Top savings accounts of the week: Britons urged to secure 8% interest while they can as providers withdraw rates

Banks and building societies have increased interest rates on savings products in a boost for customers.Experts from Moneyfactscompare have compiled a list of the best savings accounts for this week.Despite the consumer price index (CPI) easing to two per cent, the central bank has held interest rates at 5.25 per cent since August 2023.Since then the base rate has remained the same, with savings rates having largely held steady and some strong deals on offer for those looking to take advantageHowever, analysts predict a rate cut is on the horizon which could mean savings rates will dip in the short-term, so savers are urged to take action now.Among the banks and building societies offering competitive interest rates include Nationwide, the Co-operative, NatWest and TSB.Rachel Springall, Finance Expert at Moneyfactscompare.co.uk said: “Fixed bond rates across a term of one-year remain stable this week, a contrast to previous weeks. However, there has been a shuffle to the top rate tables for longer-term bonds due to tweaks from challenger banks.“Leading the market this week is a one-year fixed bond from Mizrahi Tefahot Bank Ltd through Raisin UK at 5.25 per cent AER, closely followed by SmartSave at 5.24 per cent, holding firm from last week."The one-year fixed bond market has remained stable week on week, but there is not guarantee this will continue if these challenger banks meet their deposit targets and decide to reduce or withdraw their bonds.“Those savers who want to fix their cash for longer will find a slight shuffle in the top two-year fixed bond rate tables. Secure Trust Bank now holds the market-leading position for a two-year bond priced at 5.07 per cent AER. The market-leaders last week, Vanquis Bank and Cynergy Bank have both dropped their rates.“A notable shuffle this week was on three-year fixed bonds, with Secure Trust Bank taking the market-leading position at 5.82 per cent AER, closely followed by Hodge Bank and Birmingham Bank at 4.81 per cent AER, both of which increased their rates this week."This area of the market remains an attractive place for savings providers to compete on price to secure deposits for their future lending."Best regular savings accountsHere is a full list of the best regular savings accounts on offer for the week beginning July 8, 2024:Principality BS - Eight per cent AER/ 7.85 per cent grossThe Co-operative Bank - Seven per cent AER/grossNationwide BS - 6.50 per cent AER/grossNatWest - 6.17 per cent AER / six per cent grossRoyal Bank of Scotland - 6.17 per cent AER / six per cent grossWest Brom BS - Six per cent AER/grossTSB - Six per cent AER/grossSaffron BS - 5.75 per cent AER/grossBest fixed-rate savings accountsHere is a full list of the best savings accounts with a one-year fixed rate for the week beginning July 8, 2024:Mizrahi Tefahot Bank Ltd - 5.25 per cent AER/grossSmartSave - 5.24 per cent AER/grossSecure Trust Bank - 5.23 per cent AER/grossFamily Building Society - 5.23 per cent AER/grossUnion Bank of India (UK) Ltd - 5.22 per cent AER/grossZiraat Bank - 5.21 per cent AER/grossAl Rayan Bank - 5.20 per cent AER/5.11 grossClose Brothers Savings - 5.20 per cent AER/grossBest cash ISAsHere is a full list of the best cash ISAs with a one-year fixed rate attached for the week beginning July 8, 2024:Virgin Money - 5.05 per cent AER/grossSecure Trust Bank - 4.95 per cent AER/grossKent Reliance- 4.94 per cent AER/grossCynergy Bank - 4.93 per cent AER/grossShawbrook Bank - 4.93 per cent AER/grossCharter Savings Bank - 4.93 per cent AER/grossCastle Trust Bank 4.91 per cent AER/gross Close Brothers Savings - 4.91 per cent AER/grossUnited Trust Bank - 4.90 per cent AER/grossHere is a full list of the best cash ISAs with a variable rate attached for the week beginning July 8, 2024:Trading 212 - 5.20 per cent AER/ 5.07 per cent grossPlum - 5.17 per cent AER/ 5.06 per cent grossChip - 5.10 per cent AER/4.99 per centWest Brom BS - 5.10 per cent AER/grossZopa - 5.08 per cent AER / 4.96 per cent grossProgressive BS - 5.05 per cent AER/grossPrincipality BS - Five per cent AER/grossNewcastle BS - Five per cent AER/grossParagon Bank - 4.95 per cent AER/gross LATEST DEVELOPMENTS:Savings warning as Britons ‘losing’ £600bn to low-interest accountsSavers urged to 'lock their cash' in high interest rate accounts before its too lateTesco launches 'triple whammy' savings deals for Clubcard shoppers Best easy-access savings accountsHere is a full list of the best easy-access savings accounts without a bonus attached for the week beginning July 8, 2024:cahoot - 5.20 per cent AER/grossUlster Bank - 5.20 per cent AER/grossOxbury Bank - 5.02 per cent AER/ 4.91 per cent grossMonument Bank - 5.01 per cent AER/ 4.90 per cent grossWealthify - 4.91 per cent AER / 4.80 per cent grossGB Bank - 4.91 per cent AER/ 4.79 cent grossParagon Bank - 4.91 per cent AER/grossMonument Bank - 4.91 per cent/4.80 per cent grossHere is a full list of the best easy-access savings with a bonus attached for the