We have an instant access savings account, well two in fact, from Santander which gives 6% which is way ahead of anything PBs returned for us.
The savings account is only available to c/a holders.
That seems a very good deal so I checked it out. The 6% figure includes a 1.5% bonus for the first year and anything over £4k gets 0% interest. It's a bit like the 1 year 7% interest rate account I had, you could only invest £300 per month, so each months investment would only earn the 7% for the remaining months of the fixed term.