Savings experts have revealed the best savings accounts of the week, with some banks offering interest rates of up to eight per cent.
Moneyfactscompare has compiled a list of the top accounts with NatWest, Yorkshire Building Society and Nationwide Building Society being among the financial institutions providing the best products.
The Bank of England's Monetary Policy Committee (MPC) slashed interest rates to 4.5 per cent in their last meeting.
Analysts are urging Britons to snatch the best savings deals as soon as possible before high street banks and building societies also lower their deals.
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Savings rates continue to be competitive GETTY Rachel Springall, Finance Expert at Moneyfactscompare.co.uk said: "An inevitable change in the market has been cuts to variable savings rates in the aftermath of the last reduction by the Bank of England.
"Easy access accounts, notice accounts and variable rate Cash ISAs have all taken a hit which makes it vital for savers to shop around to find a new deal if their loyalty is not being rewarded.
"However, savers need to be vigilant when comparing deals some may have restrictions on withdrawals or carry a bonus that expires after a year.”
Springall explained that savers looking to develop a consistent savings habit may find a regular savings account to be a valuable option.
The leading regular saver remains available from Principality Building Society, offering a fixed eight per cent rate for six months. Regardless of the account chosen, she warned it is crucial for savers to stay within their Personal Savings Allowance (PSA) and make full use of their ISA allowance to safeguard their savings from tax.
Best regular savings accounts
Here is a list of the best regular savings accounts currently on offer for the week beginning March 3:
- Yorkshire Building Society - Eight per cent AER / 7.85 per cent Gross
- The Co-operative Bank - Seven per cent AER / Gross
- Nationwide BS - 6.5 per cent AER / Gross
- NatWest - 6.17 per cent AER / Six per cent Gross
- Royal Bank of Scotland - 6.17 per cent AER / Six per cent Gross
- Progressive BS - Six per cent AER / Gross
- West Brom BS - Six per cent AER / Gross
- Market Harborough BS - Six per cent AER / Gross
- TSB - Six per cent AER / Gross
- Principality BS - 5.6 per cent AER / Gross
Best fixed-rate savings accounts
Here is a list of the best savings accounts on offer with a one-year fixed-rate interest rate attached for the week beginning March 3:
- Oxbury Bank - 4.61 per cent AER / Gross
- Close Brothers Savings - 4.58 per cent AER / Gross
- SmartSave - 4.56 per cent AER / Gross
- Zopa - 4.55 per cent AER / 4.45 per cent Gross
- Chetwood Bank - 4.55 per cent AER / 4.58 per cent Gross
- Conister Bank - 4.52 per cent AER / Gross
- StreamBank - 4.51 per cent AER / Gross
- Progressive BS - 4.50 per cent AER / Gross
- Progressive BS - 4.50 per cent AER / Gross
- MBNA - 4.50 per cent AER / Gross
Best Cash ISAs
Here is a full list of the best cash ISAs with a one-year fixed interest rate attached currently on offer for the week beginning March 3:
- Close Brothers Savings - 4.45 per cent AER / Gross
- OakNorth Bank - 4.41 per cent AER / 4.32 per cent Gross
- Hampshire Trust Bank - 4.41 per cent AER / Gross
- UBL UK - 4.41 per cent AER / Gross
- Zopa - 4.40 per cent AER / 4.31 per cent Gross
- Hodge Bank - 4.40 per cent AER / 4.31 per cent Gross
- Charter Savings Bank - 4.40 per cent AER / Gross
- Kent Reliance - 4.39 per cent AER / Gross
- Castle Trust Bank - 4.39 per cent AER / Gross
- Cynergy Bank - 4.35 per cent AER / Gross
Here is a full list of the best cash ISAs with a variable interest rate attached currently on offer for the week beginning March 3:
- Chip - 5.25 per cent AER / 5.13 per cent Gross
- Plum - 5.05 per cent AER / 4.98 per cent Gross
- Moneybox - Five per cent AER / Gross
- Monument Bank - 4.76 per cent AER / 4.66 per cent Gross
- Principality BS - 4.70 per cent AER / Gross
- West Brom BS - 4.60 per cent AER / Gross
- Kent Reliance - 4.56 per cent AER / Gross
- Charter Savings Bank - 4.55 per cent AER / 4.46 per cent Gross
- Tembo - 4.55 per cent AER / 4.45 per cent Gross
- Family Building Society - 4.55 per cent AER / Gross
Britons are on the hunt for the accounts with the best savings interest GETTYBest easy access savings accounts
Here is a full list of the best easy access savings accounts without a bonus attached for the week beginning March 3:
- cahoot - 4.75 per cent AER / Gross
- Monument Bank - 4.75 per cent AER / 4.65 per cent Gross
- West Brom BS - 4.65 per cent AER / Gross
- Vida Savings - 4.63 per cent AER / Gross
- Atom Bank - 4.60 per cent AER / 4.51 per cent Gross
- Charter Savings Bank - 4.57 per cent AER / Gross
- Kent Reliance - 4.56 per cent AER / Gross
- Yorkshire Building Society - 4.55 per cent AER / Gross
- Monument Bank - 4.55 per cent AER / 4.46 per cent Gross
- Chetwood Bank - 4.52 per cent AER / 4.43 per cent Gross
Here is a full list of the best easy access accounts with a bonus attached for the week beginning March 3:
- Principality BS - 4.70 per cent AER / Gross
- Sidekick Money - 4.59 per cent AER / 4.49 per cent Gross
- Chip - 4.58 per cent AER / 4.48 per cent Gross
- Chase - 4.50 per cent AER / 4.41 per cent Gross
- Post Office Money - 4.40 per cent AER / Gross
- Marcus by Goldman Sachs - 4.30 per cent AER / 4.22 per cent Gross
- SAGA - 4.30 per cent AER / 4.22 per cent Gross
- Cynergy Bank - 4.30 per cent AER / Gross
- Tesco Bank - 4.30 per cent AER / Gross
- Nottingham BS - 4.25 per cent AER / Gross
