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9 shares 29 View comments Current accounts that pay out interest on your balance are few and far between nowadays - but once you know where to look, there are some good options available. Savings rates are at an all-time low, providing a good incentive for checking out alternative ways to make your money work harder - you could be earning as much as 5 per cent on your in-credit bank balance every month. We have scoured the small print to round-up the best interest-paying accounts. This page is kept up-to-date throughout the year - bookmark it for the very latest developments. Free money: We pick the best of the interest-paying current accounts Nationwide - 5% interest Nationwide is offering the highest available interest rate on a current account. Best interest rate Nationwide's FlexDirect account pays out 5 per cent in-credit interest on balances up to £2,500 for the first year - not bad considering most easy-access savings rates have slid in recent years to

0 View comments In the so-called good old days, a consumer who felt they had been treated unfairly by a financial institution such as a bank or building society, basically had to lump it. But the fairly recent introduction of the Financial Services Authority (FSA), the Financial Ombudsman and a whole host of regulatory bodies, has meant that today's consumer has some clout. The FSA was replaced for consumers by the Financial Conduct Authority (FCA) in early 2013. The standard grumble about your bank, which often includes being charged for exceeding your overdraft limit or having to spend your entire lunch break in the branch queue, is one matter. But being treated unfairly by a financial institution is another. Typical examples of mistreatment might include unreasonable delay, neglect, inefficiency or discourtesy of staff, failure to follow policy or proper procedures, unfair discrimination, inconsistency, inaction, mistakes of the law or giving inaccurat

13 View comments Choices: The likes of Co-op and Nationwide offer a sizeable alternative to the biggest High Street names, meanwhile smaller banks and building societies have lots to offer Consumers have had a lot to complain about when it comes to their banks in recent years. Slipping customer service standards mean that a fifth of all complaints are never resolved. Add to that the mistrust that has arisen from the mis-selling scandal and it is clear why people are looking to ditch and switch. The good news is that changing banks is a far easier process than it used to be, and new rules mean it is set to get even easier in the second half of the year. You can pick a bank that will pay better rates of interest and top service and it should do most of the switching work for you. Some will even give you free money. You can also decide to fight back against the stranglehold of big banking by picking a building society or smaller player. Thinking of switching to a better

10 shares 21 View comments Fed-up savers are shunning high street banks to boost their returns. They are using services that allow them to lend their money directly to borrowers and earn a premium income. It also means that loans are offered at competitive rates. But peer-to-peer lending is not without risks. The Mail on Sunday investigates. Growing returns: Keen gardener Lynne Oak earns £1,000 a month in interest from peer-to-peer lending firms DEALS FOR SAVERS I'M WILLING TO TAKE THE RISK One saver who decided to try peer-to-lending is Lynne Oak, 59, of St Albans, Hertfordshire. Lynne, who used Zopa, says: ‘I saw an advertisement online saying, “How to beat your own bank” and thought that’s a great idea. I’d just been given my Christmas bonus at work so I thought I would give it a go.’ That was in 2006. Now she is a committed lender. The former City worker, who runs her own foot care business, gets about 6.5 per cent annual interest after defaults and f

13 shares 25 View comments How hard does your bank account work for you? Hard enough to give you free travel insurance, cashback on your household bills, or simply standout customer service? Although it is only natural to have reservations over switching from a well-worn account that has seen you through your financial life - possibly since you were a teenager - this is no reason to stay put if you could be getting a better deal elsewhere. Here we look at some of the best options available to help you to make your money work harder, cut down on fees, or get free stuff. This is not an exhaustive list of all current accounts around, but as with our Five of the best Cash Isas round-up, we have chosen accounts that we feel stand out for some reason. Free insurance: Nationwide is offering European travel coverage with its current account Account for...free overall perks: Nationwide FlexAccount While many accounts have individual perks that make them stand out over oth

7 shares 27 View comments Savers are being warned not to tie their money up in a long-term fix. Experts say it would be ‘madness’ to hand over your money for five years with rates at their current low levels. In the past week, Halifax, Santander and Nationwide have all cut rates for those taking out fixed-rate bonds or tax-free fixed-rate cash Isas. Money to burn: In the past week, Halifax, Santander and Nationwide have all cut rates for those taking out fixed-rate bonds or tax-free fixed-rate cash Isas Halifax now pays a miserly 1.6 per cent after tax (two per cent before) to savers willing to lock their money up for five years. Fixed-rate bonds and Isas usually pay a decent premium if you are willing to go without use of your cash for five years, rather than just one or two. But the amount of extra interest you currently earn as a trade-off for leaving your money untouched for these extra years is so small it is not worth doing it.   More... Best savings

0 View comments Savvy: Savers coming to the end of fixed-rate deals can lock into better deals now Savers coming to the end of one-year fixed-rate deals can lock into higher rates now for a further year. The top five deals average 2.74 per cent (3.43 per cent before tax) figures from comparison site Moneysupermarket show. A year ago, the equivalent rate was 2.34 per cent (2.92 per cent). But make sure you don't get caught in one of the poor deals. For example, Barclay's new 18 month bond pays just 2 per cent (2.5 per cent), while HSBC hands out the same low rate on its one year bond to savers with smaller balances. Top one-year deals include Tesco and Allied Irish (GB) — both pay 2.72 per cent (3.4 per cent). The Post Office, where the deposit taker is Bank of Ireland, pays 2.73 per cent (3.41 per cent) The top branch-based accounts include the new Nationwide 14-month fixed-rate bond, starting at 2.52per cent (3.15 per cent) on a minimum £1 rising to 2.72 per c

0 View comments Savings war: The competition for the top rate is heating up Fierce competition for savers' cash has seen a string of leading accounts open in the last week. Leeds BS's new version of its Online Access pays 2.44 per cent after tax (3.05 per cent before). This includes a 2.04 (2.55) percentage point bonus payable until October 31 next year. There are no restrictions on cash access. But once you've opened an account, you can only add money while it's still open to new savers. Newcastle BS has reopened its Online Easy Saver which pays 2.4 per cent (3 per cent). There is no bonus on this account, so you won't necessarily have to move your money after the first 12 months. And you can add to it once it is closed to newcomers. The society has also launched Bonus Saver issue 2 at 2.44 per cent (3.05 per cent) including a 0.76 (0.95) point bonus for the first year. It also has a cash Isa version paying a top 3.05 per cent tax-free. It's an

4 View comments Santander has launched a three-year fixed-rate bond that pays interest in advance, the first product of its kind. The Upfront Interest bond, which is being marketed with a television advertising campaign fronted by US Open golf champion Rory McIlroy, is available to anyone with a Santander current account, or those savers who open one. Blazing: Spanish owned bank Santander has launched a three year fixed bond which pays customers interest in advance The bond can be opened in branches and by phone. The minimum deposit is £10,000 and capital cannot be accessed for three years. But in a unique twist, interest is paid in full within six weeks of opening the bond. The rate is equivalent to 3.36 per cent gross per year. For example, someone who deposits £10,000 this week will be paid just over £830 in net interest early next month. The interest is paid into the Santander current account. No further interest is paid during the term and savers get their capital

0 View comments Smart savings: You can put up to £5,340 into a cash Isa savings account this tax year and earn tax-free interest It's time to act quickly: savers have just eight days left to make use of their cash Isa allowance for this tax year, which ends on April 5. You’ll need to move swiftly because, with some top payers, you have to send a cheque to put money in rather than switching funds from your current account. As the countdown to the end of the tax year begins, the battle for savers' money is hotting up as banks and building societies raise rates on their cash Isas or launch top-paying accounts. You can put up to £5,340 into a cash Isa savings account this tax year and earn tax-free interest on your money. If you don’t use your allowance, you lose it and cannot carry it over until next year. You can still grab a top deal One of the latest deals to jostle for your cash comes from Cheshire  BS, part of Nationwide, which has raised the rate on its Dire

4 View comments Savers should be getting ready to switch their cash Isas for a better deal. A host of top-paying accounts on sale this time last year will pay lower rates once you have been in the account for 12 months. These rates can plummet from an attractive 3 per cent to as little as 0.5 per cent. The next three months of the year are a popular time for switching, a report for the Office Of Fair Trading reveals. Some 1.3 million cash Isas were transferred last year, with four out of ten moving in May, June and July. The number is likely to increase this year, as savers discover just what poor rates they earn. For the first time, interest rates must be printed on the annual cash Isa statements now being sent out. This can be as low as 0.1 per cent in some older accounts. Savers, who have more than £198billion in cash Isas, are often forced to move their money each year to earn a decent rate of interest. While top rates on offer break the 3 per cent barrier, the ave

18 View comments Nationwide has launched a self-service current account paying more interest than most High Street savings accounts. The new FlexDirect account pays customers 1.6 per cent after tax (2 per cent before) on balances up to £2,500 — a rate well above the average 0.74 per cent (0.92 per cent) payable on easy access deals. However, it has been dubbed a self-service account because you won’t be able to do any of your everyday banking at counters in branches. Self-service: The FlexDirect account is not branch-based Instead, customers will have to use the internet or the telephone. To pay in cheques and cash, they will be able to use the machines inside branches. While there is no monthly fee, you’ll need to put in at least £1,000 a month to qualify. For most people, once tax is deducted, this means earning a salary of at least £14,000. Those aged over 65 would need a pension income of more than £12,500. Customers get a fee-free overdraft for three months,

2 View comments More than one million savers with ING Direct will start to receive letters this week telling them they are no longer its customers. The Dutch-owned bank has sold its savings and mortgage business to Barclays, and the ING Direct brand name will now disappear. Customers who had savings with the overseas bank now belong to Barclays Direct after the deal was finally completed last week. Transfer: Savers with ING Direct will see their accounts transfer to Barclays following a buyout. There are no immediate changes to the way customers' accounts will operate following the deal. Over the next few months, Barclays will transfer ING Direct savers into 'equivalent' Barclays accounts. It has not yet revealed which accounts these will be, nor the rates it will pay, but admits there will be changes in how you access your account. You need to watch your interest rate when your account switches over. ING Direct offered top rates to UK savers.   More... W

1 View comments Fixed rate bonds continue to languish with the rest of the savings market in the wake of Funding for Lending, but Shawbrook Bank has today issued three market-leading products. The bank has announced new rates for its one, two and three year-fixed rate bonds, as well two new notice savings accounts. It is now topping the charts with a 2.10 per cent gross AER (1.68 per cent net) rate on its one-year bond, which rises to 2.45 per cent gross (1.96 net) and 2.50 per cent gross (2 net) with the two and three year deals respectively. You can deposit any amount from £5,000 up to a maximum of £2million. Make it stretch: Savings rates have been decimated by the cheap cash now available to banks through the Funding for Lending scheme. James Blower, director of savings, said: 'The launch of these products is part of our commitment to UK savers at what is a challenging time for the savings market. 'In 2013 we'll be developing our savings offer for indiv

11 View comments The cost of living has risen by 2.8 per cent over the last 12 months, government figures revealed yesterday. While inflation as measured by the consumer prices index remains stubbornly high, savings rates have fallen sharply over the past few months. In July last year, savers could tie their money up for a year at 3.6 per cent before tax. Now the best they can do is 2.25 per cent. Lock it away: Halifax and Principality both pay 3.1¿per cent fixed for five years To match inflation — and retain the spending power on their savings —basic-rate taxpayers need to earn 3.5 per cent before tax. Not one single taxable account or fixed-rate bond pays this rate. The best you can do in an easy-access account is 2 per cent from Skipton BS. At this rate, basic-rate taxpayers are missing out to the tune of 1.2 per cent a year (that’s inflation at 2.8 per cent less interest of 1.6 per cent) turning the spending power of each £100 into £98.80.   More... ASK TONY: I&#

0 View comments   The results of inflation polls on this website and the sheer weight of comments suggest millions of people do not believe official rates of inflation. At best, these readers argue that even if the consumer price index (CPI) is correct, it does not reflect their own situation. Official inflation figures are crucial as both public and private employers use them as a benchmark for wage rises. State pensions and other benefits are tied directly to inflation rates, albeit the previously prefered measure - the retail prices index (RPI). The Office of National Statistics runs an official personal inflation calculator. It is free, easy to use and aims to give individuals 'an indication of how inflation is affected by what they spend their money on'. Those using it are asked to enter various figures, such as monthly expenditure on food, childcare, petrol and heating bills. Try the calculator and tell us how you get on via reader comments... >&g

0 View comments Savings rate converter NET RATE This calculator allows you to convert gross interest rates on savings accounts into the net rate you will receive depending on whether you are a basic or high-rate taxpayer. Gross interest rate    % RESULT   Calculate A basic-rate taxpayer will receive    % A high-rate taxpayer will receive    % Best savings rates This is Money is home to the web's best savings tables. Unlike rivals, our tables are free from commercial bias and our savings expert strips out deals with catches so you always get the best account... General accounts (internet, branch, over-50s) Cash mini Isas Children's accounts Child trust funds National Savings Tessa transfer Isas Fixed-rate accounts Over-50s accounts (click and scroll down) Compare and apply: get the best savings accounts

0 View comments This calculator shows you how much you could save by diverting the cash you 'waste' on everyday items into a long-term savings plan. Remember: £10 a week equals £520 a year. function update(){ var numYears = document.getElementById('duration').value; var interestRate = document.getElementById('exp_annual_return').value; var numPeriodsPerYear = 12; var savingsAmount = 0.00; // monthly deposit var totalBalance = 0.00; var cigs = document.getElementById('cigs').value; var drinks_home = document.getElementById('drinks_home').value; var lottery = document.getElementById('lottery').value; var taxis = document.getElementById('taxis').value; var takeaways = document.getElementById('takeaways').value; var lunchtime = document.getElementById('lunchtime').value; var takeaway_coffee = document.getElementById('takeaway_coffee').value; var other = document.getElementById('other'

18 shares 10 View comments   How close have you been to winning your fortune on the Premium Bonds? Our unique calculator will try to show you. Other calculators may remind you how slim your chances are of winning but we recognise that everyone likes a punt. And unlike the official Premium Bonds calculator, you can enter your actual bond number - eg 123AB123456 - rather than your customer 'Holder' number.Our special algorithm will give your bond a score (0-100) depending on how close it is to a winning number. If your score is 100, you've won, perhaps!   Premium Bond Match Calculator Enter all or part of the bond number: Check latest draw only: Check all large prizes: Check Check the latest prizes: Premium Bond prizes For everything you'll ever need to know about Premium Bonds: Our 50 years of Premium Bonds round-up Premium Bonds guide Premium Bonds - rate of return calculator Five facts about Premium Bonds

0 View comments Saving for children can be easier than you think. If you can afford to invest the Child Benefit paid out for each child, you may be surprised to see how that can grow into a healthy lump sum over time.  function update(){ var numYears = document.getElementById('numYears').value; var numPeriodsPerYear = 12; var interestRate = document.getElementById('interestRate').value; var depositAmount = document.getElementById('depositAmount').value; var totalBalance = 0; // validate input if (!isValidNum(numYears)){ numYears = 0; } if (!isValidNum(numPeriodsPerYear)){ numPeriodsPerYear = 0; } if (!isValidNum(interestRate)){ interestRate = 0; }else if (interestRate != 0){ interestRate = (interestRate / 100); } if (!isValidNum(depositAmount)){ depositAmount = 0; } // check interest rate is specified so balance can grow if (interestRate != 0){ var interestRatePerPeriod = (1+ (interestRate / numPeriodsPerYear)); var totalNumPeriods = (numYears

0 View comments   var crsLngth; var fees; var termSpnd; var monthSpnd; var dailySpnd; var annualSpnd; var annualSpndRnd; var stuLoan; var savings; var trmWrk; var sumWork; var totalSpnd; var totalSpndRnd; var totalTermSpnd; var totalTermSpndRnd; var totalMonthSpnd; var totalMonthSpndRnd; var totalTermSpnd; var totalTermSpndRnd; var totalIncome; var annualExShrt; var annualExShrtRnd; var totalExShrt; var totalExShrtRnd; var termExShrt; var termExShrtRnd; var monthExShrt; var monthExShrtRnd; function round(number, plcs) { plcs = (!plcs ? 2 : plcs); return Math.round(number * Math.pow(10, plcs)) / Math.pow(10, plcs); } function invalChkr(Numtochk){ var ok = false; if ( !isNaN(Numtochk) && Numtochk != "" && Numtochk != undefined){ ok = true; } return ok; } function gtvls(){ fees = new Number(document.frmSF.fees.value); crsLngth = new Number(document.frmSF.crsLngth.value); stuLoan = new Number(document.frmSF.stuLoan.value); savings = new Number(doc