What are the best savings account rates in February 2020?

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Shadrach   in Finance & Money

Last updated: 04 February 2020, 04:31 GMT


We share the simplest interest rates on Isas, bonds, and easy-access savings accounts.

The Bank of England left the bottom rate unchanged last week at 0.75%.

But that has not stopped big banks including NatWest, RBS, Halifax, Lloyds and Virgin Money announcing cuts to their rates.

They will pay as little as 0.1% to loyal savers on easy-access accounts. In contrast, you'll earn the maximum amount as 1.35% by switching your savings to the Marcus account by Goldman Sachs.

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On fixed-rate bonds, you'll earn slightly more by docking your money for one year. the simplest rate is 1.65%, which is on offer from Atom Bank, followed by 1.57% from Charter Savings Bank. for 2 years, Atom pays a top 1.8%.

On tax-free cash Isas, the highest easy-access rate is 1.31% available online from Cynergy Bank.

For one-year fixed-rate deals, Cynergy Bank pays 1.4%, with subsequent best rate being 1.37% via Ford Money.

Paragon Bank, Shawbrook Bank, Kent Reliance and Hampshire Trust Bank all pay 1.35%.

For two years, OakNorth offers a top 1.5%, with a number of banks including Ford Money, Paragon, Shawbrook, Kent Reliance, Cynergy and Hampshire Trust following closely behind at 1.45%.