MT Week - Best savings accounts (with interest rates of up to 5.12% AER)

At the beginning of this month, the Bank of England raised Bank Rate to 3% - the highest in 14 years - in a bid to cut inflation.

It’s also the eighth consecutive hike since December 2021.

While lenders have been quick to adjust the rate of borrowing up, the same hasn’t been true for savings accounts.

Many savings products on the market are still languishing at the bottom of the pile with a measly 1 or 2% interest rate.

But more competitive rates have come on the market in the last couple of weeks.

It means if you’re currently saving - and you should have an emergency fund at the very least - it’s high time to review whether your money is still in the best place.

With that in mind, here are the best savings accounts around.