Best savings accounts of the week: Savers urged to maximise tax-free cash ‘while they can’

Among the banks and building societies singled out by the financial services comparison website include Kent Reliance and Charter Savings Bank.

Savers are being urged to lock away their cash in order to stave off the impact of the base rate reduction.

Best regular savings accounts

Here is a full list of the best regular savings currently on offer this week with interest rates attached:

• Principality BS – 7.5 per cent AER / 7.36 per cent Gross
• Zopa – 7.1 per cent AER / 6.87 per cent Gross
• Progressive BS – Seven per cent AER / Gross
• The Co-operative Bank – Seven per cent AER / Gross
• Nationwide BS – 6.5 per cent AER / Gross
• Newcastle BS – 6.5 per cent AER / Gross
• Manchester BS – 6.5 per cent AER / Gross
• Principality BS – 6.5 per cent AER / Gross
• Hanley Economic BS – 6.5 per cent AER / Gross
• Scottish BS – 6.5 per cent AER / Gross

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Best fixed-rate savings accounts

Here is a list of the best savings accounts offering a one-year fixed interest rate:

• Kent Reliance – 4.51 per cent AER / Gross
• LHV Bank – 4.46 per cent AER / Gross
• Habib Bank Zurich plc – 4.44 per cent AER / Gross
• GB Bank – 4.40 per cent AER / Gross
• Chetwood Bank – 4.40 per cent AER / Gross
• Al Rayan Bank – 4.40 per cent AER / Gross
• JN Bank – 4.35 per cent AER / Gross

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Best cash ISAs

Here is a list of the best cash ISAs with a one year fixed interest rate attached currently on offer:

• Tembo Money – 4.30 per cent AER / Gross
• Investec Save – 4.30 per cent AER / Gross
• Charter Savings Bank – 4.30 per cent AER / Gross
• UBL UK – 4.28 per cent AER / Gross
• Kent Reliance – 4.25 per cent AER / Gross
• Vanquis Bank – 4.25 per cent AER / Gross
• Zopa – 4.22 per cent AER / 4.14 per cent Gross
• Gatehouse Bank – 4.21 per cent AER / Gross
• Aldermore – 4.17 per cent AER / Gross
• Bath BS – 4.15 per cent AER / Gross

Here is a full list of the best cash ISAs with a variable interest rate attached currently on offer:

• Teachers BS – 4.30 per cent AER / Gross
• Plum – 4.28 per cent AER / 4.23 per cent Gross
• Atom Bank – 4.25 per cent AER / 4.17 per cent Gross
• Vanquis Bank – 4.25 per cent AER / Gross
• Principality BS – 4.20 per cent AER / Gross
• Charter Savings Bank – 4.16 per cent AER / Gross
• Kent Reliance – 4.16 per cent AER / Gross
• Aldermore – 4.15 per cent AER / Gross
• Bank of Ireland UK – 4.11 per cent AER / Gross

Best easy-access accounts

Here is a full list of the best easy access savings accounts without a bonus attached:

• cahoot – Five per cent AER / Gross
• Snoop – 4.25 per cent AER / 4.16 per cent Gross
• Manchester BS – 4.25 per cent AER / Gross
• Vanquis Bank – 4.25 per cent AER / Gross
• Dudley BS – 4.25 per cent AER / Gross
• Charter Savings Bank – 4.18 per cent AER / Gross
• Shawbrook Bank – 4.18 per cent AER / Gross
• Kent Reliance – 4.17 per cent AER / Gross
• Newcastle BS – 4.15 per cent AER / Gross

Here is a full list of the best easy access accounts with a bonus attached:

• Monument Bank – 4.51 per cent AER / 4.42 per cent Gross
• Chase – 4.50 per cent AER / 4.41 per cent Gross
• Sidekick – 4.48 per cent AER / 4.43 per cent Gross
• Chip – 4.37 per cent AER / 4.29 per cent Gross
• Shawbrook Bank – 4.34 per cent AER / 4.26 per cent Gross
• Principality BS – 4.25 per cent AER / Gross
• Mansfield BS – 4.25 per cent AER / Gross
• AA – 4.20 per cent AER / 4.12 per cent Gross
• Tesco Bank – 4.05 per cent AER / Gross
• Post Office Money – 4.05 per cent AER / Gross

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Caitlyn Eastell, spokesperson at Moneyfactscompare.co.uk said: “Over the past week, many of the most competitive rates have been reduced or withdrawn, but with a base rate cut seemingly priced in, this may not be entirely surprising.

“Savers could soon see lesser returns after the cut, so it is crucial they lock away their cash.

“Kent Reliance increased rates on its short-term fixed bonds and now leads the one- and two-year markets, while Charter Savings Bank strengthened its cash ISA deals.

“Inflation has eased, leaving more inflation-beating savings rates available, though regular saver accounts often come with conditions that limit long-term wealth building.”