Move quickly to get the top savings rates

Savings jar

Savers need to be quick if they want to snap up top rate fixed rate bonds which are often withdrawn just days after their launch.

Tesco Bank's top one-year deal at 1.85% (1.48% after tax) was on sale for just a week before being closed to new savers and replaced with a similar deal at a lower 1.75% (1.4%).

The Yorkshire BS bond at 2.5% (2%) for three years was also only on sale for a short time.

The best one year deal is now 1.8% (1.44%) from Investec or 1.75% (1.4%) from BM Savings, Tesco Bank and Kent Reliance.

For two years you can earn 2.2% (1.76%) from Investec or 2.1% (1.68%) with Kent Reliance or Saga, where the deposit taker is Halifax.

Find the best Cash Isa or savings account for you

Easy-access accounts

On easy access accounts top deals include 1.4% (1.12%) from AA Internet Extra, Post Office Online Saver and Tesco Bank Internet Saver. All come with a bonus for the first 12 months.

The best deal where the rate is not boosted by a bonus is 1.3% (1.04%) with Virgin Money. Kent Reliance pays a higher 1.5% (1.2%), but the account is only on offer through its limited branch network.

Cash Isas

On tax-free cash Isas the top easy-access rate for new savers is 1.55% from BM Savings Extra Isa and Post Office Premier Isa, including a short-term bonus, after which the rate drops to as little as 0.5%.

Good deals without a bonus include 1.5% from West Bromwich Building Society or 1.45% from Sainsbury's Bank. Coventry pays a higher 2% through its Branch Isa, but you cannot transfer your existing cash Isas into this account.

On fixed rate cash Isas Post Office pays 1.7% fixed for one year, while AA Savings, Barclays and Skipton pay 2% for two years.

This article was written for our sister website Money Observer

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