Spotlight: The Cheshire's 30-Day Postal Saver Account

Many of the leading savings rates have been reduced or pulled in recent weeks as we head towards the year's end. However, Cheshire Building Society has bucked the trend. It has cut the rate on its 30-Day Postal Saver Account from 3.00 per cent to 3.25 per cent. It's a market-leading deal for this kind of account, with the next-best account paying 2.90 per cent.

Of course, there are things to watch for. A minimum deposit of £1,000 is required and, as the name suggests, you must give 30 days' notice before a withdrawal can be made and you can make only four withdrawals a year. If you do more than that, the interest rate drops to 0.10 per cent. The 3.25 per cent headline rate includes a 12-month bonus. After a year it drops to 2.25 per cent, so check the market and see if there's a better account for your money at that time.

If you want more flexibility and an account that allows unlimited withdrawals and immediate access to your money, an easy-access account will be a better option. But be aware that the top easy-access rates are currently slightly lower than that on the Cheshire deal.