So what's the best savings rate YOUR bank offers?

The big banks are now offering much better savings rates to existing customers – and it can take minutes to get them.

With over £600bn parked in current accounts and easy-to-access accounts paying less than 0.5%, you can easily get an interest boost from your bank.

Unlike opening an account at a new bank, you probably won’t need to go through identity checks because, as an existing customer, the bank already has the vital information they need about you .

Better rates: With over £600bn parked in current accounts and easy-to-access accounts paying less than 0.5%, you can easily get an interest boost from your bank.

Note that most banks have limits on how much you can deposit at the highest rate.

Here are the best deals…

HSBC

HSBC Online Bonus Saver pays 3% on up to £10,000, compared to just 0.65% on its Flexible Saver (this will drop to 0.9% tomorrow). The 3% account is open to its current account or savings account holders.

You only earn the 3% during the months when you don’t make any withdrawals. In those you do, you will earn 0.9%.

By transferring £10,000 into the online bonus saver, you can earn up to £300 in interest over the year, compared to just £90 if left in the flexible saver.

It also has a regular savings plan at 5% on deposits of £25 to £250 per month. A monthly deposit of £250 in the regular saver will earn you £81.25 in interest over the year.

Barclays

It’s Rainy Day Saver pays 5.12% on up to £5,000 and gives you easy access to your money. Beyond this level, you earn 0.5%.

You can open an account if you are a Blue Rewards member – this comes with a £5 monthly fee and requires online banking.

Interest on £10,000 here is £215 over the year less current account charges, which is £165 more than leaving it in Barclays Everyday Saver at 0.5%.

You can recover the fees by paying two direct debits from your checking account each month.

Barclays also has a best buy, one year cash fixed rate Isa at 4%, open to everyone and allows transfers in – £10,000 here means £400 interest. This Isa also allows three withdrawals during the year, up to 10% of the total pot.

Deposit limits: Most banks have limits on how much you can deposit at the highest rate.

Halifax

Halifax Reward Bonus Saver pays 2.55% to its Halifax Reward or Ultimate Reward current account holders. It costs £3 per month, but is free if you pay more than £1,500 per month.

If you withdraw £10,000 from its 0.55% daily saver, you will earn an additional £200 in interest per year. You will see £255 instead of £55.

But the best account comes with restrictions – you can only make a maximum of three withdrawals per year. Do more and you only earn 0.35%.

After a year, you have to transfer your money because it then goes to an Instant Saver account, which earns 0.55%.

The bank offers a similar offer on its Isa Saver bonus reward. Its one-year regular saver pays 4.5% on between £25 and £250 a month and is open to everyone.

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M Plus current account holders can use Virgin Money’s 2.52% savings account. That’s £252 interest on £10,000 versus £25 in his 0.25% daily saver.

The bank also offers the best one year fixed rate cash Isa at 4.25% for its Virgin Money, Clydesdale and Yorkshire Bank current account holders and 3% on an easy to access Isa.

That would mean £425 interest on his fixed rate Isa and £300 on his easy access.

Club Lloyd’s

Lloyds Club members can get 2.25% with its Advantage Saver.

You are limited to making up to three withdrawals per year from this easy-to-access account. If you withdraw more, the rate drops to 0.3%. Club Lloyds costs £3 per month, but is free if you pay more than £1,500 per month.

You’ll see £225 on £10,000, which is £175 more than leaving it in its normal Easy Saver or Standard Saver which pays 0.5%.

He also pays 5.25% on his Club Lloyds monthly saver on £25 to £400 a month, or 4.5% on his standard monthly saver for other current account holders.

Holders of Bank of Scotland Vantage current accounts are also eligible for the 2.25% benefit, as well as a 4.5% monthly saver.

Convenient: As an existing customer, you probably won’t need to go through identity checks, as the bank already has the vital information about you that they need

At national scale

For no-fee Flexaccount holders, Nationwide offers the Flex Instant Saver 2 at 2.25%.

In a regular easy access account with a building society, the best rate is 0.75% up to £10,000 and 0.8% up to £10,000.

You’ll earn £145 in extra interest by transferring £10,000 into the Flex Instant Saver 2.

Santander

Those with its new Edge checking account can get 4% on balances up to £4,000. This account comes with a monthly fee of £3.

You will earn £124 in interest over one year on the higher amount. That compares to just £22 if you leave it in its Everyday Saver account.

Natwest/RBS

With NatWest and RBS Digital Saver, which pay 5.12%, you can only deposit a maximum of £150 per month. You can keep saving and earning this rate until you hit the £5,000 mark.

If you deposit £150 per month from your checking account, you will earn £49.70 in interest within the year.

If you leave that £1,800 saved over the year in the banks easy access account, your interest will only be £11.70.

sy.morris@dailymail.co.uk