UK savings accounts offer up to 8%

Fierce competition among UK banks is increasing interest rates on various savings accounts, with some offering up to 8% for regular savings and 5% for easy-access accounts. The number of accounts paying above the Bank of England base rate has reached its highest in over six years, providing more options for depositors. Fixed-rate bonds also offer attractive rates, with some providers offering nearly 5% on one-year terms, while online banks like Marcus and Atom Bank present some of the highest fixed yields. Savers are encouraged to act proactively to maximize returns amid rising interest rates.

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