The latest news to help you get the most from your savings account.
Here’s my monthly update sharing changes at leading UK savings accounts, as well as some of the articles you might have missed on the blog.
September’s savings update video
September’s savings news
Chip closes +1 but launches new savings account
The autosaving app Chip closed the +1 account to new customers at the end of August and has replaced it with an easy-access account. The rate on this new account is lower at 0.7% (versus 1.25%), but as with the previous account, you need to factor in a £1.50 fee every four weeks to get the interest.
Here’s my full analysis of the account and my thoughts on whether you should move your money.
Raisin offers £50 bonus
The savings marketplace Raisin (essentially a website connecting you to a handful of savings account providers, often with exclusive rates) has changed its bonus offering for new customers.
You’ll now get £50 for signing up to Raisin and then depositing at least £10,000 in one of the accounts you open via them. This money has to be saved for at least six months to get the bonus.
This means if you put exactly £10,000 in an account and leave it there for half a year, you’ll earn the equivalent of a 1% bonus. If it’s there for 12 months (and some of the better deals are on 12-month fixes, it’s a 0.5% bonus.
Obviously, if you put more money in one of the accounts or fix it for longer then you’ll still only get £50. Sign up here.
Fixed rates reach 1.5%
There’s been even more movement over the last month on 12-month fixed-rate accounts, with 1.5% available from various accounts recently. The best buy account tends to flip between half a dozen or so different providers every day or so – you can see which one is the current leader in my guide to the best savings accounts.
Featured switching deal
Our top pick
Customer rating
3.8/5
- Switch bonus£200
- Offer endsUnknown
- FSCS Protected? Yes
- 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
Where to put your savings in September 2021
Make sure you check for updates in my regularly updated savings best buy article, and of course you might have existing accounts closed to new customers with better rates. But right now I’d look at the following easy access accounts:
Best places to save £1,000
| Amount saved | Account | Rate | Notes |
| Up to £1,000 | Virgin Money M Plus current account | 2.02% | Can only earn interest on the first £1,000 saved |
Best places to save £1,001 to £6,000
| Amount saved | Account | Rate | Notes |
| £1,000 | Virgin Money M Plus current account | 2.02% | Can only earn interest on the first £1,000 saved |
| Up to £5,000 | Club Lloyds current account | 0.6% to 1.5% | Two direct debits are required to get the interest on balances up to £5,000 You’ll also get a choice of free cinema tickets or movie rentals. |
Best places to save £6,001 to £11,000
| Amount saved | Account | Rate | Notes |
| £1,000 | Virgin Money M Plus current account | 2.02% | Can only earn interest on the first £1,000 saved |
| £1,001 to £10,000 | Tandem easy access | 0.65% | App-only account |
Best places to save £11,001 to £16,000
| Amount saved | Account | Rate | Notes |
| £1,000 | Virgin Money M Plus current account | 2.02% | Can only earn interest on the first £1,000 saved |
| £10,000 | Investec via Raisin 32 days notice | 0.8% | If you’re new to Raisin and put in £10,000 for at least six months you’ll get a £50 bonus on top |
| Up to £5,000 | Club Lloyds current account | 0.6% to 1.5% | Two direct debits are required to get the interest on balances up to £5,000 You’ll also get a choice of free cinema tickets or movie rentals. |
Best places to save more than £16,000
| Amount saved | Account | Rate | Notes |
| £1,000 | Virgin Money M Plus current account | 2.02% | Can only earn interest on the first £1,000 saved |
| Between £5,000 and £50,000 | Premium bonds | 1%* | Once you have £5,000 in Premium Bonds it should win more than the best easy-access account (currently 0.65%) Once you’ve got at least £10,000 in Premium Bonds your average win rate will probably be better than the Club Lloyds account |
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