Savers can now get 5% on easy access savings and more than 6% on the best-paying fixed rate bonds.

The majority of market-leading accounts come from challenger banks and smaller brands.

Here we look at the best rates on offer this week.

The best easy access savings accounts

Tandem Bank upped the rate on its Instant Saver last week to pay 5%, the highest rate on the market. The rate is made up of a 4.65% underlying rate plus a 0.35% ‘top up’.

Oxbury Bank and Cynergy Bank are not far behind, both paying 4.8%. One of the main differences between these two accounts is that Cynergy Bank’s rate includes a 0.75% bonus for 12 months. This means its underlying variable rate sits at 4.05% AER.

Oxbury Bank pays its interest monthly while Cynergy Bank pays its interest on anniversary.

Paragon Bank pays 4.75% AER of its Double Access Savings Account. Savers are only allowed two penalty-free withdrawals per year. If more withdrawals are made, the rate drops to 1.50% AER.

The best fixed rate bonds

Secure Trust Bank tops Moneyfacts’ one-year fixed chart this week after increasing its rate to 6.05%. The account requires a minimum deposit of £1,000 and pays its interest yearly. Cynergy Bank and OakNorth Bank sit in second place with one-year bonds paying 6.04% AER.

Meanwhile, Recognise Bank tops both the two and three-year fixed rate charts this week paying 6.10% and 6.05% respectively. Both accounts operate similarly – interest can either be earned monthly or on anniversary and a minimum deposit of £1,000 is needed.

The best notice accounts

Dudley Building Society retains its status as market-leader on the 30, 60 and 90-day notice charts paying 4.50%, 4.90% and 5.35% respectively. Its 30-day notice account comes in two forms. One is opened and managed purely online, while the other is operated via the post or in branch.

Its 60 and 90-day notice accounts have no online option and can only be operated in branch or via the post. No matter which account you choose, deposits start at £1,000 and you can access your cash early in case of an emergency. This does, however, come with a penalty.

The Bank of London and The Middle East matches Dudley 90-day notice rate of 5.35% AER. This comes in the form of expected profit, instead of interest, and requires a minimum deposit of £10,000.

The best cash ISAs this week

Cash ISA rates are lower than standard savings accounts at the moment. Shawbrook Bank tops the easy access ISA chart paying 4.43%, while Cynergy Bank, the Post Office and Newcastle Building Society all pay 4.40%.

The top one-year ISA rate is from UBL UK which pays 5.77%, while Virgin Money pays 5.76%.

You can earn more interest by tying up your money for two years. Natwest and Royal Bank of Scotland both pay 5.90% on two-year ISA bonds.

Longer term fixed rate ISAs pay less at the moment – the best five-year rate is from Zopa at 5.26%.