Top savings rates have disappeared this week as Virgin Money, Charter Savings Bank and Atom Bank lowered rates on their leading accounts.
Virgin Money Double Take eSaver now pays 1.26 per cent to new savers, down from a previous 1.36 per cent. Atom Bank cut is leading one-year fixed rate bond from 1.85 pc to 1.7 per cent for those opening an account now while Charter Savings Bank is down from 1.81 per cent to 1.76 per cent.
The best rate on ordinary easy-access accounts comes from RCI Bank Freedom account at 1.3 per cent while Nottingham Building Society ESaver pays 1.25 per cent and Shawbrook Bank Easy Access 1.2 per cent. With Virgin Money Double Take eSaver at 1.26 per cent limits you to making two withdrawals a year.
On fixed rate bonds, the best online rates are 1.78 per cent from PCF Bank, 1.77 per cent from OakNorth Bank or 1.76 per cent from Charter Savings Bank. In the high street the best you can do is 1.35 per cent from Virgin Money.
On easy-access cash Isas the best rate is 1.1 per cent from Shawbrook Bank online or 0.9 pc in the high street from both Coventry and Skipton building societies.
On fixed rate cash Isas, Virgin Money has upped its one-year rate to a top 1.41 per cent while Charter Bank at 1.72 per cent pays the top two-year rate.How to beat inflation
To beat inflation, currently running at 3.1 per cent, 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. Our sister publication Moneywise regularly keeps tabs on the savings market and has found there are six accounts that currently beat inflation.
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