Savings deals of the week, 17 January 2013Which? experts round up the best savings deals

17 January 2013

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Which? Money provides its weekly look at the best savings deals currently available to help you deposit your cash in the right account. 

Best cash Isa savings accounts on the market

Tying-up your money in a fixed-term account once meant that you would be rewarded for doing so, today this is no longer always the case. At the moment, the best instant access cash Isa from Marks & Spencer Bank pays 2.75% (available to new customers until 21 January 2013), but the best one to five-year fixed Isa deals all pay less. 

Even the second best instant access cash Isa from Cheshire BS at 2.50% pays more than the top deals offered on a one-, two-, four- and five-year fixed-term Isa. Furthermore, the top three-year fixed rate cash Isa pays just 0.05% more than the Cheshire BS account.

As savings rates are still unpredictable, we highlight the top instant access cash Isa deals for you.

Currently, the Advantage Isa from Marks & Spencer Bank offers the best instant-access cash Isa deal at 2.75% but unfortunately, this account will be withdrawn to new customers on 21 January 2013 and the rate will reduce for existing customers to 2.25% on 6 March 2013. Cheshire BS's Direct Cash Isa pays 2.50% but does not allow transfers in from other providers. Metro Bank are offering 2.35% from initial balances of just £1.

Find more Best Rate products

  • Best Rate savings accounts - to find the best instant access, notice or fixed-rate savings accounts.
  • Best Rate cash Isas - to find the best tax-free instant access, notice or fixed-rate cash Isa deals.
  • Best Rate credit cards - to find the best cards to suit your requirements.
  • Top unsecured personal loans - for borrowing £5,000 over 3-years or £10,000 over 5-years.

And finally... boost your savings

To find out if your savings account is paying a competitive interest rate, check out the Which? Savings Rate Booster tool and switch your account for a better deal if necessary.

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