One of the ‘highest paying’ savings accounts is offering 4.55% interest on savings | Personal Finance | Finance

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The start of a new year is a great time to look into one’s finances and it’s important people check they are getting the best savings rates available. With rising costs continuing to eat into people’s disposable income there has never been a more important time for people to make sure they are getting the best interest rates on their savings.

Investec Bank also has an Online Flexi Saver with an AER of 2.45 percent, a minimum deposit of £5,000 is required to open the account and up to £250,000 can be invested.

Interest is calculated daily and applied to the balance on the first of every month and withdrawals are permitted, although if the balance falls below £5,000, interest will not be earned.

Meanwhile, has compiled the best savings accounts 2023: Top 10 easy access savings accounts with high interest rates.

Easy access accounts typically allow savers to make payments and withdrawals with minimal restrictions and some are offering rates as high as 2.86 percent.

Ranking top of the list is Zopa Smart Saver with an Annual Equivalent Rate (AER) of 2.86 percent on savings up to £85,000.

Coventry BS’ Limited Access Saver (Online) (6) comes in second place with an AER of 2.85 percent.

Ranking third is Al Rayan Bank’s Everyday Saver (Issue 3) with an AER of 2.81 percent.

Customers need to invest a minimum of £5,000 to open one of these accounts and can save up to £1million.

Chorley Building Society’s Easy Access Saver comes in fourth with an AER of 2.75 percent.

The account can be opened with a minimum deposit of £500 and up to £500,000 can be invested.

In fifth place is Cynergy Bank’s Online Easy Access Account (Issue 54), also with an AER of 2.75 percent including a bonus.

The account can be opened with a minimum of £1 and the rate includes a 0.15 percent fixed bonus for the first 12 months – after 12 months, the interest rate reverts to 2.60 percent AER variable.

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