&I) made several rate increases to its Guaranteed Growth Bond range today.
These are fixed rate bonds, and its one year fixed savings account now offers a market-leading 6.20% AER. In comparison, the next best rate on the market comes from Habib Bank Zurich at 6.03% AER.
Last updated: 09/02/2024
Account: NS&I Guaranteed Growth Bonds Issue 72
Term: One year
Rate: 6.20% AER
Andrew Griffith, Economic Secretary to the Treasury, said that the Guaranteed Growth Bonds now offer the highest returns since the range was launched.
“It’s vital that savers are able to benefit from recent interest rate rises, so I’m delighted that NS&I is releasing new Issues of Guaranteed Growth Bonds and Guaranteed Investment Bonds at over 6%,” he said.
In addition to its one year fixed rate savings account, the NS&I upped the return on its five year fixed deal to 5.5% AER.
Unlike its one year counterpart, there are better rates in this sector. Recognise Bank currently tops the charts at 5.75% AER, with an offer that pays its interest monthly or on anniversary.
This means it can accommodate those who wish to use their savings to support their regular income and those who want to benefit from compound interest.
RCI Bank UK and the Bank of London and The Middle East (BLME) also offer rates of 5.65% AER and 5.60% AER respectively.
While deposits with the NS&I aren’t protected under the Financial Services Compensation Scheme (FSCS), they are 100% backed by HM Treasury.
This could provide an additional level of cover for some savers, especially since the FSCS only protects savings up to £85,000 per provider.
Meanwhile, the Guaranteed Growth Bonds accept deposits between £500 and £1 million per person.
The NS&I also made increases to its two and three year fixed rate bonds today.
These can all be compared in more detail on our charts, which rank the best rates across the savings market.
In addition to interest, users can also compare fixed terms and internet banking facilities, among other options.
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Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time. Links to third parties on this page are paid for by the third party. You can find out more about the individual products by visiting their site. Moneyfactscompare.co.uk will receive a small payment if you use their services after you click through to their site. All information is subject to change without notice. Please check all terms before making any decisions. This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.
Each week the Moneyfactscompare.co.uk content team round up and discuss the very best savings rates available in the UK. Compare and apply today.
The top rate for a two-year bond edges higher as leading notice returns dip below 5%.
The Moneyfacts Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market.
This week's selection includes a one-year bond from new savings provider Vida Savings, and a 85% LTV two-year fixed mortgage from HSBC.
Each week the Moneyfactscompare.co.uk content team round up and discuss the very best ISA rates available in the UK. Compare and apply today.
With savers depositing £3.1 billion in ISAs in October, make sure your hard-earned cash is receiving competitive returns.
Each week the Moneyfactscompare.co.uk content team round up and discuss the very best savings rates available in the UK. Compare and apply today.
The top rate for a two-year bond edges higher as leading notice returns dip below 5%.
The Moneyfacts Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market.
This week's selection includes a one-year bond from new savings provider Vida Savings, and a 85% LTV two-year fixed mortgage from HSBC.
Each week the Moneyfactscompare.co.uk content team round up and discuss the very best ISA rates available in the UK. Compare and apply today.
With savers depositing £3.1 billion in ISAs in October, make sure your hard-earned cash is receiving competitive returns.
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Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.