The best savings accounts

If you’re sick of putting up with bankers’ mischief and getting next to no interest paid on your account, now may be a good time to switch.

For instant-access accounts, reports Moneywise, the Coventry Building Society’s Telephone Saver is currently on top, offering 3.25% AER (annual equivalent rate) on a minimum balance of £500. Transactions can be made online or by phone.

ING Direct is second, paying 3.24% on minimum balances of £1, with transactions made by post, phone or online. Santander’s eSaver (issue 5) pays 3.2% on a minimum deposit of £1. Payments can be made by phone or online.

Kent Reliance Building Society’s direct savings account also pays 3.2% on balances from £1, but transactions can only be made by post. Lastly, the online-only Derbyshire NetSaver (issue 3) offers 3.06% on minimum deposits of £1.

As for cash Isas, Thisismoney.co.uk tips the Santander Direct Isa 9, which pays 3.3% on a minimum of £2,500; followed by the Barclays Loyalty Reward Isa (minimum balance £1), offering 3.05%; the Post Office Premier Cash Isa, which pays 3.01% (on £100); the Cheshire BS Direct Cash Isa issue 4, at 3% (minimum £1,000); and the ING Direct Isa, which pays 3% (minimum £1).

MoneyWeek magazine

Latest issue:

Magazine cover
Bye bye Britain

Why the rich will leave

The UK's best-selling financial magazine. Take a FREE trial today.
Claim 4 FREE Issues

Which investment platform?

When it comes to buying shares and funds, there are several investment platforms and brokers to choose from. They all offer various fee structures to suit individual investing habits.
Find out which one is best for you.


17 April 1961: America's ill-fated Bay of Pigs invasion begins

On this day in 1961, US troops landed in the Bay of Pigs on the south coast of Cuba in what would become a major embarrassment for America.

The Kids' Portfolio: the four best funds to buy for your children

Investing for your children's long-term future is an excellent idea. But what should you buy? The Kids' Portfolio is a simple collection of four funds intended to be tucked away for 20 to 40 years.