The SmartSave 1 Year Fixed Rate Saver pays 5.43% AER/gross on a minimum £10,000 deposit and maximum £85,000.

This means on £10,000 in savings, you would earn £543 in interest at the end of the term.

If you’re a higher rate taxpayer, be mindful of the Personal Savings Allowance which lets you earn £500 a year in savings interest tax-free. If you earn more than this, you’ll pay tax at your marginal rate.

The SmartSave account can be opened and managed online and funds need to be deposited within 14 days of opening.

As you’d expect from this kind of account, there’s no access to your cash within the term but SmartSave states in its terms and conditions that “in exceptional circumstances, we may consider early withdrawals” such as bankruptcy, insolvency or diagnosis of a critical illness.

If you can’t meet the minimum deposit value, then the OakNorth Bank 12 Months Fixed Term Savings Account pay 5.42% AER/gross on a minimum £1. It can be opened and managed online or via phone. Withdrawals and early access aren’t allowed.

You need to fund the account within 14 days of opening it and you can open a joint account.

Alternatively, digital banking app Atom Bank pays a slightly lower 5.40% AER/gross on its 1 Year Fixed Saver with a minimum £50 deposit.

Easy access accounts

In the easy access account market, Coventry Building Society and The West Brom continue to lead the best buy table, paying 4% AER/gross. Both accounts require £1 to open.

This 4% rate is also matched by Teachers Building Society on its cash ISA product – Cash ISA Notice 120 (Issue 1). Here savers (you don’t need to be a teacher) need a minimum £1,000 deposit, and the account can be opened online and can be managed online or by phone.

Withdrawals are subject to 120 days’ notice, and if the account balance falls below £1,000, the interest rate will drop to 0.5% AER/gross. This isn’t a flexible ISA so if you take money out, you won’t be able to replace that amount.

Fixed-term accounts

On the fixed-term ISA product range, UBL tops the table with its 4.64% AER/gross 1 Year Fixed Rate Cash ISA on a minimum £2,000 deposit. It allows existing cash ISA transfers, and can be opened online, in branch or by filling in and posting off an application form. You’ll have 10 working days to fund your account.

Early withdrawal in full (no partial withdrawals) is allowed but it’s subject to 90 days’ loss of gross interest. Based on a £2,000 deposit, you would earn £92.80 in interest.

Related: How to get 9% interest without tying up your savings for years