First direct is the latest bank to up interest rates following the Bank of England base rate increase in September.
The bank has increased savings rates across its range of products which should benefit those who are looking to get more from their savings.
In addition, customers can also make the most of the £175 in cash to all new customers switching to a 1st Account with the bank.
The cash bonus is available to all new customers who switch their full banking to first direct using the Current Account Switch Service (CASS) and pay in at least £1,000 within three months of opening the account.
READ MORE: Britons can earn 5% on their savings for the first time in 10 years