Top-paying savings accounts continue to close

Pound coins

Top-paying easy access accounts continue to disappear. Sainsbury's Bank closed its eSaver Special at 1.55% before tax (1.24% after tax) on Monday (16 Dec).

It was the best deal for savers wanting an online account with no initial bonus and no withdrawal restrictions.

Coventry Online Saver is still on offer at 1.6% (1.28%) with no initial bonus to boost the rate, but you are restricted to four withdrawals a year.

The top deal with no restrictions now comes from Virgin Money at 1.51% (1.21%).

On fixed rate deals the best rate comes from Shawbrook Bank at 1.95% (1.56%) followed by Tesco Bank, Investec and FirstSave all at 1.9% (1.52%).

Tesco pays 2.05% (1.64%) for eighteen months. For two years you can earn 2.35% (1.88%) with FirstSave and National Counties Building Society. The top three year rate at 2.65% (2.12%) comes from Shawbrook Bank.

On tax-free cash Isas the top easy-access rate at 1.75% comes from Virgin Money Cash Isa Issue 5 and Britannia Select Cash Isa 2. Both accept transfers from other providers but Britannia limits you to two withdrawals a year.

On fixed-rate cash Isas, the best one-year deal comes from Bath Building Society at 1.9% followed by Britannia where the rate is fixed until 30 October next year at 1.85%.

Find the best cash Isa or savings account for you

On longer term deals National Counties pays 2.1% fixed until May 2016 while at Britannia the rate is 2.05% fixed until 30 October 2015.

On three-year deals the best rate at 2.75% comes from Coventry Building Society fixed until 31 May 2017 although you can't transfer your existing cash Isas into this account. Virgin Money pays 2.4% fixed until 24 November 2016 and accepts transfers.

This article was written for our sister website Money Observer

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