The best savings accounts around now

Decent interest rates are available on savings accounts if you search around, says Ruth Jackson.

At last some good news for Britain's beleaguered savers. Sure, the average branch-based instant-access savings account offers a paltry 0.49% interest rate, but all is not lost if you widen your search a bit.

A simple hunt on Moneyfacts.co.uk, for example, turns up an instant-access postal account with Stroud & Swindon Building Society paying 2.25%, although a minimum deposit of £1,000 is required. If that's too much, the best instant-access account is Chelsea Building Society's Rainy Day Savings Issue 3 account, which offers a 2% Annual Equivalent Rate (AER) with a minimum deposit of just £10.

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Ruth Jackson-Kirby

Ruth Jackson-Kirby is a freelance personal finance journalist with 17 years’ experience, writing about everything from savings accounts and credit cards to pensions, property and pet insurance.

Ruth started her career at MoneyWeek after graduating with an MA from the University of St Andrews, and she continues to contribute regular articles to our personal finance section. After leaving MoneyWeek she went on to become deputy editor of Moneywise before becoming a freelance journalist.

Ruth writes regularly for national publications including The Sunday Times, The Times, The Mail on Sunday and Good Housekeeping, among many other titles both online and offline.