Savings deals of the week, 31 January 2013Which? experts round up the best savings deals

31 January 2013

Hot Savings Deals

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 and savings accounts on the market

As interest rates on savings accounts have never been lower, it's essential to maximise the interest you could earn on your savings by following the five steps below:

  1. Don't leave your money in a low-paying account.
  2. If you're a tax-payer, choose a tax-free account such as a Cash Isa to boost your savings.
  3. Remember the date your fixed term account matures and move your savings to a competitive account.
  4. Once the bonus period ends on your savings account, remember to move your money to a top-paying deal.
  5. Being loyal to your bank very rarely pays, so keep an eye on the rate you're getting and switch if necessary.

As savings rates are still unpredictable, we highlight the top savings deals for you.

Cheshire BS currently offers the best instant access cash Isa rate at 2.50%, but if you're willing to give 60 days notice before getting at your money, you'll earn an impressive 2.80% in Coventry BS's Notice Isa. If you've already maximised your tax-free Isa allowance, the top instant access savings account from The Post Office pays 2.10% (1.68% after basic-rate tax of 20%). You could earn 2.30% gross if you're able to give 30 days notice.

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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