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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May’s savings news
Could savings rates increase this year?
With the war in Iran now two months old, inflation is going to keep increasing. And that means not only are any cuts to the base rate incredibly unlikely this year, we could actually see some increases.
There’s so much uncertainty as to how long the war could last, that the Bank of England used it’s April MPC meeting to outline three potential scenarios as examples of how things might pan out.
One, had inflation peaking at 3.6% at the end of this year, but probably no need to increase the base rate. The second saw it go slightly higher and last a little longer, which might require one increase to around 4%, if at all. The final was a worst possible scenario that could see inflation at 6.2% next January, which potentially would lead to base rate increase to around 5.25%.
It’s impossible to say which of these or other scenarios is most likely, but obviously whatever does happen will impact the rates on offer for savers.
It feels like one hike has already been factored into the top of the table rates available right now, though the increases we’ve seen over the last few months could equally have just reversed the expectation of a cut.
I think it’s unlikely we’ll see much movement upward right away, but if at the next MPC meeting in six weeks it looks more likely that we will need base rate increases at some point, if not then, then we may see improvements.
For those looking to lock away their money now, the question is whether to grab these rates while you can, or keep it in easy access and wait and see if there will be further hikes. The middle ground is to fix some cash now, and then more later.
NS&I boosts British Savings Bonds rates
Some decent rates have been released by NS&I for fixed term bonds, with as much as 4.5% available. Now, you can beat these elsewhere, but it’s worth remembering that these accounts have a much higher protection level of £1m. That’s much bigger than the FSCS limit of £120,000 you’ll get elsewhere. So if you have a large sum and don’t want to split it around different banks this could be a good option. However, unlike Premium Bonds, the interest is not tax-free, so you might want to consider alternatives.
The Green Savings Bond was also reissued by NS&I, but you’re looking at a comparatively poor 3.82% for the three year fix. Though it has greener credentials, you could look at any building society for an account that while not necessarily doing “good”, certainly won’t do any harm.
Featured switching deal
Our top pick
Customer rating
3.8/5
- Switch bonus£180
- Offer endsUnknown
- 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
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Plus, new Quidco customers get a high paying £18 welcome offer
May’s savings offers
We’ll share any other deals in our savings deals page if any more come along.
Santander: up to £400 with ISA transfers
If you open a new ISA with Santander and transfer at least £10,000 across from an existing one held elsewhere, you can get a voucher worth between £50 and £400. It’s a competitive 4.5% on 1, 2, 3 and 5 year fixes.
You can’t already hold an ISA with Santander to get the voucher. You’ll also need to transfer all the money in your existing ISA. Remember it’s vital you use the ISA transfer system, and don’t withdraw cash from the old ISA to redeposit it.
The offer could end anytime, so if you’re keen I’d get on it.
| Transfer amount | e-voucher value |
|---|---|
| £10,000 to £24,999.99 | £50 |
| £25,000 to £49,999.99 | £100 |
| £50,000 to £99,999.99 | £200 |
| £100,000 and over | £400 |
Can you earn extra on your savings?
Check out our list of the best savings special offers
Top savings accounts for May 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 30/4/26
| 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% 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 | 4.75% 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 | — | — | — |
| Cahoot | Simple Saver | 4.17% AER variable | max £500,000 one year only |
Notice accounts picks as of 30/4/26
| Bank | Account | Rate | Notes |
| Top two months notice | — | — | — |
| Oxbury Bank | 60 days notice | 4.17% AER variable | |
| Top three months notice | — | — | — |
| Oxbury Bank | 90 days notice | 4.18% AER variable | |
| Top four months notice | — | — | — |
| Oxbury Bank | 120 days notice | 4.19% AER variable | |
| Top six months notice | — | — | — |
| Stafford Building Society | 180 Days notice | 4.26% AER variable | Online, post and branch |
Fixed savings accounts picks as of 30/4/26
| Bank | Rate | Notes |
| Top 6 month fix | — | — |
| Al Rayan via Meteor | 4.36% expected return fixed | |
| Top 12 months fix | — | — |
| Al Rayan via Meteor | 4.7% expected return fixed | |
| Top 18 months fix | — | — |
| Chetwood Bank | 4.7 AER fixed | |
| Top 2 year fix | — | — |
| RCI Bank | 4.67% AER fixed | |
| Top 3 year fix | — | — |
| RCI Bank | 4.65% AER fixed | |
| Top 5 year fix | — | — |
| GB Bank | 4.7% AER fixed |
Fixed savings accounts picks for non digital applicants as of 30/4/26
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 | — | — |
| Leeds Building Society | 4.4% AER fixed | Online, post or branch |
| Top 15 month fix | — | — |
| Skipton Building Society | 4.41% AER fixed | Online, post, phone or branch |
| Top 2 year fix | — | — |
| Harpenden Building Society | 4.42% AER fixed | Online, post or branch |
| Top 3 year fix | — | — |
| Leeds Building Society | 4.4% AER fixed | Online, post or branch |
| Top 5 year fix | — | — |
| Leeds Building Society | 4.4% AER variable | Online, post and branch |
Regular Saver accounts picks as of 30/4/26
| Bank | Rate | Notes |
| Requires a current account (12 months) | — | — |
| First Direct | 7% AER fixed | max £300 a month |
| Club Lloyds | 6.25% AER fixed | max £400 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 |
| Vernon Building Society | 5.75% 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 30/4/26
| Bank | Rate | Notes |
| Bonus rate for new customers only | ||
| Trading 212 | 4.51% | Flexible |
| Plum | 4.35% | Flexible |
| Top rates with no bonus | ||
| Atom | 4.25% | |
| Top for transfers | ||
| Plum | 4.2% | New customer bonus rate Flexible |
| Principality Building Society | 4.2% | 5 access only Flexible |
| Top for non-digital | ||
| Chorley Building Society | 4.25% | Online, post or branch |
| Cambridge Building Society | 4.1% | Allows transfers Online, post, phone or branch |
ISA: Fixed savings ISAs picks as of 30/4/26
| Bank | Rate | Notes |
| Top 12 months fix | — | — |
| Al Rayan via Meteor | 4.65% expected return fixed | |
| Top 2 year fix | — | — |
| Al Rayan via Meteor | 4.65% expected return fixed | |
| Top 3 year fix | — | — |
| Chetwood Bank | 4.55% AER fixed | |
| Top 5 year fix | — | — |
| Chetwood Bank | 4.55% AER fixed |
ISA: Fixed savings ISAs for non-digital picks as of 30/4/26
| Bank | Rate | Notes |
| Top 12 months fix | — | — |
| UBL | 4.54% AER fixed | Online, post or branch |
| Top 2 year fix | — | — |
| Barclays | 4.51% AER fixed | Online, post, phone or branch |
| Top 3 year fix | — | — |
| Nationwide Building Society | 4.5% AER fixed | Online or branch |
| Top 5 year fix | — | — |
| Nationwide Building Society | 4.5% AER variable | Online or branch |
The best Easy Access Cash ISA savings accounts
Check out our list of the highest paying easy access Cash ISAs
