along with Current Accounts, Monthly Savings Accounts are seeing their rates dropping.
i have a Club Lloyds Monthly Saver which is currently paying 4%, but when it matures next month the rate to continue would be 3%, so i'm not going to bother. i'm currently saving into HSBC and M&S accounts at 6% and Nationwide at 5% too. as it stands, at maturity, all would be renewable at 5%.
i'm going to set a 5% baseline and anything at or above 5% i'll take
they're useful for building up a little lump sum, and bagging some interest, but below 5% i don't think they're worth the hassle.