Higher interest rates may have hit borrowers – but it’s a good time to be a saver. Interest rates on savings accounts are at highs not seen for more than a decade, with average returns finally beating inflation. There are a few different types of savings account to choose from, giving different levels of access and returns, plus savers can also ensure they pocket any returns tax-free by using an Isa. Savers can earn 3.12pc on an easy-access account or 4.58pc on a one-year fixed rate. Isa savers can earn 3.33pc on an easy-access Isa and 4.42pc on a fixed rate. So when it comes to an Isa versus savings account, where is the best place to stash your cash? An individual savings account or Isa lets you put money away and earn any returns tax free. The two most popular types are cash Isas, which pay a fixed interest rate, and stocks and shares Isas, where you put your money to work through investing in listed companies or funds and any growth is tax-free. It is also possible to back peer-to-peer loans through an Innovative Finance Isa, or to save for a mortgage deposit or your retirement using a Lifetime Isa. Most savers will compare the...