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Savings deals of the week, 24 January 2013

Which? experts round up the best savings deals

Hot savings deals image

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

Best notice savings accounts on the market

The Bank of England base rate has remained at an all time low of 0.50% for almost four years (the longest hold for 60 years), meaning that savers have continued to suffer with poor interest rates on their savings.

We’ve seen rates on instant access accounts plummet over recent months, but in turn, notice accounts have offered some of the best variable rates available. There are three Best Rate notice accounts (up to 90 days) offering a better rate than the top instant access savings account. For example, the best notice account currently pays 2.30% – 0.20% more than the top-paying instant access account. So, if you’re happy to tie-up your money for 30 days, this Best Rate account from Principality Building Society is a worthy option. 

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

Currently, the Promise Saver from Principality BS offers the best notice savings account deal at 2.30% – including a 0.80% bonus payable for a year. United Bank UK and the Post Office are next with accounts paying 2.26% and 2.25% respectively. The Post Office’s Reward Saver account also offers an introductory bonus – 0.75% for a year, so you will need to switch to a more competitive account once the bonus period has ended.

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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