The best deals are moving online-only – costing less digital-savvy savers dearly

A postbox for letters to Santa 
Father Christmas still accepts requests by post, but many savings accounts aren’t so generous Credit: Victoria Jones/PA

Savings rates are on the up – at least for those lucky enough to be able to access the best deals.

This week the interest rate on the top easy-access savings account and the average rate across the top five accounts were both the best since 2016, according to a savings index compiled by the comparison service Savings Champion.

The top easy-access savings rate hasn’t been so high since March 2016, except for a fleeting two-day peak this October for the launch of a new Nottingham Building Society account. And the average of the top five rates has not reached these heights since January 2016.

The launch to great fanfare of the Goldman Sachs Marcus account in September helped boost competition among...

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