SAVINGS rates have been dismal over the past ten years due to record-low interest rates.

But top savings accounts have started creeping up in recent years as banks battle for your cash.

 Savings rates have started to creep up as banks battle for your cash

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Savings rates have started to creep up as banks battle for your cashCredit: Getty – Contributor

The Sun has taken a look at the top savings accounts on the market that can help boost your rainy day fund.

Below are the best ones. All of them are covered by the Financial Services Compensation Scheme (FSCS).

This means that if you deposited cash and the bank went under, you would get your money back (up to £85,000 per person) from the FSCS.

What are the best fixed-rate savings accounts in 2019?

Fixed-rate accounts will typically offer better rates than normal, easy access accounts, so if you know you can afford to tie your money up for between one and five years, it’ll be worth looking at these type of accounts.

With these accounts you’ll always need to check how much you need to open the account with – some have really high limits which won’t be available to most people.

Here we’ve included the best one and two year deals currently available.

Minimum investment: £1,000

Rate: 1.66 per cent

Interest earned on £1,000: £16.60

Minimum investment: £50

Rate: 1.65 per cent

Interest earned on £1,000: £16.50

  • Habib Bank Zurich Fixed Rate eDeposit – Apply Here

Minimum investment: £1,000

Rate: 1.65 per cent

Interest earned on £1,000: £16.50

Current account savings

AS you can now earn interest tax free on any accounts and not just Isas, some savvy savers have been using current accounts to get a cash boost.

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Here are two of the highest paying current accounts around.

Nationwide FlexDirect – You’ll get 5 per cent on balances up to £2,500 for the first year you have the account before it drops to 1 per cent.

TSB Classic Plus – You’ll get 3 per cent with TSB but only on balances up to £1,500.

Check out our round-up of the best current accounts depending on how much you earn.

What are the best two-year fixed rate savings accounts in 2019?

  • Union Bank of India Fixed Rate Deposit – Apply Here

Minimum investment: £1,000

Rate: 1.85 per cent

Interest earned on £1,000: £37.34

Minimum investment: £1,000

Rate: 1.80 per cent

Interest earned on £1,000: £36.32

Minimum investment: £2,000

Rate: 1.80 per cent

Interest earned on £1,000: £36.32

What are the best easy-access savings accounts in 2019?

Easy access accounts are typical accounts that let you pay money in and withdraw it when you want – usually without being penalised.

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Rates on these accounts are normally lower than fixed-rate ones but you’ll want to check them out if you know you might need to access your cash, so can’t commit to a fixed deal.

Minimum investment: £1

Rate: 1.35 per cent

Interest earned on £1,000: £13.50

Minimum investment: £1

Rate: 1.35 per cent

Interest earned on £1,000: £13.50

Minimum investment: £1

Rate: 1.35 per cent

Interest earned on: £13.50

What are the best easy-access cash Isas in 2019?

For a long time Cash Isas were a no-brainer for savers.

Allowing you to shelter money tax-free, you can currently put away up to £20,000 each tax-year without having to worry about the taxman taking a chunk of your cash.

But rates have been dismal, meaning many savers have turned to other products that offer better rates of interest.

For instance, since the the government introduced a big shake-up to something called the Personal Savings Allowance (PSA), people have been able to make £1,000 in interest a year tax-free – in whatever account they’re saving in.

For most people, this is more than enough, meaning other savings accounts may be a better option. However, for anyone who needs to save more, an Isa is a good way to minimise tax.

Here are the easy and limited access accounts topping the charts at the moment:

Rate: 1.31 per cent

Minimum Investment: £1

Interest earned on £1,000: £13.10

Rate: 1.27 per cent

Minimum investment: £1

Interest earned on £1,000: £12.70

Rate: 1.25 per cent

Minimum investment: £1

Interest earned on £1,000: £12.50

The Bank of England cut the cost of borrowing to a record low of 0.25%


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