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
China's cash problem

How to profit from it

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

Bill Bonner: hold on to your cash, the real financial crisis is yet to come

Merryn Somerset Webb talks to Bill Bonner about economic cycles, and the 'catastrophic credit crisis' that will make 2008 look like a picnic.


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.


5 March 1984: the miners' strike begins


On this day in March 1984, one of Britain's most acrimonious industrial disputes began when workers at Yorkshire's Cortonwood Colliery downed tools.