Overview

• Moneyfactscompare’s latest rankings list headline regular saver rates of 7.5% AER at Principality Building Society, 7.1% at Zopa and 7% at Progressive Building Society.
• One-year fixed-rate bonds are clustered around 4.45% AER, with examples including First Bank and LHV Bank.
• Only NatWest and Nationwide appear among prominent high-street names this week, and customers of Lloyds, Barclays, Santander and HSBC are being advised to consider opening new accounts.
• Moneyfacts reports its Average Savings Rate remains unchanged week on week at 3.44%, which is below the rate of inflation.
• Moneyfacts’ Adam French highlights renewed competition and recommends regular savers, fixed bonds and rate alerts as many savers move to lock in rates ahead of possible Bank of England cuts later this year.