Barnsley BS – rate on Online Saver increased by 0.40% to 2.50%
Intelligent Finance – rate on iSaver increased by 1.10% to 2.85%
Principality BS – new issue of e-Saver launched paying 2.85%, 1.20% higher than the previous issue

Louis Kaszczak, Head of Moneyfacts.co.uk commented:

“With so much competition in the fixed rate bond market, many smaller providers have found that they are unable to compete and instead are looking at other areas to attract savers.

“Online based accounts are cheaper and easier to run for providers and this saving can be passed on through higher rates. The average rate is nearly twice as high for online based accounts (0.95%) compared with branch (0.50%) based accounts.

“Moneyfacts.co.uk research shows that one in three savers are looking for easy access accounts, so it is a market that providers are wise not to ignore.

“Despite no change in bank base rate, savers are seeing the benefits through increased rates as many providers continue to look to their savings book to fund their lending activities.”

www.moneyfacts.co.uk - The Money Search Engine

Moneyfacts.co.uk is the UK's leading independent provider of personal finance information. For the last 20 years, Moneyfacts' information has been the key driver behind many personal finance decisions, from the Treasury to the high street.

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