Rate alert: inflation beating savings deals Falling bond rates Aldermore falls out of the best-buy tables this week by reducing the rate on its one-year fixed-rate bond from 3.25pc to 3.1pc for those with a minimum deposit of £1,000. If savers' balances dip below this amount, just 0.5pc interest will be paid. The bank has also withdrawn its 120-day notice account, which paid a rate of 3.2pc. Verdict "Another week, another best-buy product falling out of the tables," said Susan Hannums of SavingsChampion.co.uk. This time it's Aldermore with a reduction in its one-year fixed rate and the withdrawal of its 120-day notice account. Savers need to act quickly as these best-buy deals aren't lasting long. For those looking for a one-year fixed-rate bond, Close Brothers Savings Select Gold is paying 3.3pc if you have £10,000 to invest. For savers who have less to save, the Post Office One-Year Growth Bond pays 3.25pc for those with a minimum deposit of £500. For further information on these accounts, visit closesavings.co.uk (020 7392 1772) or postoffice.co.uk (0800 169 7500). Earn mortgage cashback From Monday, borrowers with Santander loans can earn 1pc cashback on their mortgage payments with the 123 Current Account. Borrowers who pay their mortgage by direct debit of up to £1,000 a month can potentially earn £120 a year on their spend. This account also pays cashback on other household bills paid by direct debit - for instance, 1pc on water and council tax, 2pc on gas and electricity and 3pc on mobile phones, landline, broadband and paid-for TV packages. Additionally, the 123 Current Account pays in-credit interest on the whole balance of up to 3pc once savers have more than £1,000 in their account, up to a maximum balance of £20,000. Visit santander.co.uk for more information. Verdict Thumbs up if you are always in credit. Even with the £2 a month fee, those with a hefty mortgage could easily make a profit from their home loan payments alone. However, as with all accounts, it is crucial to read the small print. For instance, with this account you must have a minimum monthly income of £500 and two direct debits set up, while the in-credit interest is tiered, at 1pc on balances over £1,000, 2pc on £2,000 and 3pc on £3,000. Bear in mind that those who slip into their overdraft will negate any earnings, with a charge for an arranged overdraft of £1 a day, capped at 20 days, or for unauthorised overdrafts at £5, capped at £95 per monthly statement period. Go online for better rates Last week Saga withdrew its market-leading easy-access Telephone Saver (issue 5), which paid 3pc, and replaced it with an account paying just 2.75pc - or 2.72pc if savers take the monthly income option. Available for those with a minimum deposit of £1, savers can manage this account by telephone but can apply online. Unlimited no-notice withdrawals are permitted using a linked account. Verdict Saga's Telephone Saver was one of the last easy-access accounts paying 3pc and the rate cut on its new issue sees it fall out of the best-buy tables. Bear in mind that the account also comes with a hefty bonus of 2.25pc, so it's important to make a note in your diary to move the money after 12 months, as the rate will fall to just 0.5pc. For those savers looking for a higher rate on an account with telephone access, ING Direct's Savings Account (ingdirect.co.uk or 0800 376 8877) is available for new customers and pays 2.86pc. This includes a bonus of 2.36pc for 12 months. However, those who are happy to operate an account online can find higher rates: for example, the Post Office's Online Saver pays 2.95pc on deposits of more than £1. While this account does include a bonus, it is significantly less than accounts above - just 1.3pc. For further information, visit postoffice.co.uk or call 0800 169 7500. Supermarket saver And finally some good news: Sainsbury's Bank has increased the interest rate on its cash Isa from 2.8pc to 3.01pc for new accounts. The account does not include a bonus rate, balances start from £500 and transfers in are permitted. Open to new and existing customers, the account can be opened and managed online or by phone and imposes no withdrawal restrictions. As this is a cash Isa, the maximum that can be invested this tax year is £5,640. As with other Isas, though, savers should remember that if they have paid in their full allowance, any amount withdrawn cannot be replaced during the same tax year. For more information, visit sainsburysbank.co.uk or call 0500 405 060. Verdict While not a market-leading rate, this account does not include a bonus. The current best buy comes from Manchester Building Society's Platinum Instant Isa, which pays 3.06pc. However, it comes with a 1.05pc bonus rate that is payable for the first 12 months. So for those who don't chase rates and switch their Isa every year, the Sainsbury's deal is likely to offer better long-term value.