You will find below information regarding savings rates from the first week of May 2023.
Our first table highlights the savings rates from what we believe to be the four key ethical savings providers in the UK:
|
|
Instant Access AER |
Notice Account |
|
1 Year Fixed Rate Bond |
3 Year Fixed Rate Bond |
|
Triodos |
2.30 - 2.75% |
n/a |
n/a |
3.50% |
3.70% |
|
Co-operative Bank |
2.09% |
Select Access |
1.18-2.40% |
3.46% |
3.84% |
|
Ecology Building Society |
2.50% |
90 Day |
2.80-3.20% |
n/a |
n/a |
|
Charity Bank |
n/a |
93 Day
|
1.87-2.04% |
3.36% |
3.95% |
Our second table shows the top savings rates as determined by our source Deposit Sense:
|
Ranking |
Instant |
AER |
Notice |
AER |
1 Year Fixed |
AER |
3 Year Fixed |
AER |
|
1 |
Aldermore Bank |
3.40 – 3.55% |
Oxbury Bank – 180 Day Notice |
4.05% |
SmartSave |
4.82% |
Al Rayan Bank* |
4.90% |
|
2 |
Investec Bank |
3.51% |
Market Harborough Building Society – 180 Day Notice |
4.00% |
Vanquis Bank |
4.81% |
Vanquis Bank |
4.75% |
|
3 |
Secure Trust Bank |
3.50% |
Marsden Building Society – 180 Day Notice |
4.00% |
Al Rayan Bank* |
4.75% |
SmartSave Bank |
4.71% |
|
4 |
Charter Savings Bank |
3.45% |
OakNorth Bank – 120 Day Notice
|
3.93% |
Charter Savings Bank |
4.74% |
Close Brothers Bank |
4.70% |
|
5 |
Family Building Society |
3.40% |
Oxbury Bank – 120 Day Notice |
3.90% |
OakNorth Bank |
4.74% |
Aldermore Bank |
4.65% |
1.Best Buys are marketing leading but not subject to formal ethical screens/investment policies so are deemed neutral
2. Rates are correct at the date of publication - 5th of May 2023
3. Information has been collected from Deposit Sense.
4. It is important to take professional advice before making any decision relating to your personal finances. Information within this article does not provide individual tailored investment advice and is for guidance only. We cannot assume legal liability for any errors or omissions it might contain. Ethical Futures llp is authorised and regulated by the Financial Conduct Authority
*Sharia compliant banks offer an Expected Profit Rate (EPR) rather than interest.