Banks are paying more on savings. Here's how to make your idle cash work harder.

Originally reported as: “Lenders lift deposit rates as competition for funds intensifies”

Several banks have started offering higher interest rates on savings accounts and time deposits, meaning your parked cash can earn more than it used to. This often happens when the central bank's rates are elevated or when banks compete harder to attract deposits. For savers, it's a rare bit of good news, since the same balance can now generate more interest. The catch is that rates vary a lot between banks and products, so it pays to compare rather than leave money sitting in a low-rate account out of habit.