Best savings accounts of the week: 'Crucial savers act quickly' as banks offering 10% interest rates

Here is a full list of the best savings accounts of the week, according to Moneyfactscompare:

Best regular savings accounts

• Virgin Money - 10 per cent
• Principality BS - eight per cent
• The Co-operative Bank - seven per cent
• Nationwide BS - 6.50 per cent
• NatWest - 6.17 per cent
• Royal Bank of Scotland - 6.17 per cent
• Principality BS - six per cent
• West Brom BS - six per cent
• TSB - six per cent
• Saffron BS - 5.75 per cent.

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Best fixed-rate savings accounts

• Union Bank of India (UK) Ltd - 5.25 per cent
• Mizrahi Tefahot Bank Ltd - 5.25 per cent
• Union Bank of India (UK) Ltd - 5.25 per cent
• Isbank - 5.17 per cent
• MBNA - 5.15 per cent
• National Bank of Egypt (UK) Limited - 5.12 per cent
• SmartSave - 5.11 per cent
• Close Brothers Savings - 5.10 per cent
• BPI Europe PLC - 5.05 per cent
• Investec Bank plc - 5.04 per cent.

• Virgin Money - 5.05 per cent
• Shawbrook Bank - 4.96 per cent
• Cynergy Bank - 4.93 per cent
• Close Brothers Savings - 4.92 per cent
• Kent Reliance - 4.91 per cent
• Castle Trust Bank - 4.90 per cent
• United Trust Bank - 4.90 per cent
• Charter Savings Bank - 4.86 per cent
• Beehive Money - 4.85 per cent
• Paragon Bank - 4.83 per cent.

Here is a full list of the providers offering a competitive cash ISA with a variable interest rate attached:

• Trading 212 - 5.20 per cent
• Plum - 5.17 per cent
• West Brom BS - 5.10 per cent
• Zopa - 5.08 per cent
• Progressive BS - 5.05 per cent
• Marsden BS - 5.05 per cent
• Principality BS - five per cent
• West Brom BS - five per cent
• Newcastle BS - five per cent
• Paragon Bank - 4.95 per cent.

• Cynergy Bank - 4.88 per cent
• Tesco Bank - 4.66 per cent
• Principality BS - 4.60 per cent
• Post Office Money - 4.60 per cent
• Marcus by Goldman Sachs - 4.55 per cent
• SAGA - 4.55 per cent
• Post Office Money - 4.10 per cent
• Sainsbury's Bank - four per cent
• TSB - 2.92 per cent.
• Principality BS - five per cent

Here is a full list of the easy-access accounts without a bonus attached:

• Ulster Bank - 5.20 per cent
• Monument Bank - 5.03 per cent
• Monument Bank - 4.91 per cent
• Paragon Bank - 4.91 per cent
• Hampshire Trust Bank - 4.90 per cent
• QIB (UK) - 4.90 per cent
• Aldermore - 4.90 per cent
• Close Brothers Savings - 4.90 per cent
• UBL UK - 4.87 per cent.
• cahoot - 5.20 per cent.

• Virgin Money launches new savings account paying 10 per cent interest rate
• NS&I explains how thousands of customers can get access to a new exclusive interest rate
• Bank launches 'great opportunity' for customers to get free £190 cash plus choice of reward

Rachel Springall, a finance Expert at Moneyfactscompare.co.uk said: "The savings market was volatile last week across the fixed and variable markets, before and after the 0.25 per cent base rate cut. As there have been rate cuts among market-leading deals, these moves make it crucial for savers to act quickly to grab a top-rate deal.

"In positive news, savers can still get a fixed bond or easy access account that pays 5 per cent or more and a new regular savings account that pays 10 per cent gross. Leading the market for a consecutive week is a one-year fixed bond from Union Bank of India (UK) Ltd which pays 5.25 per cent AER, a lower rate than 5.40 per cent AER a week ago.

"This area of the market felt a raft of rate cuts in the top rate tables, including cuts from GB Bank, Ziraat Bank, Cynergy Bank, SmartSave and Tandem Bank. These cuts make it imperative for savers to keep a close eye on the rates if they want to secure a guaranteed return of over 5 per cent over the next 12 months.

"Those savers who want to fix their cash for longer may be disappointed to see some providers cutting rates on the top two-year fixed bonds. The top position for a consecutive week is held by RCI Bank UK at five per cent AER. However, there were rate cuts in GB Bank, Ziraat Bank and Cynergy Bank. This area of the market is awash with Challenger Banks, so the rates and products on offer come and go quickly if they are paying far higher than their peers."