Atom Bank launches two greatest purchase fixed-rate savings deals together with top one 12 months provide – however you may have to sign-up through its app

  • Atom Bank was based in 2014 and is a digital-only financial institution 
  • Rates could be accessed from £50 – it additionally presents mortgages and enterprise loans
  • Last June it turned the primary financial institution to supply a one-year repair above 2% since 2016
  • Savers who do not often financial institution this manner would possibly really feel short-changed – however there are nonetheless good charges obtainable in department or over the cellphone 

There’s a brand new fixed-rate savings table-topper on the town, however solely for those that are completely satisfied to financial institution on their mobiles or tablets.

Atom Bank, based in Durham in 2014, has launched 4 fixed-rate savings deals open to savers with deposits of £50 or extra, two of which now top the independent This is Money best buy tables.

Its one 12 months fixed-rate pays 2.03 per cent, which edges out Gatehouse Bank by zero.03 proportion factors to be one of the best charge obtainable. It beforehand paid 1.97 per cent.

Causing a buzz: Atom Bank previously led the fixed-rate resurgence when it launched a 2.05% one-year fixed-rate last June, now it's back with some more top rates

Causing a buzz: Atom Bank beforehand led the fixed-rate resurgence when it launched a 2.05% one-year fixed-rate final June, now it is again with some extra top charges

Last week Coventry Building Society boosted its easy-access Isa by a equally minute zero.02 proportion factors as a way to nudge its means into first place, proving that even the smallest charge changes can have an effect.

Atom had beforehand provided a one 12 months repair in June 2018 paying 2.05 per cent. At the time, it was the primary one 12 months deal to pay greater than two per cent since April 2016. 

Savings presents aren’t significantly better this time round, with solely Gatehouse and Metro Bank paying two per cent.

The two 12 months fixed-rate ties Gatehouse for first place, with each paying 2.three per cent. 

However, Atom could be opened with much less capital, as Gatehouse requires a £1,000 minimal deposit.

But when you transcend two years the charges begin to lag behind rivals, as each its three and five-year charges additionally pay 2.three per cent – an virtually pointless train on condition that it matches its 24 month deal. 

Gatehouse tops each of these tables, paying zero.25 proportion factors greater than Atom’s three 12 months provide and zero.45 proportion factors greater than its 5 12 months.

All of Atom’s savings presents provide the alternative of getting curiosity paid month-to-month or yearly, and you’ve got seven days to deposit at the least £50 into your account from the purpose of opening it. 

Cash with Atom is protected by the Financial Savings Compensation Scheme. To entry them, it’s worthwhile to go through its Apple or Android app. 

While those that aren’t snug with doing banking on their cellphone the information could also be irritating, savers do not essentially should put up with the duff deals provided by the massive banks as a way to profit from accounts obtainable offline.

Our sister title Money Mail ran down some of the best rates available on the high street or over the phone in February.




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