Saving and investing platform Prosper exclusive for This is Money readersProducts featured in this article are independently selected by This is Money’s specialist journalists. If you open an account using links which have an asterisk, This is Money will earn an affiliate commission. We do not allow this to affect our editorial independence.
The account pays a variable rate tracking 0.35 per cent above the Bank of England base rate, giving a current rate of 5.6 per cent. This comfortably beats the top one-year fixed rate account, Smartsave Bank's 5.16 per cent. One-year fixed rate accounts have been a firm favourite of savers over the last year, as rates soared to as much as 6.2 per cent last autumn as the base rate climbed.
Currently, the best notice account deals on the market are a 5.25 per cent 180-day account from Hinckley and Rugby Building Society and a 5.25 per cent 90-day account from Investec. Expectations of rate cuts have been reined in since the start of the year. Interest rate forecasts suggest the Bank of England will make its first move to lower base rate in summer, but that rates will not now fall as fast as previously thought.