Paragon launches best buy 5.25% easy access account

As the savings market heats up, rates on easy access accounts continue to rise with Paragon Bank now offering the table topping rate for easy access paying 5.25%. But there are some restrictions and you’ll need to be quick to get it.

Increasing coin stacking with up arrow and percentage sign for increase financial interest rate and business investment growth from dividend concept.
(Image credit: Dilok Klaisataporn)

Paragon Bank has launched a best buy easy access savings account, paying 5.25% AER (variable). The rate makes the account the best buy for savings accounts.

While the rate doesn’t beat inflation, which currently sits at 6.7%, the new easy-access savings rate matches the Bank of England’s base rate, frozen at 5.25%, after months of interest rates going up

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ProductRate AERMinimum depositWithdrawals How to open
Ulster Bank Loyalty Saver5.2%£5,000UnlimitedOnline
Coventry Building Society Triple Access Saver 5.2%£1Up to three withdrawals per yearOnline or in branch

Vaishali has a background in personal finance and a passion for helping people manage their finances. As a former staff writer for MoneyWeek, Vaishali covered the latest news, trends and insights on property, savings and ISAs.

She also has bylines for the U.S. personal finance site Kiplinger.com and Ideal Home, GoodTo, inews, The Week and the Leicester Mercury.