Wyelands Bank launches two market-leading savings accounts

The accounts, which have a minimum deposit of £5,000 and a maximum of £1 million, are now the best buys following yesterday's base rate rise.

Their launch comes in the wake of only the second interest rate rise in a decade and may mark the start of a small revival in rates, but as our analysis showed earlier this year, rates didn't go up as much as expected after last November's rate rise.

At 2.15% AER Wyeland's one-year* account pays 0.1 percentage points more than the next best rate at 2.05% from Atom Bank - which lets you pay in with as little as £50.

And at 2.25% AER, Wyeland's two-year* account pays 0.05 percentage points more than the next best rate at 2.2% from Birmingham Midshires - which lets you pay in with as little as £1.

See our guide for the best rates for your money.

Put your cash away for longer for better rates.

While the new Wyelands accounts offer the best one-year or two-year fixed deals, it's possible to earn boosted rates if you're happy to lock away your cash for longer.

You can get a five-year fix with Charter Savings Bank which pays 2.68%, while a four-year fix from Secure Trust Bank pays 2.51%.

But these two options are from before the base rate rose, and rates could rise in the wake of this - at least a little - in the coming weeks.