Savers can earn a market leading interest rate of 5.75% on an account, wiith one small catch. Account holders must open a mortgage with Tembo Money to earn the full variable interest rate of 5.75% on its HomeSaver account, which draws the interest from three pots.

The account "built for homeowners and buyers" pays a base variable rate of 3% every month. Savers can earn a further 12-month fixed bonus rate of 1.75% if they keep the account open for one year, taking the rate to 4.75%. The final 1% fixed rate comes from the HomeSaver Bonus, which is paid if savers open a qualifying mortgage through Tembo Money within three years of opening the account.

If someone deposits £1,000 in the account, and they qualify for all three pots of interest, their estimated earnings after one year are currently £57.50.

If they don't open a mortgage with Tembo, but still receive the 12-month introductory bonus, they could have £1,047.50 in their accounts after one year, if the interest rates stay the same.

However, the interest rate can go up and down as it is variable, so savers should be comfortable with this before they sign up. Tembo will give customers 14-days' notice when the interest changes.

Account holders can withdraw and deposit cash as they please, up to a maximum amount of £20,000, and they can open and manage the account via the Tembo App.

The Tembo HomeSaver is currently rated number one on Moneyfactscompare.co.uk for easy access savings accounts. However, other accounts are offering competitive rates too.

Sidekick is offering a 4.23% rate on its Multi Shield account, which brings the potential earnings just below Tembo's rate for savers who do not need a mortgage. It includes a six-month bonus rate of 1%.

Cynergy Bank is offering an Online Easy Access Account with a 4.22% rate, while Vida Savings is next on the ranking. Its Double Access Saver Issue 1 account is offering a variable rate of 4.16%.