The majority of high street banks in Britain have increased their rates for savers, though National Savings & Investments (NS&I) has gone against the market trend and decided to cut the rate on its Direct Isa, meaning it will be 1.25 per cent from 16th November.
The Online Isa rate from the Post Office has gone up to 1.51 per cent for new savers, which includes a bonus of 0.86 per cent paid after the first 12 months of an account being opened.
Among the various fixed-rate cash Isas on the market, Shawbrook Bank has increased its rate to 1.85 per cent for those who do not need to access their money for one year.
For savers who can leave their funds untouched for two years, Virgin Money pays a top 2.06 per cent rate, which is marginally ahead of Coventry Building Society’s 2.05 per cent fixed rate.
Out of the easy-access taxable accounts, Tesco Bank has upped the interest rate on its Internet Saver account to 1.6 per cent, though this is reduced to 1.28 per cent after tax, and the deal is only open to new savers.
The French-owned RCI Bank, meanwhile, offers a 1.65 per cent rate (1.32 per cent after tax) with no bonus, or a fixed rate deal offering 2.06 per cent (1.65 per cent after tax) is available with both RCI Bank and Charter Savings Bank for one year.
When the two year deals are compared at both banks, RCI pays a top 2.35 per cent rate (1.88 per cent) and Charter Savings Bank gives a slightly lower 2.28 per cent (1.82 per cent).