Currently, there are four providers offering a two percent AER interest rate via a regular savings account.
These are from Nationwide Building Society, Newcastle Building Society, TSB, and West Bromwich Building Society.
The Bank of England’s Monetary Policy Committee (MPC) last month announced the increase of the Base Rate from 0.1 to 0.25 percent.
Outside of this change, savers with their cash in a flexible account would perhaps have noticed it’s been a “very volatile” year of interest rate changes, Rachel Springall, Finance Expert at Moneyfacts.co.uk, said.
She said that despite interest rates falling to record lows on average, the market had been showing “green shoots of recovery”.