Index: HomeNewsFebruary 2017

Challenger Banks lead the way.

Feb 2017

Atom Bank

Challenger Banks have dominated the fixed rate savings accounts this month, pushing the rates up and up. Firstly Masthaven led the way, then Charter Savings took over, before Secure Trust had a say, and then finally Atom muscled their way back to the top of our Fixed Term savings account table. This has been great news for savers. If the trend continues throughout March then it will put serious pressure on the Government to increase their offering through the NS&I 3 year Investment Bond. Indeed Atoms 3 year Fixed Saver is already matching the 2.2% indicative rate that was announced by Phillip Hammond in his Autumn Statement, which was promoted as going to be a market leading 3-year savings bond. So it will be very interesting to see if he does adjust this rate, as was promised, to reflect market conditions. The NS&I 3 year Investment Bond is due to go on sale in April.

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