Mixed out­look for savers af­ter rate rise

The Sunday Telegraph - Money & Business - - News And Comment - Amelia Mur­ray

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.

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