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Top Savings Accounts

3% easy access, up to 3.06% fixed

By Martin

Updated Daily

In a world of rock-bottom interest rates, you need to make sure you put your money into the right type of savings account with the best possible rate. Yet there are several different types, and bizarrely, the best savings rates are now on current accounts.

This guide will take you through the maze to find the most profitable home for your cash – and keep it safe.

12 need-to-knows before you pick a savings account

A savings account is just a place to dunk cash to earn interest and save for the future. But don't just go for the headline screaming the highest rate without first examining how it works and what the alternatives are.

  • From 6 April most people's savings will be tax-free

    Currently for every £100 interest earned, basic rate taxpayers lose £20 in tax, higher rate £40. Yet from 6 April the new personal savings allowance means every basic rate taxpayer can earn £1,000 interest without paying tax on it, which government stats say mean 95% of people won't pay any savings tax.

    It'll be automatic; from 6 April you'll be paid interest gross (ie, with no tax taken off). 

    Higher (40%) rate taxpayers get a £500 personal savings allowance, but additional (45%) taxpayers don't get any. For full info and what to do if you'll earn over the limit see our how the personal savings allowance works guide.

  • If you've costly debts, pay them off before saving

    If the interest cost of your debt is more than you'd earn on savings (after tax is deducted) you're better off paying down the debt. If you've £1,000 on a credit card at 20% it costs £200 a year, assuming a constant balance. In savings at 2%, you'd earn £20 a year, so you'd be £180 a year better off repaying the card. Much more info in Should I Repay Debts With Savings?

    Quick questions

    What if I have a 0% card or a really low rate?

    Shouldn't I have an emergency fund?

  • If you've got a mortgage, check if you should overpay it before saving

    This is the same principle as above: if the mortgage rate is higher than the savings rate after tax, and you can spare the cash, overpaying is a solid financial decision. However, there are possible complications, such as penalties for paying too much...

    Quick questions

    Will I always be allowed to overpay and is there a limit?

    If I overpay my mortgage can I access that extra cash again?

  • Have you used your 2015/16 ISA allowance yet? It allows you to save without paying tax on interest

    A cash ISA is simply a savings account where you don't pay tax on the interest. Anyone aged 16 or over can put up to £15,240 into their cash ISA during the current tax year, with the threshold rising each April in line with inflation.

    Traditionally this was the first place for taxpayers to put a lump sum, yet the new personal savings allowance, starting on 6 April means all savings will be tax free up to a set limit (£1,000 interest for basic rate taxpayers, £500 for higher rate).

    Therefore ISAs are no longer a no brainer option; read Martin’s are ISAs worth it? blog.

    Quick questions

    Isn't my money locked away in an ISA? (That's a common myth – it's not)

  • Are you willing to switch bank account? You can boost savings rates

    Surprisingly, some banks’ current accounts pay a higher rate of interest than their savings accounts – these are currently the top rates available, other than specialised exceptions. You’ll often need to switch bank account to take advantage, and pass a credit check. For a selection, see our top pick bank account section below, or for a full range of accounts, see the Best Bank Accounts guide.

    Quick question

    You said to put cash into an ISA, now you're telling me a bank account's best. Which is it?

  • Can you put money aside each month? Consider a regular saver

    This is a specific product for putting £10-£500 in every month (maximum deposits vary by account). If you want to save more, combine a few. The main advantage is they tend to pay much higher rates of interest than standard deals. For more details and best buys, see the full Regular Savings Accounts guide.

  • Can you lock the cash away? Fixed savings give a (slightly) better return

    You may want to consider getting a fixed rate savings account where the amount you earn is set in stone over a fixed time period. However, you can't usually access the cash during that time, and even if you can, the penalties can be large.

    Usually fixed rates are higher than easy access, so they can be good deals. However, if normal savings rates were to increase during that time, you'd be unable to ditch and switch to a better payer. See the full top fixed rate savings section.

  • Up to £75,000 in savings per person is safe in UK-regulated accounts

    Ten years ago, we wouldn’t have had to stress this so clearly. No bank had collapsed in 100 years, but then the credit crunch and global market turmoil hit. After the calamities that hit Northern Rock, RBS, the Lloyds group, Bradford & Bingley, Icesave and Kaupthing, every sensible saver should ask: "Is my money safe?"

    Provided the money is in a UK-regulated bank or building society, it's protected under the Financial Services Compensation Scheme (FSCS) for up to £75,000 per person. Read more in the Are My Savings Safe? guide.

    Quick questions

    What counts as UK-regulated?

  • Until 6 April, you pay tax at the same rate on savings as you pay on what you earn

    Unless your combined earnings and savings interest is under the £15,600 allowance (it's higher for over-80s, see the Income Tax Checker), you'll pay tax on your savings interest (apart from cash ISAs and a limited number of other products). However, this will all change from 6 April 2016 with the introduction of the personal savings allowance.

    Interest rates are usually quoted before tax, so basic rate taxpayers need to take 20% off the rate; for higher rate taxpayers it's 40% and for additional rate taxpayers 45%.

    If you earn under £15,600 from income and/or any savings interest, you can now register to get all savings interest paid gross - that is, the bank won't take tax off before paying it to you. For more information, read our quick tax-free savings briefing.

  • Ditch and switch after introductory 'bonus' rates end

    These are temporary interest boosts to attract new customers. They're actually a good thing for many, as they effectively act as a minimum rate guarantee during the introductory period, promising you at least some interest.

    But it is vital to diarise the end date and switch as soon as the bonus ends, so you don't languish on a rubbish rate. Always know your account's exact name and the rate it pays as some try to flog you a similarly named deal at bonus-end.

  • In a couple? Put savings in the name of the partner who pays less tax

    If one of you pays a lower rate of tax than the other, it's financially worth considering whose name you save in (but ONLY if you trust them). Put it in the lower rate taxpayer's name and you'll get more interest. There's nothing stopping married couples or civil partners moving money between them.

    If you're not married, there's no tax on giving your partner a 'gift' – though once the money goes across, be aware it becomes their cash, not yours. The only extra issue here would be inheritance tax. If the person who gave the cash dies within seven years the surviving partner may be charged tax.

  • Got kids? Encourage them to start saving

    If you’ve got children aged under 18, then you could consider opening a specialist savings account for them. Though they tend to mirror adult accounts (in that you can get easy-access, fixed-rate, ISAs etc), some of the current rates actually beat their grown-up counterparts. Plus, it can be a great way to teach your kids the merits of saving early.

    You can gift enough savings per parent tax-free to earn £100 interest each year – though open a Junior ISA and all interest is tax-free regardless. Other children’s savings options include Regular Savings, Easy-Access Savings and Fixed Savings.

Best BuysCurrent Account Savings

You used to need to avoid leaving cash languishing in a current account like the plague, such were the pitiful interest rates, but with some accounts, it's a different story. With savings rates so low, and current account providers desperate to seduce new customers, the top rates are in current accounts. But you often need to fully switch to get these rates, which means moving direct debits and standing orders.

Banks offer these as 'loss leaders', which means they throw money at you to get your current account business, after which they'll try to cross-sell you insurance and mortgages, where they make their big profits. But there's no obligation, just ignore the hard sell and max the current account interest.

Important info: Below are our top picks. But there are alternative bank accounts that pay decent interest, see our Best Bank Accounts guide for them.


Earn 3% on up to £20,000

£5/mth fee, but cashback more than covers it for most

If you can save £3,000-£20,000, the Santander 123* current account smashes virtually all other savings accounts out of the water. There’s also up to 3% cashback on household bills.

There are catches: you have to set up or switch direct debits and there’s a £5/mth fee. But used right you could make more than £530 a year in interest before tax, even with the fee, and another £80 in cashback.

  • The fee has recently increased from £2/month. Read Martin's thoughts on whether Santander 123's still worth it.

  • You get 3% AER interest if you’ve £3,000 to £20,000, 2% if you’ve £2,000-£2,999 and 1% if you’ve £1,000-£1,999 (nothing below £1k). You get that rate on your entire balance.

  • You must pay in £500/mth within a month of your statement date to get interest and cashback.

  • You can earn 3% cashback on landline, mobile, internet & TV bills; 2% on energy; and 1% on water bills, council tax & Santander mortgages, provided you pay them by direct debit.

  • You need at least two active direct debits (so not old, closed ones) on the account to get interest and cashback.

  • You can open two accounts, allowing savings of £40,000 at 3%, but the second must be a joint account. The same pay-in and direct debit rules apply to that account.

  • You’ll need to pass a credit check to get this account.

  • Santander shares its £75,000 UK savings safety guarantee with Cahoot.

Rate (paid on full balance): 3% AER variable if you've £3k-£20k; 2% AER variable on £2k-£2,999.99; 1% AER variable if you've £1k-£1,999.99; 0% under £1k | Fee: £5/mth | Min deposit: £500/mth to get the interest (within a month of your statement date) | Max deposit: None, but interest only paid up to £20,000 | Access: Online, mobile, branch or phone | Interest paid: Monthly | Withdrawal restrictions: Unlimited


How much cashback could I really earn? You get 1% cashback on water, council tax bills and repayments of up to £1,000/mth on Santander mortgages, 2% on bills from major gas and electricity suppliers, and 3% on mobile, home phone, broadband and TV packages. Santander has a list of qualifying suppliers (though it's worth checking with them about your suppliers, even if they're not listed).

We crunched the numbers on how this stacks up for low, average and high bill payers. After the fee, we worked out low users would be up by £11 a year, average users £79 and high users £190, even before savings interest's taken into account.

The cashback works best for those who have a mortgage payment of around £1,000/mth with Santander – but even without the mortgage payment, anyone with high bills will be able to make money from this account, even considering the fee.

Our table details how the account works for low, medium and high bill payers.

What will Santander charge me if I go overdrawn? Well, we hope if you're using this for savings that this won't be an issue. But, Santander's overdraft charges are middling. You'll get an interest-free overdraft for four months when you switch to the account. After that, it charges £1/day for arranged overdrafts, and £6/day if you go over your overdraft limit. There's a maximum charge of £95 in any calendar month.

How does opening two accounts work? You can only open two accounts if one is a single and one is a joint account – think carefully before doing this, as if you join finances, your partner's credit record affects yours.

This is great if you have up to £40,000 in savings and/or you have a second home with separate bills.

You'll have to pay the £5/mth fee on both accounts but the interest gains could make this relatively insignificant. But you'll still need to satisfy the £500/month pay-in requirement (you need to pay in from outside Santander). You must also have at least two direct debits set up on each account.


5% interest if you have £2,000 or less

TSB Classic Plus*

The TSB Classic Plus* current account is top if you’ve £2,000 or less to save, as you can get a whopping 5% AER. Unusually for a current account with perks, you don’t have to switch your own account, or set up any direct debits, you can just open this account as an extra.

You also get 5% cashback on the first £100 spent each month on contactless transactions on your debit card, meaning you can earn up to £5 per month as well as the in-credit interest.

  • You need to pay in £500 per calendar month and opt for online banking with paperless statements to get the interest.

  • If you’ve more than £2,000, you don’t get interest on anything above, so find another savings account for the extra, or check other bank accounts, such as Santander above.

  • You can have two accounts, allowing savings of £4,000 at 5%, but your second account must be joint. You’ll still need to pay in £500 a month to the second account too (and from an outside source, not from your first account).

  • You'll get 5% cashback on the first £100 spent each month on contactless transactions on your debit card up to 31 December 2016, as long as you're registered for internet banking.

  • You need to pass a credit check to get this account.

  • TSB has the full £75,000 UK savings safety guarantee.

Rate: 5% AER variable on up to £2,000 | Min deposit: £500 per calendar month to get the interest | Max deposit: None, interest only paid up to £2,000 | Access: Online, branch or by phone | Interest paid: Monthly | Withdrawal restrictions: None


How much will the overdraft cost me? Well, we hope as you're using this account for savings that you won't be using the overdraft. But, if you do, then TSB gives you a £25 buffer where you won't pay any fees or interest.

Go further into your overdraft, and it charges you 19.94% AER interest on your overdrawn balance, plus a £6 monthly usage fee for any month you use your overdraft. If you bust your overdraft limit by more than £10, you'll pay £5/day under £25 over limit and £10/day for £25+ over limit, to a maximum of £80 a month. There's also a £10 unpaid item fee (max 3/day) if you try to make more payments when you're over your limit.

Other top-interest paying current accounts

It's not just these two accounts that pay large. Seven bank accounts, including the two mentioned above, give you varying levels of decent interest (see below), and the one you pick should depend on how much cash you're likely to be able to keep in your account.

If you really want to max the interest, there's a way to cycle it around several accounts to get interest from all of them. Some who've used this technique get £50 or £60 in interest a month, after tax. See the 5% savings loophole guide for a full how to.

Do note there are bank accounts which will pay you up to £150 to switch, which beat some of the accounts below in the first year. See a full list of accounts that pay you to switch.

The top current account savings interest
For comparison, the top easy-access savings deal open to all pays just 1.55%.
In-credit interest (AER) After basic tax Max
interest /yr (1)
Min monthly pay-in How many can you have?
Santander 123 3% if you've £3,000-£20,000 2.4% £413 (after fee) £500 2 (2nd must be joint)
Club Lloyds 4% if you've £4,000-£5,000 3.2% £157 £1,500 2 (2nd must be joint)
Bank of Scotland 3% if you've £3,000-£5,000 2.4% £118 £1,000 3
Nationwide FlexDirect 5% on up to £2,500 for 1yr (2) 4% £98 (yr1) £1,000 2 (2nd must be joint)
TSB Classic Plus 5% on up to £2,000 4% £78 £500 2 (2nd must be joint)
Tesco Bank 3% on up to £3,000 2.4% £71 None 2
Halifax £5/mth (3) £5/mth £60 £750 2 (2nd must be joint)
(1) After basic tax if you always held the max balance+. (2) 1% after. (3) Paid regardless of balance, as long as you stay in credit. The £5 is classed as after having paid basic rate tax. So higher taxpayers will lose some of the gain.

Best BuysEasy Access Savings

An easy access account does what it says on the tin. Usually. The main idea is you pay cash into them, they pay you interest while the money’s in the account and you can withdraw whenever you want.

But interest rates are usually lower than on notice and fixed savings accounts, because you pay for the flexibility to withdraw your cash at any point.

Quick questions (show allhide all)

When is an easy access account not easy access?

What's the difference between an account with a bonus rate and one without?

Can I get a savings account that lets me withdraw cash from ATMs?

My building society has a better rate than accounts here. Why isn't it featured?

How can I avoid paying penalties on withdrawals?

Virgin Money logo

High rate but limited withdrawals

Virgin Money – 1.41% AER

The easy access account from Virgin Money lets you open it with £1, although you can only make three penalty-free withdrawals per year - any more and the rate drops to 0.75%. You can get a higher rate of 1.55% with RCI Bank below, though they're not protected by the UK FSCS but the French scheme, so read the details before you choose.

  • You can make three penalty-free withdrawals per year from this account. Any more and the rate drops to 0.75%

  • There is no bonus on the account, so the rate could drop at any time - keep an eye on it and switch if this happens.

  • The account can only be opened and managed online.

  • Virgin Money has the full £75,000 savings safety protection.

Rate: 1.41% AER | Min deposit: £1 | Max deposit: £250,000 | Access: Online | Interest paid: Annually or monthly | Withdrawals: Three/yr

Shawbrook logo

Slightly lower rate but allows unlimited withdrawals

Shawbrook Bank – 1.3% AER

The easy access account from Shawbrook Bank has a slightly lower rate than the Virgin Money account above, but lets you make unlimited penalty-free withdrawals from it. You do need £1,000 to open it, though.

  • You can make unlimited penalty-free withdrawals from this account, but they have to be at least £500.

  • There is no bonus on the account, so the rate could drop at any time - keep an eye on it and switch if this happens.

  • If your balance drops below £1,000 you'll earn just 0.05% interest.

  • The account is opened and managed online.

  • Virgin Money has the full £75,000 savings safety protection.

Rate: 1.3% AER | Min deposit: £1,000 | Max deposit: £75,000 | Access: Online | Interest paid: Annually or monthly | Withdrawals: Unlimited

Here from the weekly email? The rate has since dropped from 1.65% to 1.55% on RCI's easy access account.

RCI Bank

Highest easy-access rate but your money isn't UK FSCS protected

RCI Bank – 1.55% AER*

New savings player RCI Bank's* Freedom Savings account pays the highest rate on savings, for those who need easy access to their cash.

But we've not listed this account at the top of our best buys. This is because you need to be aware that any money in this account is NOT covered by the UK’s FSCS protection scheme as the bank's owned by French car manufacturer Renault. Instead, it’s covered up to €100,000 by France's protection scheme - if anything did happen to the bank it may be harder to get your money back.

So, before you stash your savings in it, you need to think carefully as to whether you want to save with them.

  • The rate on the account is variable, so the provider could drop it at any time. If it does, transfer out to a better payer.

  • The account can only be opened and managed online.

  • You can make unlimited penalty-free withdrawals from the account.

  • RCI Bank also have a decent two-year fixed account paying 2.25% and a three-year fixed account paying 2.6% - though remember these are also not UK FSCS protected.

  • RCI Bank protects your cash up to €100,000 using France's FGDR scheme, and not the UK's FSCS.

Rate: 1.55% AER | Min deposit: £100 | Max deposit: £1 million | Access: Online | Interest paid: Monthly or Annually | Withdrawals: Unlimited

Got £75,000+? How to spread cash for safety

Remember, cash in all the accounts above is protected up to £75,000 per person, per financial institution. If you’re lucky enough to have more than this, it’s best to spread savings across several different banks in case one gets into difficulty. We’ve picked a selection of the other top payers…

See list of other top paying accounts

Best BuysNotice savings accounts

You can often boost the interest rate from the easy access accounts above if you’re able to wait a little to get your hands on your savings. Generally, the more notice you can give, the better the rate you’ll get.

Quick question

Do I always have to give notice on these accounts?

Paragon Bank

Boost your interest rate, but only if you can wait 120 days for your cash

Charter Savings Bank – 1.8% AER

Charter Savings Bank’s 120-day notice account allows you to boost rates to beat easy access deals, but you need to wait more than three months for cash when you withdraw, so only get this if you'd never need the money in an emergency.

  • You can apply and manage the account online.

  • You can make as many withdrawals as you like as long as you give 120 days' notice each time.

  • Charter Savings Bank has the full £75,000 UK FSCS savings safety protection.

Rate: 1.8% AER | Min deposit: £1,000 | Max deposit: £250,000 | Access: Online | Interest paid: Annually or monthly | Withdrawals: Must give 120 days' notice

Best BuysFixed savings

Most savings accounts are variable, so the rate can change both with the Bank of England's base rate or at the provider's whim – so to keep earning well you need to actively monitor accounts. Yet there is an alternative...

Fixed-rate savings give a guaranteed rate for a set period, and the best buy fixed-rate deals are usually higher than the best buy easy-access rates.

The big catch is you can't take your money out during that time, and you won't benefit if other rates rise in that period. Therefore, they're only suitable for those who are happy to lock cash away for the entire term.

Quick questions

Is now the right time to fix savings?

Why do you list the AER interest rate when not all of these accounts pay it?

I know these are fixed savings, but can I access my cash?

How do I get paid interest monthly?

The best UK-protected fixed-rate accounts

Here we've included the best UK-protected accounts that pay a fixed rate of interest, from one to seven years. However, these rates can be beaten if you're willing to up the risk a tiny bit. Both sharia-compliant savings and EU-protected accounts can beat these rates. Check below to see the rates, and why they're ever so slightly more risky.

The best one-year fixed rates

Product Length of fix Rate(AER) Min/Max Deposit How to Open FSCS Protection
Charter SavingsCharter Savings 1 year 1.81% £1,000/£250,000 Online Full
Close BrothersClose Brothers 1 year 1.75% £10,000/£1 million Post Full
State Bank of IndiaState Bank of India 1 year 1.7% £10,000/£5 million Post Full

Best ‘Big Brand’ Savings. While all the accounts above have the full £75,000 UK savings safety protection – you asked us to ensure there’s a ‘name you know’ too. The account below is the top payer of those (however, there are other products - albeit not by well-known names - as well as the ones above, that beat it on rate too).

Post OfficePost Office 1 year 1.67% £500/£1 million Phone/branch Full

The best two-year fixed rates

Product Length of fix Rate(AER) Min/Max Deposit How to Open FSCS Protection
State Bank of IndiaState Bank of India 2 years 2.2% £10,000/No maximum Post Full
Paragon BankParagon Bank 2 years 2.11% £1,000/£100,000 Online Full
Close BrothersClose Brothers 2 years 2.05% £10,000/£1 million Post Full

Best ‘Big Brand’ Savings. While all the accounts above have the full £75,000 UK savings safety protection – you asked us to ensure there’s a ‘name you know’ too. The account below is the top payer of those (however, there are other products - albeit not by well-known names - as well as the ones above, that beat it on rate too).

Post Office MoneyPost Office 2 years 1.8% £500/£1 million Phone/branch Shared with Bank of Ireland UK and AA Savings

The best three-year fixed rates

Product Length of fix Rate(AER) Min/Max deposit How to open FSCS protection
Principality BSPrincipality BS 3 years 2.4% £500/£20,000 Online/post Full
Harrods BankHarrods logo 3 years 2.4% £20,000/£2.5 million Online/post Full
Paragon BankParagon Bank 3 years 2.35% £1,000/£100,000 Online Full

Best ‘Big Brand’ Savings. While all the accounts above have the full £75,000 UK savings safety protection – you asked us to ensure there’s a ‘name you know’ too. The account below is the top payer of those (however, there are other products - albeit not by well-known names - as well as the ones above, that beat it on rate too).

Tesco BankTesco Bank 3 years 2.15% £2,000/£5 million Online Full

The best four-year fixed rates

Product Length of fix Rate(AER) Min/Max deposit How to open FSCS protection
State Bank of IndiaState Bank of India 4 years 2.6% £10,000/No maximum Post Full
Charter SavingsCharter Savings 4 years 2.5% £1,000/£250,000 Online Full
Tesco Bank*Tesco Bank 4 years 2.4% £2,000/£5 million Online/Phone Full

The best five-year fixed rates

Product Length of fix Rate(AER) Min/Max deposit How to open FSCS protection
First SaveFirst Save 5 years 3.06% £1,000/£2 million Online Full
Paragon BankUBL 5 years 3% £1,000/£100,000 Online Full
State Bank of IndiaState Bank of India 5 years 3% £10,000/£5 million Post Full

Best ‘Big Brand’ Savings. While all the accounts above have the full £75,000 UK savings safety protection – you asked us to ensure there’s a ‘name you know’ too. The account below is the top payer of those (however, there are other products - albeit not by well-known names - as well as the ones above, that beat it on rate too).

Tesco Bank*Tesco Bank 5 years 2.8% £2,000/£5 million Online/Phone Full

Higher-paying fixed savings with a but...

If you can buck convention you can earn more with fixed savings. All the accounts above are straightforward deals, yet a host of other accounts do pay more, but with a but. So we’ll only list accounts here that beat the normal best buys.

  • Sharia compliant accounts – fully UK protected, but rate not guaranteed.  The very top-paying two and three year accounts are from a Sharia-compliant Islamic bank.

    As Islam bars interest, instead of an interest rate they give an 'expected profit rate' - this has always been paid out by the two banks listed below, though by definition it can’t be certain.

    The top payer is the Al Rayan Bank which pays 2.17% for 18 months, 2.78% for two years and 2.88% for three years – smashing the best buys above. Milestone Savings also has good accounts, paying 2.1% for one year, 2.35% for two years, and 2.65% for three years. Both banks have the full UK £75,000 per person savings safety protection.

  • Top fixed savings with EU rather than UK savings safety protection. All accounts above have the full UK £75,000 safe savings protection. Yet EU banks can opt to be covered by their home countries' €100,000 protection, and at the moment, these can be winners. 

    However you need to consider if the worst happened and an overseas bank went bust, would and could a foreign government bail you out? Iceland famously had issues, though when that happened the UK stepped in so no UK savers lost money. If you do go for this option, bigger, wealthier countries are likely a safer bet.

    The German-protected Fidor Bank pays top rates for one, two and three years at 2% AER, 2.4% AER and 2.75% AER - if you want these you'll need to also set up a current account with the bank, though this doesn't require a credit check.

    The next best rates are from the French-protected RCI Bank at 2.01% AER, 2.25% AER and 2.6% AER for one, two and three years. If you want to lock in for five years, Agri Bank* is 3.15% AER but its protection comes from the relatively small Maltese state.

Best Buys Ethical savings

Ethical savings accounts – where providers claim to behave ethically in terms of the environment, human rights and more – have jumped in popularity. Our main focus is always telling you the top savings rates, but to match demand we've worked with Ethical Consumer to list the top-paying accounts that also rate highly on their ethics.

When giving a bank or building society an ethical rating, Ethical Consumer looks at its track record on various environmental, social and political issues. For banks and building societies, this not only looks at how the business is operated, but also who their investors are, and what they invest in.

Ethical easy access savings

These easy access accounts are just the same as the ones above, but here we list only accounts from ethical providers.

Ethical easy access top pick: 1.25% AER

All the accounts below have the full £75,000 UK guarantee.

Ethical Rating 13/20

1.25% AER – Unlimited withdrawals

The eSaver account from Skipton Building Society pays a clean 1.25% AER rate and allows you to make unlimited withdrawals. You can open the account online with a minimum of £1.

Ethical fixed savings

Again, these operate the same way as normal fixed savings, there's nothing special about what you have to do, but we only list ethical providers here.

Earn up to 2.4% AER fixed in an ethical bank

All the accounts below have the full £75,000 UK guarantee

Ethical Rating 13.5/20

1.65% AER fixed for one year

The Kent Reliance one-year Fixed Rate Bond pays 1.65% AER on balances over £1,000. You can apply online, by post or in branches.

Ethical Rating 13.5/20

2.4% AER fixed for three years

The three-year bond from Principality Building Society pays 2.4% AER on balances over £500. You can apply online, by post, or in branches.

The Savings Calculator

This multifunctional calculator allows you to calculate how much interest you’ll be paid, how long you’ll need to save for something, or tell you how much you need to save each month to meet a goal.

Remember the impact of tax – choose the right level for your income. Also, you might get one rate now, but unless you’ve fixed your rate, it’s likely you won’t get the same rate in a year – so you may need to redo the calculation then.

The calculator assumes you put money in at the beginning of each month, so if this isn't how you do it, the answers will be slightly out. If you don't make regular deposits but put lump sums in, figure out the monthly equivalent for a rough answer. Feel free to play with the results to see how it impacts your savings.

Savings Calculator

Pick your question...

How far ahead do you want to look? &
How much tax do you pay?

How much tax do you pay?

When do you need it by? &
How much tax do you pay?

Want to complain about your savings provider?

If your savings provider has given you the incorrect interest rate, or you haven't received your interest at all, then you don't have to suffer in silence. It's always worth trying to call your provider first to see if it can help, but if not...

Free tool if you’re having a problem

This tool helps you draft your complaint and manage it too. It’s totally free, and offered by a firm called Resolver, which we like so much we work with it to help people get complaints justice.

If the complaint isn't resolved, you can use Resolver to escalate it to the free Financial Ombudsman Service.

Q&A Savings

  • What’s the top account for joint savings?

  • Are there savings accounts designed for my business?

  • Haven’t you forgotten about inflation-linked savings?

  • How does inflation affect my savings?

  • What about when there's deflation?