From The BBC:
More savings accounts offering interest rates matching or exceeding the base rate are available to consumers than in previous years.
Some 28% of easy access accounts offer a rate of 5% or more, compared with 8% that offered rates equal to, or above, the base rate two years ago.
The figures from analysts Defaqto show that banks are trying to attract savers during the credit crunch.
Meanwhile, new guidelines have been issued to quicken the transfer of Isas.
The banking industry has agreed to speed up the transfer of cash between these tax-free accounts.
Defaqto’s analysis showed that 28% of accounts were paying equal to or more than the Bank of England interest rate of 5% for deposits of £5,000.
This compared with 21% at the same time last year, 8% in August 2006, and 19% in the same month of 2005.
But the group said that savers needed to be alert to the fact that relatively few accounts did not have any restrictions, such as when customers try to withdraw cash.