Rate alert: Coventry ups the ante with top-paying account Last week the Co-operative Bank increased the rates on its fixed-rate savings, making all three bonds on offer market leaders. The one-year bond pays 3.5pc, the two-year bond pays 3.75pc and the three-year bond pays 4pc. The minimum balance is £1,000 and for those who are looking for regular income from their deposits, savers can elect to have interest paid monthly. You can apply in branch, by post, online or by phone on 0800 028 4470. Verdict: "This is an aggressive move from the Co-operative Bank, which now occupies number one slot in the fixed-rate savings market for one, two and three-year terms," said Andrew Hagger, spokesman at Moneynet.co.uk. "With the growing level of bad feeling towards some of the high street banking giants in the last couple of weeks, this is perfect timing from a provider which has long been respected for its ethical stance," he said. Cheshire Building Society has launched a new version of its Direct Cash Isa (Issue 4) paying 3pc. Available for those with a minimum of £1,000, this rate includes a bonus of 2pc until January 31, 2014 and transfers in are not permitted. Balances below £1,000 earn a rate of 0.25pc, however withdrawals are not restricted. "The replacement Direct Cash Isa Issue 4 means that the Cheshire Building Society has dropped out of the best buy tables," said Ms Bowes. Quite simply, there are better deals available elsewhere. Savers looking for a more competitive rate on a variable Isa should look to M&S Advantage Cash Isa, which pays 3pc with no bonus rate attached. Transfers in are permitted and there is no restriction on the number of withdrawals is not restricted. Available on a minimum lump sum of £100 or direct debit of £25 per month. For details, visit money.marksandspencer.com or call 0808 002 2222.