Average rates are rising across the board for first time in seven years.
Cynergy is the latest bank to raise its easy-access account rate to 1.5% for new savers.
However, both the Virgin and West Bromwich accounts limit you to two withdrawals a year, while the Cynergy Online Easy Access rate includes a 0.5 percentage point bonus for the first year that you hold the account. The Marcus rate also includes a bonus – a renewable 0.15 percentage point bonus for a year.
The top rate offering you easy access to your money is 1.42%, available through Ford Money Flexible Saver and RCI Bank Freedom Saver.
On fixed-rate bonds, the top one-year rate is 2.05% from Atom Bank, followed by Charter Savings Bank at 2.03% and Paragon Bank at 2.01%. The top rate for two years is 2.35% through Investec Bank.
On fixed-rate tax-free cash Isas, Aldermore Bank has upped its rate to a top 1.7% for one year, while Cynergy Bank pays 1.68% and Charter Savings Bank 1.67%. The best two-year rate is 1.87% from Charter Savings.
On easy-access cash Isas, Paragon and Sainsbury’s Bank both pay 1.35%. Virgin Money pays 1.45 on its Double Take E-Isa, however, savers are limited to making two withdrawals a year. Leeds Building Society’s Limited Issue Online Access Isa Issue 9 pays 1.38%, but the account runs only until 1 March next year.
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