The latest news to help you get the most from your savings account.
Here’s our monthly update sharing changes at leading UK savings accounts, as well as some of the articles you might have missed on the site.
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July’s savings news
ISA reform update
In the Budget last autumn, Rachel Reeves announced some basic proposals for changes to ISAs to begin in April 2027, including a reduction to the Cash ISA allowance to £12,000 for under 65s. Last month I shared some rumours circulating about some further details on these, and we’re still waiting for full confirmation. But in HMRC’s tax update newsletter last week, a few elements were confirmed.
Interest paid into non-Cash ISAs will be subject to 22% tax. So this is on things like uninvested cash and money market funds (a cash-like investment). This will apply to all ages.
However, that only applies to 100% of the money in a Stocks & Shares ISA or Innovative Finance ISA. It appears that if just 1% (or even less) of money is invested in a fund, share or bond, you’ll be able to keep the rest in a money market fund. We’ll get more details when the full rules are published, and we’ll update you here on the site.
One interesting aspect though is that this is a flat rate of tax, regardless of your tax-band. For savings outside of an ISA, higher rate tax payers will pay 42% and additional rate tax-payers 47%.
That might sound more appealing if you wish to keep money in cash, but it’ll make more sense, in theory, to use the partial money market fund loophole to keep it all tax-free. Also this one tax rate for all suggests that interest earned in a S&S ISA won’t be covered by the personal savings allowance.
Plus, don’t forget you’ll still be able to hold £12,000 in a Cash ISA, so this is only going to impact a handful of people who do want to hold in cash. Really having cash in a Stocks & Shares ISA rather than in a Cash ISA is about protecting those who have invested and either are partially selling some investments to use the cash, reinvest or de-risk.
Also confirmed is the end of transfers from S&S ISAs to Cash ISAs from next April for those under 65 years old. Also, we now know that the new age restriction of a £12,000 Cash ISA limit will end at the start of the financial year the holder turns 65. So if your birthday is in December, you’ll have the full £20,000 limit for Cash ISAs from the April before you hit that age.
More details of new First Time Buyer ISA
The government also revealed some details of the Lifetime ISA replacement which is expected to launch in April next year.
It’ll be called the First Time Buyer ISA, so as the name suggests, you’ll no longer to use one to save for retirement, as you can with the LISA.
The bonus will also be paid when you buy a home, which has two key consequences. First is that you’ll be able to withdraw the money without a penalty. Second, you won’t be able to earn interest or growth on the bonus.
If you already have a LISA, you’ll be able to use it alongside the FTBISA. If you have a Help to Buy ISA, you can transfer it into the FTBISA. There will be a Cash version, and a Stocks & Shares version, and you’ll need to have it open for a year before you can use it.
We don’t know yet how much you can save in it, the maximum house price or the size of the bonus. Once the full details are announced we’ll share them with you.
NS&I relaunches Green Bonds
Green Bonds are a great idea for those keen on proactive ethical savings. Sadly, the rate has often, though not always, been far lower than what’s on offer elsewhere.
Well, a new issue of these three-year fixed savings accounts has been launched, with a rate of 4.45%. Again, it’s lower than what is out there (4.85% from Afin Bank). It’s also below the best building society (4.75% from Coventry BS), which are decent passive ethical options (i.e. do no harm).
NS&I have also increased rates on their standard bonds. They’re decent, but can be beaten on all lengths.
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Plus, new Quidco customers get a high paying £18 welcome offer
Santander’s new 8% regular saver
A new top paying regular saver has just launched for Santander customers. You’ll receive 8% for the first year, which is made up of a 3% rate and 5% bonus. Both parts are variable, so the bank could choose to change them at any time, though I doubt they will do this in the first year you hold it.
The most you can save is £200 a month, so if you do this at the start of each month (which begins when you open the account, e.g. start on 4 July to 3 August), then you could earn £104 in interest in the first year.
You can make withdrawals from the account, but you can’t re-access this allowance. For example, if you have a balance of £1,200 and withdraw £500, the most you can add back in a new month is £200.
You must have a current account with the bank, though it’s not restricted to one of the cashback paying Edge accounts.
Unlike many other regular savers, the account will keep going after a year, albeit at a lower rate. Since you can only have one regular saver at a time, it makes sense to close your existing one once the bonus ends, and opening up a new one (if it has a better rate) or looking elsewhere.
Featured switching deal
Customer rating
4/5
- Switch bonus£180
- Offer endsUnknown
- Perks8% regular saver
- FSCS Protected? Yes
- Switch bonus requirements Switch using the Current Account Switch Service and close your old account within 60 days of starting the switch
- Deposit requirements Deposit £1,500 in the first 60 days from opening the account
- Direct debits transferred over Set up two Direct Debits before or after the switch from a selected list of household bills
- Existing customers? Can't have held any Santander current account on 1 January 2025
- Restrictions Can't have received a switching bonus from Santander already, offer limited to once per person
- Eligible accounts Open a new or hold an existing Everyday, Edge, Edge Up or Edge Explorer current account
- Regular saver 8% (variable) regular savings account. Includes 5% (variable) bonus for 12 months
Revolut newbies get 5%
If you’ve never had a Revolut account before, new users by 4 August will be able to earn 5% on savings. That sounds great, but it’s only on balances of up to £25,000 until 4 December 2026. So that just over five months now, but could be as little as four months. Personally I’d hope and wait for better welcome offers from Revolut.
Are short boosts coming back?
A while ago, particularly with ISAs, a number of providers tried to hack best buy tables by offering three and six month boosts to rates.
I was never a fan of this, and we made a call to separate these on our tables and in my videos. They disappeared, but I’ve spotted a few returning. Alongside the aforementioned Revolut offer, Oxbury Bank are offering 5.01%, but that drops to 3.51% at Christmas. Earlier in June, Chip also ran a short 6-month boost for new customers too.
Six months is obviously better than three months, but be sure to check other rates and move your money once that bonus ends. Though the same is true for all accounts since other easy access options are pretty much always variable, they may well drop too.
July’s savings offers
We’ll share any other deals in our savings deals page if any more come along.
Raisin: £40 bonus
Raisin: £40 welcome bonus
New Raisin customers can get a welcome bonus of £400. To get it, you need to register for a Raisin UK account using the code WELCOME40, open a fixed rate bond with a term of 1 year or longer and deposit a minimum of £10,000 by 30 June 2026.
The best paying 1 year account on the Raisin website is 4.65%. If you deposit £10,000, you’ll get a £40 bonus, so your effective APR would be 5.05%.
The offer is only for new customers and terms and conditions apply.
Can you earn extra on your savings?
Check out our list of the best savings special offers
Top savings accounts for July 2026
Remember, these are the accounts at the top of the tables. We’ve more options in our best savings accounts page, which is updated every day by the team.
Easy & limited access picks as of 30/6/26
| Bank | Account | Rate | Notes |
| Top easy access requiring a current account | — | — | — |
| Santander | Edge Saver | 6% AER variable, includes 2.5% bonus for 12 months | max £4,000 Needs Edge current account (£3 monthly fee) |
| Chase | Saver | 4.5% AER variable, includes 2.25% bonus for 12 months | New customers only |
| Top easy access with balance restrictions | — | — | — |
| Cahoot | Sunny Day Saver | 5% AER variable | max £3,000 One year only |
| Tembo | Home Saver | 4.55% AER variable includes 12 month bonus | max £20,000 |
| Top non digital account | — | — | — |
| Mansfield Building Society | Triple Access Bonus Saver | 4.25% AER variable | Only three withdrawals a year Apply by post or branch |
| Top easy access without restrictions | — | — | — |
| Ulster | Limited Edition Saver | 4.3% AER variable | min £5,000 / max £3m Rate lasts one year |
Fixed savings accounts picks as of 30/6/26
| Bank | Rate | Notes |
| Top 6 month fix | — | — |
| Chetwood Bank | 4.4% AER fixed | |
| Top 12 months fix | — | — |
| Al Rayan via Raisin | 5.05% equivalent (4.65% + £40 bonus on £10,000 balance | New customers by 30 June. Must use code / go via our link |
| Marcus | 4.9% AER fixed | |
| Top 15 months fix | — | — |
| Nationwide | 5% AER fixed | Existing Nationwide or Virgin Money customers as of 20 May 2026 |
| Top 18 months fix | — | — |
| Hampshire Trust Bank | 4.73 AER fixed | |
| Top 2 year fix | — | — |
| Market Harborough Building Society | 4.86% AER fixed | |
| Top 3 year fix | — | — |
| Afin Bank | 4.85% AER fixed | |
| Top 4 year fix | ||
| Thisbank | 4.82% AER fixed | |
| Top 5 year fix | — | — |
| Afin Bank | 4.9% AER fixed |
Fixed savings accounts picks for non digital applicants as of 30/6/26
If you don’t want to use online banking or apps, then these accounts pay the best for phone and post applications. You might find higher paying options that are branch only for local banks and building societies.
| Bank | Rate | Notes |
| Top 12 months fix | — | — |
| UBL | 4.68% AER fixed | Online, post or branch |
| Top 18 month fix | — | — |
| Tesco | 4.5% AER fixed | Online or phone |
| Top 2 year fix | — | — |
| Coventry Building Society | 4.7% AER fixed | Online, post, phone or branch |
| Top 3 year fix | — | — |
| Coventry Building Society | 4.75% AER fixed | Online, post, phone or branch |
| Top 5 year fix | — | — |
| Leek Building Society | 4.65% AER variable | Online, post, phone and branch |
Regular Saver accounts picks as of 30/6/26
| Bank | Rate | Notes |
| Requires a current account (12 months) | — | — |
| Santander | 8% AER variable | max £200 a month |
| First Direct | 7% AER fixed | max £300 a month |
| Requires a current account (6 months) | — | — |
| Zopa | 7.1% AER variable | Max £300 a month |
| Open to all | — | — |
| Monmouthshire Building Society | 6% AER fixed | Max £500 a month |
| Halifax | 5.5% AER fixed | Max £250 a month |
The best monthly savings accounts
Check out our list of the highest paying regular or monthly savings accounts.
ISA: Easy access picks as of 30/6/26
| Bank | Rate | Notes |
| Bonus rate for new customers only | ||
| Trading 212 | 4.61% (via our link only) | Flexible |
| Prosper | 4.6% | Flexible |
| Top rates with no bonus | ||
| Atom | 4.25% | |
| Top for transfers | ||
| Bank of Ireland | 4.21% | Includes 12 month bonus |
| Top for non-digital | ||
| Cambridge Building Society | 4.1% | Allows transfers Double access Online, post, phone or branch |
ISA: Fixed savings ISAs picks as of 30/6/26
| Bank | Rate | Notes |
| Top 12 months fix | — | — |
| AlRayan via Meteor | 4.7% expected return fixed | |
| Top 2 year fix | — | — |
| Hodge Bank | 4.66% AER fixed | |
| Top 3 year fix | — | — |
| Aldermore | 4.66% AER fixed | |
| Top 5 year fix | — | — |
| Hodge Bank | 4.66% AER fixed |
ISA: Fixed savings ISAs for non-digital picks as of 30/6/26
| Bank | Rate | Notes |
| Top 12 months fix | — | — |
| UBL | 4.66% AER fixed | Online, post or branch |
| Top 2 year fix | — | — |
| Halifax/Lloyds/Bank of Scotland | 4.65% AER fixed | Online, phone or branch |
| Top 3 year fix | — | — |
| Nationwide Building Society | 4.6% AER fixed | Online or branch |
| Top 5 year fix | — | — |
| Halifax | 4.65% AER variable | Online, phone or branch |
Lifetime ISA: Cash picks as of 30/6/26
| Bank | Rate | Notes |
| Moneybox | 5.8% AER fixed | Includes one year bonus for new customers |
| Plum | 5.65% AER fixed | Includes one year bonus for new customers |
The best Easy Access Cash ISA savings accounts
Check out our list of the highest paying easy access Cash ISAs
