Leaving your money languishing in a low-paying savings account or your current account means you could be missing out on valuable interest. With the cost-of-living crisis and inflation still in double digits, it’s more important than ever to make every penny count.

Savings interest rates have been rising over the course of 2022, off the back of the Bank of England base rate hikes.

But lenders have increasingly pulled their best buy deals, with lower rates now compared to last month.

Anna Bowes, Co-founder of Savings Champion, said: “It’s beginning to feel like the top of the interest rate cycle is approaching, as the improvements to the best buy accounts has all but dried up recently. Hopefully it is just a Christmas hangover, but we have seen more rate reductions than increases in the best buy savings accounts.

“There is a general feeling that even though there could be a couple more base rate hikes to come, these are already being priced into the fixed term bond rates and therefore we’re unlikely to see rates rising a great deal more, if at all.

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“Variable rates on the other hand, tend to be more reactive to the base rate as it happens, so hopefully rates on easy access and notice accounts will see a further push upwards. The best easy access account has improved marginally over the last month, but the notice account market has been far more interesting recently and you can earn more than 3% on all of the top five accounts.”

Meanwhile, fixed term cash ISA rates have fallen less than the non-ISA bond rates and Bowes said “hopefully there will even be some improvements to come as we head into the ISA season”.

Here, we list the top-paying, open-to-all accounts on the market to help you take charge of your money:

Easy access accounts

2.86% Zopa Smart Saver – minimum deposit £1. Apply and access via mobile app.

2.81% Al Rayan Bank Everyday Saver (Issue 3) – minimum deposit £5,000. Apply and access online or via mobile app. In order to comply with Sharia Law, the rate displayed is an expected profit rate; it is not a guaranteed rate.

2.8% The Tipton & Coseley Building Society Limited Access (Issue 2) – minimum deposit £25,000. Apply and access in branch or by post. Balances below £25,000 will earn 2.5%.

2.75% Cynergy Bank Online Easy Access Account (Issue 54) – minimum deposit £1. Apply and access online. Rate includes a 0.15% bonus for the first 12 months.

2.75% Chorley Building Society Easy Access Saver Account (six withdrawals) – minimum deposit £500. Apply in branch, by post or online. Access in branch or by post. A maximum of six easy access withdrawals are allowed each year. Additional withdrawals are allowed, but will result in the rate reducing.

Notice accounts

3.35% OakNorth Bank 120 Days’ Notice Deposit Account (Issue 29) – minimum deposit £1. Apply online or via mobile app. Access online, via mobile app, by telephone, via email or by post. Withdrawals are subject to 120 days’ notice; no earlier access is allowed.

3.24% BLME 90 Day Notice Account (Issue 5) – minimum deposit £1,000. Apply and access online. Withdrawals are subject to 90 days’ notice only; no earlier access is allowed. The rate is not guaranteed, in order to comply with Sharia Law the rates listed are an expected profit rate.

3.2% OakNorth Bank 90 Days’ Notice Deposit Account (Issue 28) – minimum deposit £1. Apply online or via mobile app. Access online, via mobile app, by telephone, via email or by post. Withdrawals are subject to 90 days’ notice; no earlier access is allowed.

3.2% Hinckley & Rugby Building Society Rainy Day 120 Day Notice (Issue 2) – minimum deposit £2,500. Apply and access in branch or by post. Withdrawals are subject to 120 days’ notice or loss of interest.

3.2% Allica Bank 180 Day Notice Savings Account (Issue 1) – minimum deposit £10,000. Apply online or via mobile app. Access online, by telephone, email or via mobile app. Withdrawals are subject to 180 days’ notice only, no earlier access is allowed.

One-year fixed term bonds

4.33% Habib Bank HBZ Sirat eDeposit 12 months – minimum deposit £5,000. Apply online. No access within the term. The rate is not guaranteed, in order to comply with Sharia Law the rate displayed is an expected profit rate.

4.25% Cahoot 1 Year Fixed Rate Bond – minimum deposit £500. Apply online. No access within the term.

4.25% Atom Bank 1 Year Fixed Saver – minimum deposit £50. Apply via mobile app. No access within the term.

Two-year fixed term bonds

4.52% SmartSave 2 Year Fixed Rate Saver – minimum deposit £10,000. Apply online. No access within the term.

4.5% BLME 2 Years Premier Deposit Account – minimum deposit £1,000. Apply online. No access within the term. The rate is not guaranteed, in order to comply with Sharia Law the rate displayed is an expected profit rate. Expected profit is paid annually and on maturity. Profit must be paid to a nominated account, it cannot be added to the account.

4.5% The Loughborough Two Year Fixed Rate Bond (Issue 115) – minimum deposit £10,000. Apply in branch or by post. No access within the term. The maturity date is 28/02/2025.

Three-year fixed term bonds

4.56% SmartSave 3 Year Fixed Rate Saver – minimum deposit £10,000. Apply online. No access within the term.

4.55% Gatehouse Bank 3 Year Fixed Term Woodland Saver – minimum deposit £1,000. Apply online. No access within the term. In order to comply with Sharia Law the rates listed are an expected profit rate.

4.55% Close Brothers Savings 3 Year Fixed Rate Bond – minimum deposit £10,000. Apply online. No access within the term.

Five-year fixed term bonds

4.6% Aldermore 5 Year Fixed Rate Account – minimum deposit £1,000. Apply online. No access within the term.

4.55% Gatehouse Bank 5 Year Fixed Term Woodland Saver – minimum deposit £1,000. Apply online. No access within the term. In order to comply with Sharia Law the rates listed are an expected profit rate.

4.55% Close Brothers Savings 5 Year Fixed Rate Bond ‒ minimum deposit £10,000. Apply online. No access within the term.

Easy access cash ISAs

3% Virgin Money Easy Access Cash ISA Exclusive (Issue 2) – minimum deposit £0. Apply in branch or online. Access in branch, online, post, telephone and mobile app. This account is open to customers with a current account from Virgin Money, Clydesdale Bank or Yorkshire Bank (apart from Essential Current Account or any account opened with Northern Rock). Transfers in are allowed. This is a flexible ISA. This is not a portfolio ISA.

2.6% Harpenden Building Society Triple Access Cash ISA Account ‒ minimum deposit £1. Apply in branch or by post. Access in branch, by post or online. Interest rate is 2.6% gross AER if three or less withdrawals are made per calendar year, If there are four or more withdrawals per calendar year then the interest rate drops to 1.6% gross AER. Transfers in are allowed. This is not a portfolio or flexible ISA.

2.5% Cynergy Bank Online ISA (Issue 27) – minimum deposit £1. Apply and access online or by telephone. Transfers in are allowed. This is a flexible ISA. This is not a portfolio ISA.

2.5% Principality Building Society Online ISA – minimum deposit £1. Apply and access online. The rate includes a 0.4% bonus for the first 12 months. Transfers in are allowed. This ISA is flexible.

2.5% Scottish Building Society Cash ISA – minimum deposit £100. Apply and access in branch, by post or online. Transfers in are allowed. This is not a flexible ISA.

One-year fixed term cash ISAs

4% Barclays 1 Year Flexible Cash ISA (Issue 36) – minimum deposit £1. Apply in branch. Transfers in are allowed. Up to three penalty-free withdrawals can be made within the term, with each withdrawal limited to a maximum of 10% of the account balance at the time the withdrawal is made. In addition, you may close the account before the maturity date, subject to a charge equivalent to 90 days’ loss of interest. On maturity the account is transferred to a variable rate ISA. Transfers in are allowed. This is a flexible ISA. This is not a portfolio ISA.

3.81% United Bank UK 1 Year Fixed Rate Cash ISA – minimum deposit £2,000. Apply in branch, by post, online or via mobile app. Access on closure or full transfer out only, subject to 90 days loss of interest. Transfers in accepted.

3.79% Virgin Money 1 Year Fixed Rate Cash e-ISA (Issue 546) – minimum deposit £1. Apply online. Withdrawals are allowed, subject to 60 days’ loss of interest. The maturity date is 24/12/2023. Transfers in are allowed. This is not a flexible ISA. This is not a portfolio ISA.

Two-year fixed term cash ISAs

4.11% Virgin Money 2 Year Fixed Rate Cash e-ISA (Issue 542) – minimum deposit £1. Apply online. Withdrawals are allowed, subject to 90 days’ loss of interest. The maturity date is 24/10/2024. Transfers in are allowed. This is not a flexible ISA. This is not a portfolio ISA.

4.1% Barclays 2 Year Flexible Cash ISA (Issue 37) – minimum deposit £1. Apply in branch. Up to three penalty-free withdrawals can be made within the term, with each withdrawal limited to a maximum of 10% of the account balance at the time the withdrawal is made. In addition, you may close the account before the maturity date, subject to a charge equivalent to 180 days’ loss of interest. On maturity the account is transferred to a variable rate ISA. Transfers in are allowed. This is a flexible ISA. This is not a portfolio ISA.

4.05% Secure Trust Bank 2 Year Fixed Rate Cash ISA (29 Jan 2025) – minimum deposit £1,000. Apply online. The maturity date is 29/01/2025. Access on closure only, subject to 180 days’ loss of interest.

Three-year fixed term cash ISAs

4.25% United Bank UK 3 Year Fixed Rate Cash ISA – minimum deposit £2,000. Apply in branch, by post, online or via mobile app. Access on closure or full transfer out only, subject to 270 days loss of interest. Transfers in accepted.

4.15% Ford Money Fixed Cash ISA 3 Year – minimum deposit £500. Apply online. Transfers in are not allowed. Withdrawals are allowed, subject to 270 day’s loss of interest.

4.1% Secure Trust Bank 3 Year Fixed Rate Cash ISA (29 Jan 26) – minimum deposit £1,000. Apply online. Transfers in are allowed. The maturity date is 29.01.2026. Access on closure only, subject to 270 days’ loss of interest.

Five-year fixed term cash ISAs

4.25% The West Brom Building Society 5 Year Fixed Rate ISA ‒ minimum deposit £1. Apply in branch or by post. Withdrawals are allowed subject to 365 days loss of interest, including transfers and early closures. Transfers in are accepted. This is not a flexible ISA. This is not a portfolio ISA. The maturity date is 31/12/2027.

4.25% Hinckley & Rugby Building Society 5 Year Fixed Rate Cash ISA (Issue 2) – minimum deposit £5,000. Apply in branch or by post. Withdrawals are allowed, subject to 180 days’ loss of interest. Transfers in are not allowed.

4.1% Secure Trust Bank 5 Year Fixed Rate Cash ISA (31 Jan 28) – minimum deposit £1,000. Apply online. Withdrawals allowed on closure, subject to an early access charge of 365 days’ interest. The maturity date is 31/01/2028.Transfers in are allowed. This is not a flexible ISA.