Top savings rates as ICICI leapfrogs trio

The top easy-access account comes from ICICI Bank at 1.4 per cent before tax (1.12 per cent after). AA Savings Tesco Bank and BM Savings have all cut their rate from this level for new savers in the last week or so.

Coventry Building Society still pays 1.4 per cent (1.12 per cent) on its PostSave account but you have to run the account through the post and are limited to 12 withdrawals a year.

Kent Reliance pays a top 1.5 per cent (1.2 per cent) but the account is only available through its limited branch network.

On fixed-rate bonds, Virgin Money has upped its one-year rate to 1.7 per cent (1.36 per cent), placing it just behind the leaders State Bank of India at 1.8 per cent (1.44 per cent), National Counties BS at 1.76 per cent (1.41 per cent) and Paragon, Kent Reliance, Aldermore and Harrods Bank all at 1.75 per cent (1.4 per cent).

Cash Isas

Harrods Bank pays 1.95 per cent (1.56 per cent) for 18 months, while the best two-year deal is 2.25 per cent (1.8 per cent) from State Bank of India and Harrods Bank.

On tax-free fixed-rate cash Isas, the top one-year deal is now Virgin Money's 1.7 per cent. For two years Post Office pays 1.95 per cent, while both Kent Reliance and Aldermore Bank pay 1.85 per cent.

On easy-access cash Isas you can earn a tax-free 1.5 per cent on Post Office Premier Cash Isa. The rate includes a 0.85 percentage point bonus for the first 18 months you are in the account.

Top deals with no bonus include Barclays Bank Instant Cash Isa issue 1 at 1.49 per cent on a minimum £30,000 or Sainsbury's Bank at 1.45 per cent. All three accept transfers from other providers.

National Savings & Investments pays 1.5 per cent on its Direct Isa, but you cannot move the cash Isas you hold with other providers into this account.

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