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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
Buy to let
Specialist mortgages
Featured - Debt and your credit score
How debt impacts your credit scoreA healthy credit score has its benefits, so make sure you manage your debt correctly.
Loans
Featured - Life Insurance
Life InsuranceFor peace of mind that your loved ones will be supported financially after you die, consider taking our life insurance. Find out more and compare policies.
Home & vehicle
Health & travel
Featured - High interest current accounts
Find current accounts offering in-credit interest rates up to 5.00% AER.
Current accounts
Featured - Purchase Cards
Best purchase credit cardsExplore the best cards with a 0% introductory period.
Credit cards
Credit repair
Calculators & guides
Business savings
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?
Categories
Featured guides
Popular news
Latest news - by category
Other money & finance news
Featured Star Ratings categories
Other Star Ratings categories
The gap between one- and five-year bonds now stands at 0.30 percentage points.
Rates for leading short-term fixed bonds rose month-on-month, according to data from Moneyfactscompare.co.uk, widening the gap between their longer-term counterparts.
As of the 1 July 2024, the top one-year bond was at 5.25% while the leading five-year fixed rate stood at 4.95%.
This sees the gap widen from 0.27 percentage points the previous month, when one- and five-year terms paid returns of 5.22% and 4.95% respectively.
The leading two-year deposit also saw an increase, while three-year terms remained steady; four-year bonds meanwhile, observed a decline in top rates.
“The rise and falls of fixed bond rates have been evident over the past couple of years, making it a challenging environment for savers unsure whether to lock their cash into a deal or for how long,” explained Rachel Springall, Finance Expert at Moneyfactscompare.co.uk.
“Just because the top rates move, does not necessarily mean the whole market is moving in a similar trajectory, so savers need to compare deals carefully,” Springall continued.
Traditionally, the longer you committed to locking away your hard-earned cash, the higher the interest rate you’d receive.
However, this has not been the case for some time, with shorter-term bonds offering significantly better returns as providers factor in the likelihood of a cut to the Bank of England base rate after last month’s announcement.
“There are expectations for interest rates to fall in the coming months and that could impact fixed bond rates, so securing a deal now may be wise,” said Springall.
The Bank of England Base Rate has remained unchanged since August last year and, while not the only factor influencing interest rates, still has an impact on pricing.
If you’re concerned about the effect on the savings market if rates were to drop, now may be a good time to consider accounts with a longer fixed term.
Our fixed savings charts are updated regularly to show the best rates on the market.
You can also view our weekly savings roundup for more information on accounts offering top rates.
While some may be cautious when considering unfamiliar brands, lesser-known challenger banks often pay some of the most competitive rates.
Springall explained these providers are motivated to pay the best returns to entice deposits to fund future lending, meaning accounts are often withdrawn when quotas are met.
This can result in fast moving competition as different providers compete for the top spot, creating an urgency to secure the best rates before they’re gone.
Nevertheless, make sure to carefully read all aspects of a deal before committing.
To compare the whole of the fixed market, you can visit our charts to find the best account for your circumstances.
All of our newsletters are available free by email to all Moneyfactscompare.co.uk users.
Send me Weekend Moneyfactscompare, Savers Friend, Companies Friend and selected third-party offers.
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.
Fixed savings and ISA rates continued to fall in the month to October, dropping to their lowest levels since June 2023. What does the future hold for savings rates?
Fixed savings and ISA rates continued to fall in the month to October, dropping to their lowest levels since June 2023.
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.
Over 1,700 accounts can better inflation – but savers may need to act fast if base rate cuts are on the cards.
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 new easy access savings account and a balance transfer credit card from Barclaycard with a recently increased 0% term.
Fixed savings and ISA rates continued to fall in the month to October, dropping to their lowest levels since June 2023. What does the future hold for savings rates?
Fixed savings and ISA rates continued to fall in the month to October, dropping to their lowest levels since June 2023.
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.
Over 1,700 accounts can better inflation – but savers may need to act fast if base rate cuts are on the cards.
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 new easy access savings account and a balance transfer credit card from Barclaycard with a recently increased 0% term.
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.
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.