Leaving your money languishing in a low-paying savings or current account means you could be missing out on valuable interest. With the cost-of-living crisis raging on and inflation continuing to dampen your spending power, it’s more important than ever to make every penny count.

Savings interest rates have been rising off the back of 14 consecutive Bank of England base rate hikes and according to Anna Bowes, co-founder of Savings Champion, variable rates have continued to rise, while fixed term bonds appear to have peaked.

Bowes said: “There have definitely been some highs since last month. The first account to mention is the NS&I one-year Guaranteed Growth Bond which is paying a fixed rate of 6.2% AER. This is the highest rate we’ve seen for well over a decade – except for one day in July this year when Castle Trust Bank launched a bond paying 6.2% that was available for less than 24 hours. Clearly NS&I is looking raise some money from savers as this is head and shoulders above the next best rate and you can deposit up to £1m per person. Plus, all funds deposited with NS&I are protected by HM Treasury, so this is likely to be very popular.”

She added: “The other key account of note is the new Santander Easy Access Saver Limited Edition (Issue 3) paying 5.20% AER. Again, it’s remarkable to see a high street bank in the easy access best buy tables, never mind the top spot. But it won’t be available for long as Santander has stated it will be withdrawn from sale on 17 September, unless fully subscribed earlier. And, be aware that after 12 months money held in this account will be switched into the Everyday Saver which is currently paying just 1.05%.”

Below Savings Champion lists all the top paying accounts from easy access savings to fixed rate bonds, notice accounts to ISAs:

Easy access accounts

5.2% Santander Easy Access Saver Limited Edition (Issue 3) – minimum deposit £1. Apply and access online, in branch, by telephone or mobile app.

5% Furness BS Triple Access Saver (Issue 1) – minimum deposit £1. Apply and access in branch or by post.

4.93% Shawbrook Easy Access Account (Issue 36) – minimum deposit £1,000. Apply and access online.

4.9% Cahoot Simple Saver – minimum deposit £1. Apply and access online.

4.84% Chip Instant Access Account – minimum deposit £1. Apply and access via mobile app.

Notice accounts

5.59% Oxbury 180 Day Notice Account (Issue 15) – minimum deposit £1,000. Apply online. Access via mobile app. Withdrawals are subject to 180 days’ notice only; no earlier access is allowed.

5.53% Oxbury 120 Day Notice Account (Issue 23) – minimum deposit £1,000. Apply online. Access via mobile app. Withdrawals are subject to 120 days’ notice only; no earlier access is allowed.

5.5% The Tipton & Coseley BS 120 Day Notice Account – minimum deposit £25,000. Apply in branch or by post. Access in branch, by post or via mobile app. Withdrawals require 120 days’ notice: no early access is available. The account pays a tiered rate as follows; up to £999 – 5.30%; up to £10,000 – 5.35%; up to £24,999 – 5.45%; and £25K plus – 5.5% AER.

5.5% United Trust Bank 200 Day Notice (Issue 2) – minimum deposit £5,000. Apply and access online. Withdrawals are subject to 200 days’ notice only; no earlier access is allowed.

5.45% Cynergy Bank Online Notice Saver 120 Day Notice (Issue 7) – minimum deposit £500. Apply and access online. Withdrawals subject to 120 days’ notice only; no earlier access is allowed.

One-year fixed term bonds

6.2% NS&I Guaranteed Growth Bonds one-year term (Issue 72) – minimum deposit £500. Apply online. No access within the term.

6.1% Raisin UK 12 Month Fixed Term Deposit (provided by Ahli United) – minimum deposit £1,000. Apply online. No access within the term.

6.1% The Family BS 9 Month Fixed Rate Bond (2) – minimum deposit £10,000. Apply online. No access within the term.

Two-year fixed term bonds

6.05% OakNorth Bank 18 Months Fixed Term Savings Account – minimum deposit £1. Apply online. No access within the term.

6.05% Ford Money Fixed Saver 18 Month – minimum deposit £500. Apply online. No access within the term.

6.05% Ford Money Fixed Saver 2 Year – minimum deposit £500. Apply online. No access within the term.

Three-year fixed term bonds

6% BLME 3 Year Premier Deposit Account – minimum deposit £1,000. Apply online. No access within the term. The rate is not guaranteed, in order to comply with Sharia Law, the rate displayed is an expected profit rate.

5.96% OakNorth Bank 36 Months Fixed Term Savings Account – minimum deposit £1. Apply online. No access within the term.

5.95% Hampshire Trust Bank 3 Year Bond (Issue 61) – minimum deposit £1. Apply online. No access within the term.

Five-year fixed term bonds

5.85% Raisin UK 5 Year Fixed Term Deposit (provided by Tandem) – minimum deposit £1,000. Apply online. No access within the term.

5.75% Hampshire Trust Bank 5 Year Bond (Issue 32) – minimum deposit £1. Apply online. No access within the term.

5.75% Recognise Bank 5 Year Fixed Rate Account – minimum deposit £1,000. Apply online. No access within the term.

Variable rate cash ISAs

5% Teachers BS Cash ISA Notice 180 Day (Issue 1) – minimum deposit £1,000. Apply online. Access online or by telephone. Withdrawals subject to 180 days’ notice or loss or interest. Transfers in are allowed. This is not a flexible ISA.

5% The Loughborough BS 180 Day Notice Cash ISA – minimum deposit £3,000. Apply and access in branch or by post. Withdrawals are subject to 180 days’ notice or loss of interest. Transfers are allowed.

4.55% Cynergy Bank Online ISA (Issue 41) – minimum deposit £1. Apply and access online. Transfers in accepted from other cash ISAs at the time of application. This is not a Flexible ISA.

4.5% Newcastle BS Double Access ISA (Issue 1) ‒ minimum deposit £1. Apply in branch or online. Access in branch, by post, telephone or online. Interest rate will drop to 2.9% upon a third withdrawal. Interest is paid annually. Transfers in from other providers are accepted. This is a flexible ISA.

4.5% Chorley BS Easy Access Cash ISA (2 Withdrawal) ‒ minimum deposit £1. Apply and access in branch, online or by post. Two withdrawals permitted per account year (1 January to 31 December). Additional withdrawals will result in a lower rate of interest. Transfers in are allowed. This is not a flexible ISA. This is not a portfolio ISA.

One-year fixed term cash ISAs

5.78% OakNorth Bank 12 Month Fixed Rate Cash ISA – minimum deposit £1. Apply and access online. Transfer in are allowed. Withdrawals allowed but subject to a charge of 90 days loss of interest. This is not a flexible ISA. This is not a portfolio ISA.

5.78% Shawbrook 1 Year Fixed Rate Cash Bond (Issue 80) – minimum deposit £1,000. Apply and access online. Withdrawals are allowed, subject to 90 days’ loss of interest. Transfers in are allowed. This is not a flexible ISA. This is a portfolio ISA – so you can open more than one type of cash ISA with the provider (e.g. fixed and variable) in the same tax year.

5.77% UBL UK 1 Year Fixed Rate Cash ISA – minimum deposit £2,000. Apply and access in branch, online, by post or via mobile app. Access on closure or full transfer out only, subject to 90 days’ loss of interest. Transfers in accepted.

Two-year fixed term cash ISAs

5.78% Charter Savings Bank 2 Year Fixed Rate Cash ISA – minimum deposit £5,000. Apply and access online. Transfers in are allowed. Withdrawals are allowed but are subject to a charge of 180 days’ loss of interest.

5.73% Kent Reliance Two Year Fixed Rate Cash ISA (Issue 80) – minimum deposit £1,000. Apply online or in branch. Access in branch, online or by telephone. Withdrawals are allowed, subject to 180 days’ loss of interest. Transfers in are allowed within 30 days of account opening. This is not a flexible ISA. This is a portfolio ISA, so you can open more than one type of cash ISA with the provider (e.g. fixed and variable) in the same tax year.

5.65% The West Brom BS WebSave 2 Year Fixed Rate ISA – minimum deposit £1. Apply and access online. Withdrawals are allowed, subject to 150 days’ notice or loss of interest. Transfers in are allowed. This is not a flexible ISA. This is not a portfolio ISA. The maturity date is 31/08/2025.

Three-year fixed term cash ISAs

5.56% Zopa 3 Year Fixed Term Smart ISA – minimum deposit £1. Apply online. No access within the term. Interest is paid into the account on a monthly basis. Transfers in are not permitted. This is a flexible ISA.

5.55% Close Brothers Savings 3 Year Fixed Rate Cash ISA – minimum deposit £10,000. Apply online. Withdrawals are allowed, subject to 270 days’ loss of interest. Transfers in are allowed. This is not a flexible ISA. This is not a portfolio ISA.

5.51% Aldermore 3 Year Fixed Rate Cash ISA – minimum deposit £1,000. Apply and access online. Withdrawals are allowed, subject to 180 days’ loss of interest. Transfers in are allowed. This is a Flexible ISA. This is a portfolio ISA so you can open more than one type of cash ISA with the provider (e.g. fixed and variable) in the same tax year.

Five-year fixed term cash ISAs

5.26% Zopa 5 Year Fixed Term Smart ISA – minimum deposit £1. Apply via mobile app. Access within the term on closure only subject to a penalty of 365 days’ loss of interest. Transfers in are not permitted. To open a Smart ISA, you’ll need to have open a Zopa Smart Saver account and deposit a minimum of £1. You can do this in the Smart Savings Hub.

5.25% Secure Trust Bank 5 Year Fixed Rate Cash ISA – minimum deposit £1,000. Apply online. Access online or by telephone. No access within the term. The maturity date is 11.10.2028. If you decide to close your account before it matures, it takes an ‘early access charge’ of 365 days’ interest.

5.25% Close Brothers Savings 5 Year Fixed Rate Cash ISA – minimum deposit £10,000. Apply online. Withdrawals are allowed, subject to 365 days’ loss of interest. Transfers in are allowed. This is not a flexible ISA. This is not a portfolio ISA.

Related: How to earn 7.5% without tying up your money for years