Act fast before top savings rates disappear

Pound coins

Savers hoping to grab the best-buy National Counties Building Society 1.9% before tax (1.52% after tax) on balances over £10,000 fixed until June next year have been left disappointed after the deal was pulled after being on sale for just three days.

It highlights the difficulty savers now have in securing competitive rates. The best accounts, especially from smaller providers, are oversubscribed even when the rates do little more than beat inflation, currently at 1.2%.

And BM Savings has closed its one-year deal of 1.85% (1.48%), replacing it with a 1.75% (1.4%) deal for new savers. The top rate is now 1.8% (1.44%) with Post Office.

Yorkshire BS pays a slightly higher 1.9% (1.52%) fixed until 21 March 2016, while the top two-year deal comes from Investec Bank at 2.1% (1.8%).

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Easy-access accounts

On easy-access accounts you can earn a top 1.6% (1.28%) from BM Savings - but the rate is boosted by an initial bonus paid for the first year you are in the account.

After this, the rate drops to 0.5% (0.4%). The top rate without a bonus comes from Virgin Money at 1.3% (1.04%).

On tax-free cash Isas BM Savings once again offers the top easy-access charts at 1.6% including a bonus - and it accepts transfers from other providers.

The best rate on offer with no bonus comes from National Savings & Investments at 1.5% but you cannot transfer your existing cash Isas into this account.

On fixed-rate deals the top one-year rate comes from Post Office at 1.7% and Tesco Bank at 1.65%. Virgin Money pays 2.1% for two years.

This article was written for our sister website Money Observer

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