This week, two major savings account providers launched the best accounts.
Santander is offering an easily accessible deal at 2.75%, its highest rate in a decade.
The Coventry Building Society has issued a new annual bond with a fixed interest rate of 4.4%. The limited version of Santander eSaver is available online or through the bank’s mobile app and requires a minimum deposit of £1.
Coventry Building Society has a new 4.4% annual fixed bond with a minimum deposit of £1 and is available online, by phone, by mail or at a branch.
It will be on sale until early next month – unless it sells out sooner. The rate is variable.
But you need to make a note in your diary to transfer money in a year.
For now, it will be moved to Santander Everyday Saver.
The rate on this account has hardly changed since the base rate rose from 0.1% to 2.25%.
It pays just 0.2% which is one of the worst rates offered for easy access.
The new Coventry deal also has a £1 minimum deposit and is available online, by phone, by mail or at branches.
The rate is fixed until December 31 next year. His two-year bond yields 4.7% or 4.85% over three years.
Meanwhile, at Atombank, five-year rates have finally broken the 5% barrier.
But experts say the extra interest you earn isn’t enough to tie up your money in the long run.
How to find the best savings rates
Savings rates are rising after years of stagnation, and savers can now transact above 4%.
But many people still have money languishing in old savings accounts with incomes below 1 percent.
Checking the maximum rates is essential, but can also make it easier to manage your savings banks in one place.
A number of savings platforms have been launched over the past few years, offering savers the ability to switch as better offers become available and manage accounts at different banks and building societies.
Each one works a little differently and includes their own exclusives. To find out more and see the offers, visit our special savings platform rate table.
You can also check out our comprehensive Best Buy Savings Charts independently prepared by savings guru Sylvia Morris and the This is Money team.
Fundamentals of Savings:
> Compare the best savings rates in our tables
> Check out the best rates on savings platforms
> Sign up for savings notifications to get the best deals sent to you
Credit: www.thisismoney.co.uk /