What 5% savings accounts are available? Everything you need to know

• Savings accounts offering five per cent interest have made a return, providing a significant boost for savers.
• However, the offering is not everywhere, with Moneyfacts data highlighting that on 30 July, the average easy access savings rate was just 2.56 per cent.
• Examples include Revolut and Lemfi offering 5 per cent for limited periods or new customers, and Cahoot's Sunny Day Saver for balances up to £3,000.
• Fixed-term accounts, such as Investec's three-year saver and Atom Bank's five-year term, are also firmly in the 5 per cent territory for the first time in two years.
• Caitlyn Eastell, personal finance analyst at Moneyfactscompare.co.uk, said: “Fixed bonds are designed for those who are comfortable locking their money away for the full term, so savers should ensure they won’t need to access their cash before committing.”

IN FULL

5% savings accounts are finally back – here’s where to get the best deals