Cashpoint

Savers hoping for a base rate rise and the prospect of better returns on their cash will be disappointed – yet again – as the Bank of England decided to hold the rate at 0.5% yesterday.

The next decision is not due until August.

So who’s offering the best rates in the meantime?

The best you can get is 2.76% with Secure Trust Bank online, but only if you lock cash away for seven years.

You can get 1.3% from an online easy access account with Virgin Money and Shawbrook Bank.

Sainsbury’s Bank also offers 1.3% online or by phone on 0808 540 5060. App-based Atom Bank pays 2.05% on its one-year bond, Gatehouse Bank and Bank of London and The Middle East offer 2%, online only, while Ford Money pays 1.7% on a one-year bond that can be opened online or by calling 0345 266 1231.

Charlotte Nelson, finance expert at Moneyfacts.co.uk, said: “All is not lost. There is a glimmer of hope with savings rates starting to rise gradually, fuelled by the fierce competition among the challenger banks.

“Savers now need to evaluate their accounts and vote with their feet and switch to the best deals.”