Wyelands Bank has today launched market-leading one-year and two-year fixed savings accounts, paying 2.15% and 2.25% interest respectively.
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 Top Savings Accounts 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.
