UK savings deals: the heat is on as banks offer up to 8%

Don't delay in taking advantage of the competition that is pushing up interest rates and increasing choice, experts say

It is shaping up to be a decent summer for savers as fierce competition among providers pushes up interest rates and increases choice.

You can currently get instant- and easy-access accounts that pay up to 5% interest, and fixed-rate savings bonds that pay almost that much. Meanwhile, those looking for a regular savings account can now get up to 8%.