Rates are still in a state of flux following this month’s 0.25 percentage point rise in Bank of England base rate to 0.5%.
Some providers have revealed new rates and it has become clear that not all – including Santander, Halifax, Barclays and Lloyds – will pass on the full rate rise to all their savers.
Paragon Bank is already paying 1.31% on Limited Edition Easy Access 4, launched last Friday.
The top one-year fixed-rate bond comes from Atom Bank at 1.95% on an account you run on your smartphone or tablet. OakNorth Bank pays 1.87%, while in the high street Kent Reliance pays 1.6% and Skipton Building Society 1.4%. For two years both Axis Bank and Atom Bank pay a top 2.05%.
On tax-free cash Isas, the best easy-access rate comes Coventry Building Society which will raise its rate to 1.3% from the start of next month. Currently, Post Office Money pays a market-leading 1.07%.
Savings accounts to beat inflation
To beat inflation compromises need to be made as all of the small number of regular savings accounts that pay more than inflation require savers to have a current account with the provider.
Moneywise keeps tabs on the savings market has found there are accounts that currently beat inflation.
This article was written for our sister magazine Money Observer.