Top savings deals selling out fast

Andrew Hagger of Moneynet.co.uk looks at developments in the savings market during the last seven days.

Here at Moneynet, we've started to see an increase in interest rates across all savings product areas, however the best priced deals are being oversubscribed within a matter of days in some cases.

The 3.05% online easy access saver from Leeds Building Society launched on 24 June has now been pulled - lasting barely 2 weeks.

Many over 50's savers will be even more disappointed to learn that the market leading 50 plus e-save account launched last Friday by Coventry Building Society paying 3.25%, has been taken off the shelves after just 5 days.

It's not all bad news, particularly in the fixed rate market where Barnsley Building Society have now established best buy top spot with a 5.10% bond for five years, and unlike some of the recently launched fixed rate bonds, the opening balance requirement of just £100 makes the product accessible to all savers.

If five years is a fix too far then ICICI Bank UK may be able to tempt you with an improved rate of 4.60% (previously 4.35%) for three years.

The savings market is pretty frenetic at the moment, so if you see an account that takes your fancy it pays to act fast otherwise you may be disappointed.