During the last few months of 2022, interest rates were on the rise meaning that savers were getting some of the best deals they’d seen in years.

However, as 2023 dawns, if you are starting a new savings regime or you’re looking to shift your existing pot, then it may be worth moving fast as experts have warned that rates may start to fall in the near future.

Here is where to look for the best savings rates on offer, according to Moneyfacts.

Easy access savings

Easy or instant access savings accounts mean you can usually withdraw your money whenever you want and without notice.

The Santander Edge Saver is top of the easy access chart, as it was for much of the latter part of 2022. The account pays 4% AER on balances of up to £4,000, but anything above this threshold won’t earn interest.

The account’s rate is compounded, paid monthly and includes a bonus of 0.48% for 12 months. This product is exclusively available to new and existing Santander Edge current account customers.

The second and third placed easy access accounts are the Yorkshire Building Society Rainy Day Account Issue 2 and the HSBC Online Bonus Saver, which both offer rates of 3% AER. The former only pays this rate on balances up to £5,000, dropping to 2.5% AER on any balance above that level. The latter also changes its rate according to your balance, with 3% on offer up to £10,000. Anything above this will earn only 1.40% AER.

Fixed rate bonds

One-year bonds

The HBZ Sirat eDeposit is a one-year fixed rate saver offering an expected profit rate (as opposed to an interest rate as this is an Islamic finance account) of 4.33% AER. This is compounded, paid on maturity and requires a minimum investment of £5,000.

Two-year bonds

The top two-year bond comes from Zenith Bank (UK) and offers a rate of 4.53%. The account can only be opened online but can be managed through the post. Minimum investments start at £1,000, with interest paid away on anniversary. However, further additions are not allowed after the £1,000 initial investment.

Three-year bonds

For three-year bonds, three providers offer a rate of 4.55% AER. These bonds are from Investec Bank, Gatehouse Bank (expected profit rate) and State Bank of India.

Five-year bonds

When it comes to five-year bonds, State Bank of India is offering a rate of 4.75% AER via its Green Fixed Deposit. You will need a minimum £10,000 to open the account.

30-day notice accounts

Aldermore and Chorley Building Society provide the best rate for accounts requiring a notice period of 30 days or less. Both offer rates of 2.8%.

Aldermore’s 30 Day Notice Account Issue 12 is an online-only account which pays away or compounds interest monthly or on anniversary. It requires a minimum deposit of £1,000.

Chorley Building Society, however, has a lower minimum deposit of just £1 with interest compounded and paid yearly. It can be opened online, in branch or via the post but managed in branch or via the post.