Mixed outlook for savers after rate rise
Most banks have yet to adjust savings rates following the Bank Rate increase on Thursday November 2.
Atom Bank, the mobile-only provider, increased rates on its fixed-rate bonds last week, but only the one-year account, paying 1.95pc, made it to the top of the best-buy tables.
Atom’s new two and three-year bonds share the top spot with a number of other providers paying rates of 2.05pc and 2.25pc respectively.
Vanquis Bank Savings and Paragon Bank launched new best-buy accounts on Friday. Vanquis’s four-year bond pays 2.4pc, while Paragon Bank’s easy-access account pays 1.31pc, currently the best.
National Savings announced the prize rate on Premium Bonds will rise from 1.15pc to 1.4pc in December, in response to the Bank Rate increase.