Savings rates are rising (hurrah!) – but you wouldn’t know it looking at a whole raft of popular accounts.

The top rates on most easy-access accounts – both ordinary and Isas – have barely budged in recent weeks.

Meanwhile, fixed-rate deals are becoming increasingly attractive.

Unfortunately, savers have turned their backs on these fixed-rate accounts while pouring money into easy-access ones with the expectation of rising rates. 

But now fixed rates have surged, you are likely to be better off here, even if base rate rises at the next Bank of England meeting on June 18, as expected. 

You can now bag 4.85 per cent with a one-year fixed-rate bond with MBNA. And fixed-rate Isas are not far behind, with the top 4.66 per cent tax free from Vanquis Bank.

The big Isa providers have also bumped up their fixed Isa rates.

You can grab 4.55 per cent on the High Street or online for one year with Halifax, Lloyds and Bank of Scotland or 4.5 per cent with Nationwide.

That’s up to 0.85 percentage points more than a couple of months ago.

Lloyds, Halifax and Bank of Scotland Isas let you take your tax-free interest monthly rather than just once a year, which could suit some retirees.

Meanwhile, rates on easy-access accounts have been flatlining – all down to the difference in the way they are priced.

Fixed-rate accounts reflect what professional money market traders think will happen to interest rates. They are in no doubt they will go up and that is already reflected in today’s fixed-rate offers.

Easy-access accounts are more aligned to the current Bank of England base rate. This has been frozen at 3.75 per cent since December.

It is expected to rise, but there is no guarantee that the rise will be passed on to you. Often providers come out with fresh accounts paying higher rates to new savers after a base rate rise, leaving loyal savers on the old lower rate for months.

The top easy-access account pays 4.3 per cent on up to £20,000 from app-based account Spring without any bonus or withdrawal restrictions.

If you are lucky (which is highly unlikely) and get the full 0.5 point expected rise later this year, your rate will be 4.8 per cent. 

But you will forego the extra interest you can earn right now on a fixed-rate deal while you wait for any pickings from a rate rise.

On the other hand, with a fixed-rate bond or Isa you have the benefit of knowing exactly how much interest you will bag.