Personal savings rates still increasing

After years of putting up with dismal savings returns, the tide has started to turn and rates are improving week on week – this is long overdue and great news for savers.

It’s now possible to earn 1% plus on easy access savings and more than 2% if you’re happy to lock your cash away for two years.

Unfortunately inflation remains at a 30 year high and is eroding the spending power of your nest egg, however if you’ve got your cash in a high street bank account paying a measly 0.1% or 0.2%, now is the timwe to switch and find a far more rewarding option.

With bank base rate potentially set to rise above its current 0.75% level, we could see further rate increases on cash savings accounts in the coming months.

Here are the latest top deals (as at 12 noon on Tuesday 12th April)

Easy Access Savings

Cynergy Bank – 1.10% – Online Easy Access Account

Tandem Bank – 1.10% – Green Instant Access Saver

Marcus -1.00% Online Savings Account

Fixed Rate Savings Bonds

Cynergy bank – 1 Year fixed – 1.86%

Zopa – 1 Year Fixed – 1.81%

Investec – 1 Year Fixed – 1.80%

Gatehouse Bank – 18 Months Fixed – 1.90%

Oxbury Bank – 18 Months Fixed – 1.85%

Cynergy Bank – 2 Years Fixed – 2.18%

Gatehouse Bank – 2 Years Fixed – 2.15%

All the above account providers are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000 per individual deposir per registered provider.

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