Teachers Building Society is offering a 7 per cent return to pounds 500 investors.
Allied Trust is offering the best Tessa rates at the moment. There is a pounds 25 transfer penalty, however, and two months' notice is required before a transfer can be made.
The next best returns come from the Manchester and St Pancras building societies. Both are offering 8 per cent. Manchester has no transfer penalties but St Pancras charges pounds 25 and requires 30 days' notice.