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Top savings accounts
Up to 5.16% easy access or up to 4.77% fixed
After many years of low rates, savings have made a significant comeback over the last 18 months. And while rates are on their way back down from recent peaks, top savings still pay more than inflation, so there's a chance to really make your money work for you. We've the top easy-access, notice and fixed-rate accounts below.

This is our main savings guide, but there are other options which can pay even more...
Lifetime ISAs: 25% bonus for first-time buyers aged 18 to 39
Help to Save: 50% bonus on savings if you're on a low income
Cash ISAs: The likely winner if you pay tax on savings interest
Regular savings: Up to 7% interest if you can save monthly
Children's savings: Earn up to 5.8% on kids' savings
Current accounts: Earn up to 5.12% on smaller sums
What is a savings account?

A savings account is simply a place for you to put your money and earn some interest.
Savings interest will be paid to you tax-free and most savers won't pay any tax on the interest they earn. Basic-rate taxpayers can earn £1,000 a year in interest tax-free, and higher-rate taxpayers £500, because of the personal savings allowance (PSA).
As rates have risen, you'd need around £20,000 in savings to reach this allowance, and soon have to pay tax, as a basic-rate taxpayer. If you're nearing this limit, it's worth considering a cash ISA, as interest on these is always tax-free (and doesn't count towards your PSA).
Your savings are safe – up to £85,000 is protected per bank or building society
Every bank or building society we mention in this guide is fully UK-regulated, which means you get £85,000 per person protection in the event it goes bust (£170,000 for joint accounts). The only thing to watch out for is some banks are linked to others, meaning this protection is shared. See Are your savings safe? for full info.
Do I need to pay tax on my savings interest?
Basic-rate taxpayers get a personal savings allowance of £1,000 before earned interest becomes taxable, higher-rate taxpayers get £500. Watch Martin's full explainer on who pays tax, how you pay it if you owe it and, crucially, how to (legally) reduce the amount of tax you pay...
How to choose the right savings account
There are many different types of savings account and if you're not sure what each one does, the choice can be confusing. This guide focuses on the top-pick 'standard' savings accounts, but there are other ways to boost your returns. Here are our top tips to help you decide where's best to put your money...
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Top easy-access savings
With easy-access accounts, you pay cash into them, then they pay you interest while the money's in the account and you can withdraw whenever you want – useful if you'll need to dip into them regularly. Some accounts limit the number of withdrawals you can make each month or year – we highlight whenever this is the case.
Rates on these accounts are variable, which means they can go up or down. You'll be notified of any change, but you should regularly check the table below for the current top payer. If your account is lagging behind, simply move your cash over.
With easy-access accounts, interest is usually paid into the account either monthly or annually. If you choose an account which pays interest annually, you won't be able to use the interest until the year's up – so there's a long wait. If you'd prefer to use it sooner, for example if you want a monthly income stream from your interest, choose an account which offers a monthly option.
If you'd rather a guaranteed interest rate, you may need to sacrifice this flexibility and lock cash away in a fixed savings account.
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Easy-access accounts – what we'd go for
Right now, basic-rate taxpayers need around £20,000 in top normal savings to exceed the personal savings allowance (PSA) (half that if you’re higher-rate) and therefore pay tax on savings interest. So, cash ISAs – a type of savings account where you never pay tax on interest – are particularly useful right now. And some top cash ISAs even pay higher rates than normal savings.
Every UK adult can put up to £20,000 into one each tax year – so if you’ve enough savings to exceed your PSA (or soon will), or if you’ve not yet used this year’s allowance (you’ve until 5 April), they’re winners. Our top picks are Trading 212’s 5.16% and Chip's 5.15% easy-access ISAs, both of which allow unlimited penalty-free withdrawals. You'll need to be a new customer to open these accounts.
What if a cash ISA isn’t right for you?
If you've already used your ISA allowance, or there's some other reason you don't want a cash ISA, here's what we'd go for instead...
- Top rates on normal savings. Chip’s 4.7% ‘Instant Access’ account is the top rate for unlimited withdrawals (Chip newbies only, rate includes a six-month fixed bonus), though if you won't need regular access to your savings, Coventry BS's 4.85% account pays a higher rate, but only allows four penalty-free withdrawals per year.
- Top rates if you prefer a well-known name. Leeds Building Society pays the top rate at 4.4% and allows unlimited withdrawals.
Top savings accounts. All have the full £85,000 savings protection.
Are you a basic-rate taxpayer with £20,000ish of savings (half that if you're higher-rate)? Cash ISAs are winners. Cash ISAs are a type of savings account where you never pay tax on interest and every UK adult can save £20,000 into one each tax year (you've until 5 April). | |
Cash ISA Trading 212, 5.16% (new customers only, click for info) - Min £1 - Open online or via app - Interest paid: monthly - Is a flexible ISA |
Cash ISA Chip, 5.15% for 6mths (new customers only, click for info) - Min £1 - Open via app - Interest paid: monthly - Is a flexible ISA |
Top normal accounts(In rate order – see what we'd go for) |
Top well-known name accounts(As many tell us you prefer names you know) |
Top rate if you'll withdraw rarely Coventry BS, 4.85% - Max four penalty-free withdrawals a year - Min £1, max £250,000 - Open online/ phone/ post/ branch - Interest paid: monthly or annually - Sole or joint accounts |
Top big name rate + unlimited withdrawals Leeds BS, 4.4% (matures 2 Mar 26) - Min £1,000, max £1m - Open online - Interest paid: annually - Sole or joint accounts |
A choice of two top accounts Chip (click for more info) - 4.85% (3/yr withdrawals) OR - 4.7% (unlimited withdrawals) - No min, max £1m - Open via app - Interest paid: monthly - No joint accounts |
Yorkshire BS*, 4.35% - Min £1, max £500,000 - Open online - Interest paid: annually - Sole or joint accounts |
One withdrawal per day Chetwood Bank, 4.66% - Min £1, no max - Open online - Interest paid: monthly - No joint accounts - Withdrawals by end of next working day |
Virgin Money, 4.31% - Max three penalty-free withdrawals a year - Min £1, max £250,000 - Open online - Interest paid: choose monthly or annually - Sole or joint accounts |
Charter Savings Bank, 4.63% - Min £1, £1m - Open online - Interest paid: choose monthly or annually - Sole or joint accounts |
Tesco Bank, 4.3% (incl 3.05% 1yr fixed bonus) - Open online - Interest paid: annually - Sole or joint accounts |
Ways to boost your interest. Some non-standard accounts pay higher rates. | |
Santander Edge, 6% but only for its current account customers (click for info) - Min £1, max £4,000 - Open online, via its app or in branch - No joint accounts - Requires a Santander Edge current account (click for full review) |
Chase*, 5% but only for new current account customers (3.5% variable + 1.5% fixed bonus for 6mths, variable rate falls to 3.25% on 19 Feb) - Min £1, max £3m - Open via app - No joint accounts - Requires a Chase current account (click for full review) |
All rates are AER. Santander and Cahoot share FSCS protection.
Remember, cash in all the accounts above is protected up to £85,000 per person, per financial institution. If you've more than £85,000, it's best to spread savings across several different banks just in case one gets into difficulty.
Want to know how much you'll earn in easy-access savings? Find out with our Savings Calculator. Simply plug in the rate, how much you'll save and how long for and it'll tell you how much you'll earn.
Quick questions
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Top notice savings accounts
These accounts require you to give notice before you can withdraw your cash. They're good for people who know they'll need their money, don't know exactly when, but know they'll not need it straightaway when they do.
A good example might be if you're a first-time buyer. You know you'll need your saved cash for the deposit, but you might find your dream home in two months or in 10. A (shortish) notice account could let you get a boosted rate, but would also let you access your cash in time to exchange.
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Notice accounts – what we'd go for
With notice accounts, you'll have to wait a little to access your cash, but in return you can get a rate boost above easy-access accounts. As things stand, these accounts currently out-pay even fixed-term accounts, though the rate is variable here, which means it could go up or down over time.
OakNorth Bank pays the top rate for a notice account at 4.64% for 95 days' notice (min £1). This rate tracks 0.14% above the Bank of England base rate (currently 4.5%), so will rise and fall alongside it.
Provider | Rate (AER variable) | Notice | When is interest paid? | Min/max deposit | How to open |
Top standard notice accounts. Here are the highest paying traditional savings accounts. | |||||
OakNorth Bank | 4.64% (tracks 0.14% above Bank of England base rate) | 95 days | Monthly, paid into the account | £1/ £500,000 | Online/ app (no joint accounts) |
Ways to boost your interest. Beat the rates above with an account from an online savings marketplace. | |||||
4.95% | 95 days | 4.77% paid daily into the account, 0.18% 'boost' paid annually into nominated account | £20,000/ £500,000 | App (no joint accounts) |
None of these accounts let you withdraw from them during the notice periods – so plan in advance if you'll need access to your cash. | All have Financial Services Compensation Scheme savings protection of up to £85,000.
Want to know how much you'll earn in a notice account? Find out with our Savings Calculator. Simply plug in the rate, how much you'll save and how long for and it'll tell you how much you'll earn.
Quick questions
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Top fixed-term savings accounts
With fixed savings you can't usually withdraw your money until the end of the term, but in return the interest rate is guaranteed. So only lock away what you definitely won't need access to.
If you want a fix that you can access money from, consider a cash ISA, which by law must allow you to do this (though usually for a fee).
At the moment, shorter-term fixes of a year or less currently pay higher rates than longer-term fixes. Though it's worth noting that, unusually, notice accounts actually pay the highest rates right now – and the top easy-access rates are only a smidge behind the top fixed rates. So there's an important question to consider – do you want the flexibility of an easy-access or notice account, or the certainty of a fixed-rate account?
Just remember, if interest rates rise, the longer you fix, the longer you forgo the ability to ditch and switch to a better deal.
For fixes that go across more than one tax year, when you can access the interest matters.
Basic-rate taxpayers can earn £1,000 a year in interest tax-free as part of their personal savings allowance (PSA), for higher-rate taxpayers it's £500. Getting all your interest from long-term fixes in one go may mean you exceed your PSA in that year, which could mean you end up paying more tax.
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Fixes less than a year – what we'd go for
In terms of interest available, there's currently little difference between the top easy-access and the top short-term fixed-rate accounts. The question to ask is – will you need flexible access to your cash more than a fixed interest rate.
If you do want a short-term fix, Zenith Bank pays the top rate for a six-month fix at 4.7% (min £1,000).
Provider | Rate (AER) + fix length | When can I get the interest? | Min/max deposit | How to open |
Top shorter-term fixes. Here are the highest paying six- and nine-month accounts. | ||||
---|---|---|---|---|
|
4.7 % for six months | At maturity | £1,000/ £2m | Online (no joint accounts) |
Habib Bank Zurich | 4.65% for six months | At maturity | £5,000/ £1m | Online |
Ways to boost your interest. Beat the above rates with an account via an online savings marketplace. | ||||
4.9% for three months | At maturity | £20,000/ £1m | App (no joint accounts) |
All have Financial Services Compensation Scheme savings protection of up to £85,000.
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One-year fixes – what we'd go for
If you go for a one-year fix that pays interest 'at maturity', it'll count towards your tax-free allowance for the next tax year, not this one. Monthly interest paid out of the account is different, as it's counted for the tax year in which it's paid to you – though here you won't get interest on the interest. See tax on savings interest for full help.
Top standard one-year fix. Vida Savings pays the top rate of 4.77% with an account you can open online with £100+.
Prefer a more well-known name? MBNA (part of Lloyds Banking Group) pays 4.65% for a one-year fix, though note that while you can open the account online, you can only manage it via telephone.
Provider | Rate (AER) | When can I get the interest? | Min/max deposit | How to open |
Top standard one-year fixes. Here are the highest paying traditional savings accounts. | ||||
Vida Savings | 4.77% | Monthly or at maturity | £100/ £85,000 | Online |
---|---|---|---|---|
DF Capital | 4.75% | At maturity | £1,000/ £250,000 | Online (no joint accounts) |
GB Bank | 4.75% | Monthly or at maturity | £1,000/ £100,000 | Online |
Top rates from established names. As we know some prefer to save with bigger brands. | ||||
MBNA (part of Lloyds Banking Group) | 4.65% | At maturity | £1,000/ £750,000 | Online (manage via phone only)
|
All have Financial Services Compensation Scheme savings protection of up to £85,000.
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Two-year fixed savings – what we'd go for
If you're going for a two-year fix, make sure you know the tax implications of how you take interest. Accounts paying interest 'at maturity' do so as a lump sum, which could take you over your personal savings allowance (PSA) for the year it matures – meaning you'd pay some tax on the interest. Alternatively, accounts that pay interest out of the account to you monthly or annually might help keep you under your PSA as it's spread across tax years. However, interest doesn't compound in this case.
The top two-year fixed rate is Zenith Bank's 4.65% and can be opened with £1,000+.
Prefer a more well-known name? Tesco Bank pays 4.15% for a two-year fix (min £2,000). This provider's now part of Barclays, so if you've savings with both note you only get £85,000 FSCS protection in total across all the accounts you have with them.
Provider | Rate (AER) | When can I get the interest? | Min/max deposit | How to open |
Top standard two-year fixes. Here are the highest paying traditional savings accounts. | ||||
---|---|---|---|---|
Zenith Bank | 4.65% | At maturity | £1,000/ £2m | Online (no joint accounts) |
Atom Bank | 4.6% | Monthly, annually or at maturity | £50/ £100,000 | App |
Hodge Bank | 4.6% | Monthly, annually or at maturity | £1,000/ £1m | Online (no joint accounts) |
Top rate from an established name. As we know some prefer to save with bigger brands. | ||||
|
4.15% | Monthly or annually, paid away | £2,000/ £5m | Online/ phone |
Skipton BS* | 4.15% for 18 months | Monthly, annually or at maturity | £500/ £1m | Online/ app/ branch/ phone/ post |
All have Financial Services Compensation Scheme savings protection of up to £85,000. Tesco Bank now shares FSCS protection with Barclays.
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The difference in interest between fixed-term accounts ranging from one to five years is minor – so there's little incentive to lock in for longer right now, unless you want certainty of returns over a longer period.
If you are locking in, make sure you know the tax implications of how you take interest. Accounts paying interest 'at maturity' do so as a lump sum, which could take you over your personal savings allowance (PSA) for the year it matures – meaning you'd pay some tax on the interest. Alternatively, accounts that pay interest out to you monthly or annually might help keep you under your PSA, as it's spread over tax years. Yet interest doesn't compound in this case.
The top longer-term fixes rates are paid by Birmingham Bank at 4.63% for three years (min £5,000) and JN Bank at 4.6% for five years (min £100).
Three-year fixed rates
Provider | Rate (AER) | When can I get the interest? | Min/max deposit | How to open |
Top standard three-year fixes. Here are the highest paying traditional savings accounts. | ||||
---|---|---|---|---|
Birmingham Bank | 4.63% | At maturity | £5,000/ £250,000 | Online (no joint accounts) |
Oxbury Bank | 4.62% | At maturity | £1,000/ £500,000 | Online/ app (no joint accounts, need app to manage) |
Hodge Bank | 4.59% | Monthly, annually or at maturity | £1,000/ £1m | Online (no joint accounts) |
Top rates from established names. As we know some prefer to save with bigger brands. | ||||
Tesco Bank | 4.1% | Monthly or annually, paid away | £2,000/ £5m | Online/ phone |
All have Financial Services Compensation Scheme savings protection of up to £85,000. Tesco Bank now shares FSCS protection with Barclays.
Provider | Rate (AER) | When can I get the interest? | Min/max deposit | How to open |
Top standard five-year fixes. Here are the highest paying traditional savings accounts. | ||||
---|---|---|---|---|
JN Bank | 4.6% | At maturity | £100/ £500,000 | Online (no joint accounts) |
Birmingham Bank | 4.55% | At maturity | £5,000/ £250,000 | Online (no joint accounts) |
Shawbrook Bank | 4.52% | Monthly, annually or at maturity | £1,000/ £2m | Online |
Top rates from established names. As we know some prefer to save with bigger brands. | ||||
Skipton BS* | 4.15% | Monthly, annually or at maturity | £500/ £1m | Online/ app/ branch/ post/ phone |
|
4.01% | Monthly or annually, paid away | £2,000/ £5m | Online/ phone |
All have Financial Services Compensation Scheme savings protection of up to £85,000. Tesco Bank shares FSCS protection with Barclays.
Want to know how much you'll earn in fixed-rate savings? Find out with our Savings Calculator. Simply plug in the rate, how much you'll save and how long for and it'll tell you how much you'll earn.
How do online savings platforms work?
Savings platforms, or savings marketplaces, offer accounts from the various banks that they partner with – often at higher rates than are available direct with that bank. Essentially it's a way to easily switch between accounts, though rates are not always as good as the ones above. Big names in this space include Raisin, Flagstone and Hargreaves Lansdown Active Savings.
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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...
You can use free complaints tool Resolver. The tool helps you manage your complaint, and if the company doesn't play ball, it also helps you escalate your case to the free Financial Ombudsman Service.
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