This week sees many banks and building societies increase rates on their fixed rate bonds, and Investec Bank plc re-launch its Online Flexi Saver which pays a chart-topping 0.71% AER.
With inflation rising to a 10-year high of 5.1% during November, savers will not find any savings accounts that can match or beat the current rate of inflation
The amount of excess savings held by UK households has increased from £112 billion in January to £163 billion in October, research from Investec reveals