However, while the savings market as a whole remains highly competitive, focus seems to have turned to the easy access arena in recent weeks. Experts are warning that fixed rates are likely to be at or near their peak and that the leading rates may not be around for much longer. So if you're thinking of locking in to a fixed rate, don't delay.
Barnsley, Principality and Coventry building societies have all pulled fixed rate deals in the past few days.
Barnsley, for example had been offering the market-leading five and three-year fixed rate bonds at 5.4% and 5.0% respectively, but they've been withdrawn. Its best buy four-year bond at 5.15% is being pulled at the end of today.
The society has launched two new online fixed bonds but the rates are significantly lower - the new three-year bond has a rate of 4.15% and it is also offering a one-year bond at 3.10%
Kevin Mountford, head of banking at moneysupermarket.com, said: "If you want a fixed savings account, don't hang around in the hope rates will climb higher as that's unlikely to happen. The recent withdrawals from the market emphasise the fact that these products have limited availability, so take advantage of the remaining high rates while you still can."
What's left?
There are still some attractive fixed rates available. The leading three-year deal is ICICI Bank UK's fixed rate HiSave account, which is paying 4.60%, while Cheshire Building Society has a three-year rate at 4.50%.
In the two-year market, ICICI and The AA are both paying 4.35%, while Birmingham Midshires has a deal at 4.25%.
Bear in mind, however, that the reason fixed rate savings accounts tend to be higher than those on variable rate deals is because you sacrifice some flexibility in return - you cannot usually access your money during the fixed term. Therefore, this type of savings account won't suit everyone.
Keeping your options open
The good news, if you'd prefer to retain access to your savings, is that it's the easy access market where the main competition is now at.
Kevin added: "Recently we've seen much of the activity in the savings market move from the fixed rate bond arena to easy access accounts. That's where providers currently seem to be focusing their attention and where we are seeing many of the new product launches."
So what's out there? Coventry Building Society's 1st Class Postal account pays 3.30% on investments of £1,000 or more, though this does include a 1.3% bonus for the first 12 months. It's also worth noting that, while this might be a market-leading rate, the deal comes with a number of restrictions. For example, savers are limited to four withdrawals each year and the minimum you can withdraw at any time is £1,000.
Savers more comfortable managing their money online might look at Egg's Internet Saver, which pays 3.25% on balances of more than £1. But again, bear in mind the headline rate incorporates a 2% bonus for the first 12 months - though this is fixed so can't fall lower.
Other leading easy access accounts include Alliance & Leicester's Online Saver Issue 5 and Birmingham Midshires' Telephone Extra Account which are both paying 3.15% - again, bonuses apply for the first year.
Shop around
At the very least, this clearly demonstrates the importance of shopping around - not only for the best interest rate but the best type of savings deal for you. After all, what other weapon do savers have against the most stubbornly low base rate in the Bank of England's history?
Disclaimer: Please note that any rates or deals mentioned in this article were available at the time of writing. Products underlined can be applied for directly.
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