BM Savings, part of Halifax, has launched a new top paying internet-based account.
It pays 1.6% before tax (1.28% after tax) but it includes a bonus payable for the first twelve months. After this the rate drops to 0.5% (0.4%) and you are limited to four withdrawals a year.
It matches the top rate of 1.6% (1.28%) paid on Coventry Building Society's Online Saver 5, which also restricts you to four free withdrawals a year. However, there is no initial bonus on this account so the rate should not plummet after a year.
The top paying account with no restrictions is Sainsbury's Bank eSaver Special at 1.55% (1.24%).
On fixed rate deals you can earn 2.03% (1.62%) for one year or 2.21% (1.77%) for two years from Britannia, part of Co-op Bank. For three years the top rate comes from ICICI Bank at 2.55% (2.04%) while Shawbrook Bank has raised its five-year rate to 3% (2.4%).
On tax-free cash Isas the best easy access deal comes from Tesco at 2%, but you can't transfer your existing cash Isas into this account. The best deal for transfers is 1.75% from Virgin Money on £1, or 2% with BM Savings as long as you have a minimum £15,000.
On fixed rate cash Isas, Britannia pays 2% for a year or 2.25% for two years. The top three year deal comes from Coventry Building Society at 2.35%.
This article was written for our sister website Money Observer