New easy-access savings account from West Bromwich Building Society offers competitive rate of 1.3%

New deal: West Bromwich BS is offering an easy-access account at a competitive rate of 1.3 per cent

New deal: West Bromwich BS is offering an easy-access account at a competitive rate of 1.3 per cent

West Bromwich BS is offering a new easy-access account from today at a competitive rate of 1.3 per cent.

It comes with a bonus payable until October next year. Afterwards, the rate drops to 1 per cent. The account is only available online.

Elsewhere, savers are still suffering a series of cuts - or top-rate deals are being withdrawn from sale.

Savers in M&S Bank easy-access Advantage Cash Isa are the latest victims. 

Their rate falls to 1.1 per cent from its current 1.3 per cent on July 28. It has also cut its fixed-rate deals to as little as 1.1 per cent for a year.

Virgin Money no longer offers its Defined Access cash Isa at 1.31 per cent - it closed it to new savers at the start of this week.

And Yorkshire BS’s Triple Access Isa at 1.3 per cent disappeared last night. The society says it has seen very high demand for the account.

The top easy-access cash Isa deal now comes from Sainsbury’s Bank at 1.3 per cent, available over the phone or internet.

Coventry BS also pays 1.3 per cent on its Easy Access Isa 3, which is on offer online, through its branches, or by post. But you can’t transfer existing cash Isas into this account.

In the High Street, Virgin Money still pays 1.11 per cent on its Easy Access Cash Isa Issue 15, and Nationwide 1.1 per cent on Instant Isa Saver Issue 6, and both accept transfers.

Top fixed-rate deals come from Britannia, part of Co-op Bank - 1.4 per cent for one year or 1.5 per cent for two years.