Savers have reason to be cheerful as rates are rising from all-time lows across almost all deals.
Interest rates fell to record depths this year due banks' worrying about the pandemic and record low Bank of England base rate.
But now these interest rates are starting to edge upwards again.
Two of the most popular products with savers are easy access accounts and one-year bonds - and both are seeing rate improvement.
A spokesperson for financial experts Savings Champion said: "The biggest increases have been seen in the fixed rate bonds fields."
The top one-year bonds now both pay 1.01%, from Kent Reliance and Vanquis Bank. Savers must have at least £1,000 to take out either bond.
But four weeks ago the best rate was 0.9%, from Cynergy, and for much of the year it was just 0.6%.
The top easy access account rate is now 0.5%, offered by four lenders - Charter Savings Bank, Marcus, Cynergy Bank and Coventry Building Society. A month ago the best rate was 0.4%.
Banks and lenders are raising around 10 rates a day at the moment, according to Savings Champion.
Since June 1, it said 14 easy access accounts had seen a rate rise, 9 easy-access ISAs, 68 fixed-rate ISAs and an astonishing 194 fixed-rate bonds.
A good example is the one-year bond on sale from bank Zopa.
On June 2 this paid just 0.76%. But that was increased to 0.81% on June 15, 0.95% on June 18, 1.06% on July 1 and then down slightly to 1% now.
But the elephant in the room is that no savings deals pay enough to beat inflation.
The Office for National Statistics (ONS) said the Consumer Price Index measure of inflation hit 2.1% in the year to May, up from 1.5% in the 12 months to April.
Even the top rate on a five-year fixed rate bond is only 1.66%, from UBL.
For those who are lucky enough to have cash squirrelled away, rising inflation is a big problem.
If the cost of inflation is higher than the interest rate you can get on your savings deals, the value of your cash loses spending power.
But savers shouldn't lose faith. Cash has to be kept somewhere, and it makes sense to shop around and pick a deal with the best rate to reduce the harm inflation does to your money.
The main reason for low savings rates is that the Bank of England cut its base rate to new lows of 0.1% last March.
This rate rate is factored into the savings rates paid by banks, and many cut theirs in response.
How does inflation work?
Inflation tracks the changing monthly cost of a ‘basket’ of goods and services, such as food, clothing and fuel.
To make the sums easy, this basket is limited and tweaked according to consumer trends.
It is a broad, useful way to monitor how much it costs to buy things.
But, because the basket excludes most items, it may have little relevance to you.
For example, someone who doesn't own a car and hasn't bought any clothes, shoes, CDs or DVDs will have been mostly unaffected by the May inflation rise.
But if inflation continues to rise it will catch all of us eventually, so it is worth thinking about ways of offsetting this.
