Here are the top places to put your cash.
After a few years of improving savings rates, thanks largely due to the Bank of England base interest rate increases since 2021, we’re starting to see most rates start to drop back a lot, and that could continue for the rest of 2024.
You want to make sure you’re getting the best rate on your savings, and this article will take you through the best options right now.
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Top savings accounts
These are the highest paying interest rates right now on the most popular ways to save. Find more information, top rates from further providers and others types of accounts in dedicated sections further down the page.
Type | Rate | Provider | More details |
Easy access | 5% | Cahoot | All easy access |
Current account linked | 6% (before fee) | Santander Edge | All current accounts |
Less than 12 months fix | 5.2% | UMTB via Flagstone (6 months) | All fixed savings |
12 month fix | 5% | UMTB via Raisin | All fixed savings |
24 month fix | 4.72% | Ziraat via Raisin | All fixed savings |
More than 24 month fix | 4.51% | Hampshire Trust Bank | All fixed savings |
Best easy access savings accounts – up to 5%
These are the most flexible accounts, though as a result, you’ll usually get lower rates. You can add and take your money out at any time.
- Cahoot Sunny Day Saver (5% AER variable for 12 months): min £1 / max £3,000 (part of Santander)
- Can have one personal and one joint account
- Oxbury Bank (4.87% AER variable): min £25,000 / max £500,000
- Cahoot (4.85% variable): min £1 / max £2m
- GB Bank via Raisin (4.85% AER variable): min £1,000 / max £85,000
- New customers get a £100 bonus when you sign up with the code OFFER100 by 30 September and deposit £10,000 for six months by 15 October 2024. See all the details.
- Monument Bank (4.81% AER variable): min £25,000 / max £2m
- Cynergy Bank (4.8% AER variable includes 1.05% bonus for 12 months): min £1 / max £1m
- QIB via Raisin (4.8% expected profit variable): min £1,000 / max £85,000
- New customers get a £100 bonus when you sign up with the code OFFER100 by 30 September and deposit £10,000 for six months by 15 October 2024. See all the details.
Top limited access
- Chip (4.84% AER variable – includes 0.77% bonus for 12 months): min £0 / max £1m
- 3 withdrawals a year, after which the rate reverts to 3.74% AER variable
- West Brom Building Society (4.81% AER variable): min £1 / max £1m
- 4 withdrawals a year or rate drops to 2.55%
- Chorley Building Society (4.8% AER variable): min £1,000 / £500,000
- 1 withdrawal a year
Top interest from investment accounts
- Trading 212 (5% APY): min £0 / max N/A
- No FSCS protection
- see full analysis here.
Top loyalty easy access
- Ulster Bank (5.2% AER variable, drops to 4.75% on 14 October 2024): min £5,000 / max £1m (part of Natwest/RBS)
- Requires Ulster Bank current account
With offers
- Chip powered by ClearBank (4.58% AER variable – tracks at 0.51% below base rate): min £1 / max £250,000
- Up to £50 bonus available
- Falls to 4.01% from 12 September 2024
Top Building Society
- Family Building Society (4.76% AER variable – market tracker): min £500 / max £250,000
- Rate is reviewed four times a year in March, June, September and December
Top Sharia bank
- QIB via Raisin (4.8% expected profit variable): min £1,000 / max £85,000
- New customers get a £100 bonus when you sign up with the code OFFER100 by 30 September and deposit £10,000 for six months by 15 October 2024. See all the details.
For large deposits with full protection
- NS&I Income Bonds (4% AER variable): min £500 / max £1m
- NS&I Direct Saver (4% AER variable): min £1 / max £2m
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Best notice accounts – up to 5.25%
A notice account means you have to request to get your money and interest, which will be released after a set time. They often have a variable rate but if there’s a cut you’ll normally be given notice.
Six-month notice – up to 5%
- Ecology Building Society (5% AER variable): 180 days notice: min £1,000 / max £500,000
- United Trust Bank (5% AER variable – tracks the base rate) 180-day notice: min £5,000 / max £1m
Four-month notice – up to 4.95%
- Vanquis Bank (4.95% AER variable): 120-day notice: min £1,000 / max £250,000
- Cynergy Bank (4.95% AER variable) 120-day notice: min £500 / max £1m
Three-month notice – up to 5.25%
- Investec Bank (5.25% AER variable): 90-day notice: min £5,000 / max £250,000
- BLME (5.15% expected profit rate variable): 90-days notice: min £20,000 / max £1m
- Oxbury Bank (5.13% AER variable base rate tracker): 90-days notice: min £1,000 / max £500,000
- OakNorth Bank (5.12% AER variable): 95-day notice: min £1 / max £500,000
Two-month notice – up to 5.05%
- Vanquis Bank (5.05% AER variable): 60-day notice: min £1,000 / max £250,000
- Monument Bank (5.01% AER variable) 60-day notice: min £25,000 / max £2m
One-month notice – up to 5.02%
- Investec via Raisin (5.02% AER variable) 32-day notice: min £1,000 / max £85,000
- New customers get a £100 bonus when you sign up with the code OFFER100 by 30 September and deposit £10,000 for six months by 15 October 2024. See all the details.
Best current account linked easy access savings – up to 6%
Some of the best rates are in or linked to current accounts – or you might just want the convenience of having everything at the same bank (though that’s not always a good idea).
All of these accounts can be opened by anyone, though you will be credit checked for opening the current account itself. They’ll often have additional requirements or fees to take in to account. You may already have seen some of these listed in the easy and limited access lists above.
Interest earned in separate savings account – up to 6%
- Santander Edge Saver (6% AER variable, includes 1.5% bonus for 12 months): min £0 / max £4,000
- Requires Santander Edge current account (£3 monthly fee)
- Can open one Edge Saver with a personal account and two Edge Savers with a joint account
- Full review and analysis here
- There’s also up to £20 available for the current account from Quidco and TopCashback if you apply via these cashback sites.
Interest earned in current account – up to 5%
- Nationwide FlexDirect (5% AER variable): min £0 / max £1,500
- Only lasts one year – review here
- Kroo: (4.1% AER variable): min £0 / max £500,000
- Interest is earned in the main current account
- The rate tracks the base rate minus 0.9%
Best fixed savings accounts – up to 5.2%
You can fix your savings for a year or longer and get a slightly better rate in return. However, you need to be sure you won’t need access to that cash over that time. The longer you fix, the greater the risk you’ll lose out if rates were to rise. But at the same time, they’re protected if rates were to fall.
It’s worth noting too when longer fixes provide you with access to the interest. With most it’s at the end of the fix, meaning all that interest will count towards your personal savings allowance for the year you receive it.
Three-month fixes – up to 5.12%
- UMTB via Flagstone (5.12% AER fixed): min £10,000 / max £1m
- Oxbury Bank (5% AER fixed): min £1,000 / max £500,000
- Gatehouse Bank via Raisin (4.95% expected profit rate fixed): min £1,000 / max £85,000
- New customers get a £100 bonus when you sign up with the code OFFER100 by 30 September and deposit £10,000 by 15 October 2024. See all the details.
- Monument via Raisin (4.87% AER fixed): min £1,000 / max £85,000
- New customers get a £100 bonus when you sign up with the code OFFER100 by 30 September and deposit £10,000 by 15 October 2024. See all the details.
Six-month fixes – up to 5.2%
- UMTB via Flagstone (5.2% AER fixed): min £10,000 / max £1m
- GB Bank via Raisin (5% AER fixed): min £1,000 / max £85,000
- New customers get a £100 bonus when you sign up with the code OFFER100 by 30 September and deposit £10,000 by 15 October 2024. See all the details.
- Gatehouse Bank via Raisin (5% expected profit rate fixed): min £1,000 / max £85,000
- New customers get a £100 bonus when you sign up with the code OFFER100 by 30 September and deposit £10,000 by 15 October 2024. See all the details.
- Atom (5% AER fixed): min £50 / max £100,000
Nine-month fixes – up to 4.9%
- Atom (4.9% AER fixed): min £50 / max £100,000
- IsBank via Raisin (4.88% AER fixed): min £10,000 / max £85,000
- New customers get a £100 bonus when you sign up with the code OFFER100 by 30 September and deposit £10,000 by 15 October 2024. See all the details.
- Monument Bank (4.85% AER fixed): min £25,000 / max £2m
12-month fixes – up to 5%
- UMTB via Raisin (5% AER fixed): min £1,000 / max £85,000
- New customers get a £100 bonus when you sign up with the code OFFER100 by 30 September and deposit £10,000 by 15 October 2024. See all the details.
- Atom (5% AER fixed): min £50 / max £100,000
- SmartSave (4.93% AER fixed): min £10,000 / max £85,000
- Close Brothers (4.92% AER fixed): min £10,000 / max £2m
18-month fixes – up to 4.78%
- Hampshire Trust Bank (4.78% AER fixed): min £1 / max £250,000
- Gatehouse Bank (4.75% expected profit rate fixed): min £1,000 / max £1m
- Cynergy Bank (4.7% AER fixed): min £1,000 / max £1m
2 year fixes – up to 4.72%
- Ziraat via Raisin (4.72% AER fixed): min £1,000 / max £85,000
- New customers get a £100 bonus when you sign up with the code OFFER100 by 30 September and deposit £10,000 by 15 October 2024. See all the details.
- IsBank via Raisin (4.7% AER fixed): min £2,000 / max £85,000
- New customers get a £100 bonus when you sign up with the code OFFER100 by 30 September and deposit £10,000 by 15 October 2024. See all the details.
- Hampshire Trust Bank (4.7% AER fixed): min £1 / max £250,000
- RCI Bank (4.7% AER fixed): min £1,000 / max £1m
3 year fixes – up to 4.51%
- Hampshire Trust Bank (4.51% AER fixed): min £1 / max £250,000
- UBL via Raisin (4.51% AER fixed): min £2,000 / max £85,000
- New customers get a £100 bonus when you sign up with the code OFFER100 by 30 September and deposit £10,000 by 15 October 2024. See all the details.
- Hodge Bank (4.5% AER fixed): min £1,000 / max £1m
Longer fixes – up to 4.4%
- 4 year fix UBL via Raisin (4.26% AER variable): min £2,000 / max £85,000
- New customers get a £100 bonus when you sign up with the code OFFER100 by 30 September and deposit £10,000 by 15 October 2024. See all the details.
- 5 year fix Birmingham Bank (4.36% AER variable): min £5,000 / max £250,000
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Best Regular Savings accounts
These accounts are all “Regular” or monthly savers which work differently to normal saving accounts. Here’s Andy’s full guide to how they work.
We’ve listed the top paying options below. Find more regular savings accounts in our separate best buy guide.
- Principality Building Society 6-month regular saver (8% AER fixed): min £0 / max £200 a month
- Progressive Building Society Online Regular Rainy Day Saver (7% AER variable): min £20 / max £300 per month
- First Direct Regular Saver (7% AER fixed): min £25 / max £300 a month
- requires a First Direct current account – full review
- Co-operative Bank Regular Saver (7% variable): min £1 / max £250 a month
- Requires a Co-op Bank current account
- Nationwide Flex Regular Saver (6.5% AER variable): min £1 / max £200 per month
- max 3 withdrawals per year, after which your rate drops to 2.15%.
- Requires Nationwide current account – full review
- Club Lloyds Monthly Saver (6.25% AER fixed): min £25 / max £400 a month
- Requires Club Lloyds current account – full review
Best Cash ISAs
Though most of us don’t need the tax-free “wrapper” offered by an ISA, if you are wanting to use one then the same goes in terms of finding the best rate.
Here are the top paying rates for each type, we’ve listed more options over on our dedicated Best Cash ISA page.
Best auto-savings rates – up to 5%
Apps like Chip and Plum and features like Monzo’s IFTTT are great tools to boost how much is in your savings. But the rates aren’t always the best. I’d personally look to transfer these savings over to a higher paying account, but in the short term it pays to use those with the best rates.
- Chase (5% AER variable) – rate on roundups only – read more about Chase
- Chip via Clearbank (4.58% AER variable) – Charges can apply, read more about Chip
- Monzo (4.1% AER variable) – read more about IFTTT
- Plum (4% AER variable for free users. Reducing to 3.89% on 12 September.)
- Read more about Plum
Prize draw accounts
Premium Bonds – 4.4% prize rate
The prize rate for Premium Bonds currently stands at 4.4%. This doesn’t mean you’ll get 4.4% back on your savings, though the closer you are to the £50,000 maximum deposit, the closer you’ll get to the rate (on average). Here’s more.
Best children’s savings account
We’ve written in more detail about the different savings accounts for kids, so do check that article out to understand the conditions such as access and find all the top rates.
Best ethical savings account
The money you hold in your savings is used by the banks to invest and lend money. This could mean it’s used for things you might disagree with, such as fracking, tobacco or arms manufacturing.
There are banks with ethical policies such as Triodos, while building societies must lend 75% of their funds to home buyers, meaning they don’t have the cash to invest elsewhere.
Sharia accounts can’t be used for things against Islamic law, like tobacco or gambling and I’ve listed the top ones further down the article.
The “greenest” banks are Ecology Building Society and Triodos, though they won’t always make the tables above. The following banks and building societies are more likely to appear above.
- Nationwide
- Yorkshire Building Society
- Coventry Building Society
- Leeds Building Society
- Saffron Building Society
- Tandem Bank
- Castle Community Bank (credit unions)
There’s also the NS&I Green Bond, a 3-year fixed-rate account. It’s currently paying 2.95%. Here’s our analysis.
Top Sharia savings accounts
Paying interest isn’t allowed in Islam, so a Sharia-compliant savings account instead promises a return on the money saved – an expected profit rate. Though technically this means the rate isn’t guaranteed, it’s not happened yet. They’re open to everyone, not just Muslims. Money in these accounts won’t be invested in arms, tobacco, gambling or tobacco.
Look in the tables above for banks offering an expected profit rate rather than AER. The main banks are:
Finding the latest savings rates
We update this page once or twice a day (check the published date to see when it last happened), but if you find a rate has been cut or isn’t available, you can check the MoneyFacts website for a partial list.