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).

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