Experts have compiled a list of the best savings accounts of the week with interest rates more than doubling inflation

Savers are being reminded to "check if they are getting a raw deal" from their bank or building society as some financial institutions are still offering interest rates of up to eight per cent.

Analysts from Moneyfactscompare have compiled a list of the best savings accounts for the week beginning February 17, 2025, with Nationwide Building Society, NatWest and Royal Bank of Scotland

In recent years, the Bank of England has opted to raise the UK's base rate in an attempt to rein in the rising consumer price index (CPI) inflation rate, which has hit as high as 11.1 per cent.

With inflation easing, the central bank's Monetary Policy Committee (MPC) has begun to bring down interest rates with the rate of borrowing now sitting at 4.5 per cent.

While this is beneficial for mortgage holders and households in debt, savers are set to lose out as banks begin to slash the interest rates attached to their most popular accounts.

Here is a list of the best regular savings accounts currently on offer for the week beginning February 17, 2025:

Here is a list of the best savings accounts on offer with a one-year fixed-rate interest rate attached for the week beginning February 10, 2025:

Here is a full list of the best cash ISAs with a one-year fixed interest rate attached currently on offer for the week beginning February 17, 2025:

Here is a full list of the best cash ISAs with a variable interest rate attached currently on offer for the week beginning February 17, 2025:

Here is a full list of the best easy access savings accounts without a bonus attached for the week beginning February 17, 2025:

Here is a full list of the best easy access accounts with a bonus attached for the week beginning February 17, 2025:

Rachel Springall, a finance expert at Moneyfactscompare, said: "Savers will be disappointed to see a variety of rate cuts on the top deals across fixed rate bonds, variable rates and Cash ISAs week-on-week.

"These moves show how vital it is for savers to compare deals frequently and act quickly if they want to grab a competitive rate.

"The top fixed rate bond deals continue to be offered by challenger banks, but these institutions have had to adjust the rates they offer this week, off the back of interest rates coming down across the savings market.

"The drop in swap rates, coupled with a reduction to the base rate by the Bank of England, is trickling through the market, lowering savings rates.

"As ISA season heats up there has been a few providers improving rates to entice deposits, such as with OakNorth Bank, Secure Trust Bank, Charter Savings Bank and United Trust Bank on fixed rate Cash ISAs.

"However, now is the time to compare deals because there have been several providers cutting rates, so week-on-week the top returns are lower, which will frustrate those who have yet to take advantage of a fixed rate ISA for the current 2024/25 tax-year.

"It is imperative for savers to check their existing pots and switch if they are getting a raw deal but be vigilant as cuts are still being passed on. Loyalty does not pay, but it is up to savers to move their cash and find better returns."