Another attractive savings rate has been made available to Brits as the competition in the market continues to increase. Experts such as Martin Lewis have recently urged people to examine the savings accounts they currently have to see if they can get more returns. Many people have had the same savings accounts for a number of years, but a slew of industry-leading rates have been launched in recent months.
One of the latest high-interest rates for savers that has been launched recently comes from Skipton International. The building society, which is an offshore provider based in Guernsey in the Channel Islands, has launched two new GBP Fixed Rate Bonds paying a market-leading offshore savings rate of 4.25% AER. Savers are able to choose between bonds maturing on 16 November 2027 or 16 November 2028. Both bonds are available for deposits from £10,000 to £5 million.
Aaron Walden, Senior Commercial Manager at Skipton International, said: “This launch strengthens our competitive offshore savings range, combining a competitive fixed return with the certainty savers value and the clear, personal service customers expect from Skipton International.
“Savers are looking for both value and confidence in where they place their money. With a fixed rate of 4.25%, customers can lock in a strong return and know exactly what their savings will earn over the term.”
On both accounts, the interest rate is fixed, and annual interest is earned after 3 working days, including the day Skipton receives your cheque.
Meanwhile, new bank customers must deposit a minimum overall balance of £25,000, and balances below £10,000 will attract an interest rate of 0.00% AER.
According to Money Saving Expert, the best one-year fixed-rate account to go for right now comes from MBNA (part of Lloyds), paying 4.85% on maturity for balances between £1,000 and £750,000.
There is also the one-year fixed rate account from NS&I, which pays 4.82% interest monthly (paid away) or annually (paid into the account) for balances between £500 and £1 million.
In terms of two-year fixed rate accounts, Money Saving Expert recommends Birmingham Bank with its rate of 4.87% paid on maturity for balances between £5,000 and £250,000.
