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New savings deals from Nationwide and HSBC mean those who prefer to bank with well-known names can now access competitive rates.

HSBC has boosted the rates on its one and two-year fixed-rate savings accounts.

Meanwhile Nationwide has gone further and boosted rates on four of its fixed-rate savings accounts and launched four new fixed-rate cash Isas for tax-free earnings.

The top rate out of the new deals is 4.7 per cent, which is offered by Nationwide on its five-year fixed-rate Isa. This is competitive – the best rate on a similar five-year Isa is 4.85 per cent offered by Vida Savings.

Our savings rates tables are primarily populated by smaller banks and building societies, plus digital challenger banks.

Earlier this year Lloyds Bank introduced competitive rates across its fixed-rate Isas and bonds but has since cut them.

Your money is protected under the Financial Services Compensation Scheme for up to £120,000 each provider. This limit applies to all the funds you have with the provider, rather than just the account.

Fixed-rate Isas:

Beyond being a household name, the benefit of Nationwide's Isas is that you can open an account with just £1. Each of the accounts offering the best rates listed above require a minimum of £1,000 to open.

You can transfer an Isa from another provider. It's also possible to withdraw money but you'd need to close the account completely and pay an early access penalty, equivalent to 60 days' interest for each year of the fix.

> Read more: The best cash Isa rates currently available

Fixed rate bonds:

HSBC's accounts require a minimum deposit of £2,000 and the maximum you can save is £1million.

You can open Nationwide's accounts with just £1 and deposit up to a maximum of £5million.

The HSBC accounts allow you to withdraw money by closing the account and paying an early withdrawal charge, while Nationwide doesn't offer any access to your money beyond an initial cancellation period.

> Read more: The best fixed-rate savings accounts available right now 

It's a good time for savers, with plenty of accounts launching offering strong rates.

In the last week alone we've reported on a new savings account from First Active, which is part of NatWest, paying 4.5 per cent variable. This includes a fixed 1.5 per cent bonus for 12 months.

The savings app Spring has also launched an account paying 5 per cent variable on balances between £10 and £5,000.

The best rate on an easy-access cash Isa is offered by investment platform Trading 212*, paying 4.56 per cent variable. This has a fixed 0.96 per cent bonus for 12 months.

It's also a flexible Isa, meaning you can withdraw money and replace it in the same tax year without reducing your Isa allowance.