The top personal savings accounts – earn 5.10% variable on easy access and 5.85% fixed for 12 months

If you’ve got some spare cash sitting around in a high street bank savings account, now might be a good time to move it to somewhere more rewarding.

Savings rates have soared during the last 18 months and, even though rates are slowly starting to fall back, you can now earn more than 5.00% interest and still have immediate access to your savings balance in case you need it for an unexpected expense.

If you’re happy to give a few months notice to access your cash, then the rates are even higher, 5.50% plus

To bag the highest rates it means locking your cash away for a term of between 1-5 years – just be sure you won’t need access to your cash as once you sign up you can’t get your hands on it until it matures.

Opening a new account is very quick and straightforward if you do it online – once you’ve got your account open, switch the funds from your old bank and you’ll be earning a decent rate straight away.

Shawbrook Bank 5.00% – Instant Access

Cynergy Bank 5.10% – Instant access

Shawbrook Bank 5.56% – 120 days notice

Cynergy Bank 5.40% – 120 days notice

Al Rayan Bank 1 Year Fixed Rate Bond 5.85%

Metro Bank 1 Year Fixed Rate Bond 5.80%

Cynergy Bank 1 Year Fixed Rate Bond 5.50%

Ford Money 1 Year Fixed Rate Bond 5.55%

Deposits with the above providers are protected up to a total of £85,000 per individual by the Financial Services Compensation Scheme (FSCS), the UK’s deposit protection scheme

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