Act fast to grab the best bank rates

Gemma Swinglehurst rounds up the week's personal finance news, including the best savings rates around at the moment.

"Savers should act quickly to snap up the best rates in almost two years as banks battle for deposits in the run-up to Christmas," says James Charles in The Sunday Times. Clydesdale and Yorkshire banks offer the best-buy a five-year account paying 4.7% and a one-year account paying 3.6%. The best instant-access account is from Coventry building society with a rate of 3.15%, including a 1.15% bonus.

Nationwide Building Society has launched a market-leading cash Isa, which pays a top rate of 3.1% if you have at least £25,000 of ISA savings to put away. If you deposit less than this amount, the interest rate is 2.75%. The minimum deposit is £1,000 and is available only to Nationwide cardholders.

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