Banking

Best Savings Rates UK 2026 — Where to Put Your Money

Compare the best UK savings account interest rates. Easy access, fixed rate, notice accounts, and regular savers — find the highest rates for your savings.

· 3 min read

Getting a good return on your savings matters — especially with inflation eroding the value of cash. The difference between a 2% and a 5% savings rate on £10,000 is £300 per year. Here is where to find the best rates.

Best Rates by Account Type

Easy Access Accounts (No Withdrawal Restrictions)

Provider Account Rate (AER) Notes
Chase Saver Account 4.50% Via app only; linked to current account
Chip Instant Access 4.84% App-based
Oxbury Easy Access 4.71% Online only
Cynergy Easy Access 4.65% Online/phone
Paragon Easy Access 4.55% Online

Notice Accounts (Give Notice Before Withdrawing)

Provider Notice Period Rate (AER)
Oxbury 90 days 4.90%
Shawbrook 95 days 4.85%
Hampshire Trust 120 days 4.95%
Aldermore 90 days 4.80%

Fixed Rate Bonds (Money Locked for Set Period)

Provider Term Rate (AER) Minimum
SmartSave 1 year 5.10% £1,000
Atom Bank 1 year 5.05% £50
Cynergy 2 years 4.75% £1,000
Aldermore 1 year 4.95% £1,000
Shawbrook 3 years 4.65% £1,000

Regular Saver Accounts (Monthly Deposits)

Provider Account Rate (AER) Monthly Max Notes
First Direct Regular Saver 7.00% £300 Must have 1st Account
HSBC Regular Saver 7.00% £250 Must have HSBC account
Nationwide Flex Regular Saver 6.50% £200 Must have FlexAccount
Club Lloyds Monthly Saver 6.25% £400 Must have Club Lloyds
Santander Regular eSaver 6.00% £200 Must have 123 account

Rates change frequently — verify current rates before opening.

Choosing the Right Account

Your Situation Best Account Type
Emergency fund Easy access
Saving for house deposit (1–2 years) Fixed rate bond
Building savings gradually Regular saver
Might need access but can give notice Notice account
Saving for specific date (e.g. holiday) Fixed rate matching the date
Already have an emergency fund Fixed or notice for better rates

Interest Payment Options

Option How It Works Best For
Annual Interest paid once a year Maximising compound growth
Monthly Interest paid every month Those needing income
On maturity Interest paid when bond ends Fixed term savings

For compound growth, annual payment is usually better. The stated AER assumes interest is compounded.

Tax on Savings Interest

Tax Band Personal Savings Allowance
Basic rate (20%) £1,000/year tax-free
Higher rate (40%) £500/year tax-free
Additional rate (45%) £0 (all interest taxable)
Savings Amount At 5% Tax-Free? (Basic Rate)
£10,000 £500 Yes
£20,000 £1,000 Just covered
£30,000 £1,500 £500 taxable

To avoid tax on larger savings, use ISAs. See our ISA guide and cash ISA rates.

FSCS Protection

Coverage Detail
Amount protected £85,000 per person, per banking group
Joint accounts £170,000 protected
Temporary high balances Up to £1 million for 6 months (e.g. house sale proceeds)
ISAs Covered separately to the same bank’s savings

Banking Groups (Share Same £85k Protection)

Group Brands
Lloyds Banking Group Lloyds, Halifax, Bank of Scotland
NatWest Group NatWest, RBS, Ulster Bank
Santander Santander only
HSBC Group HSBC, First Direct, M&S Bank
Nationwide Nationwide only

If you have more than £85,000, spread across different groups.

Savings Strategies

The Savings Ladder

Tier Amount Account Type Purpose
1 1 month’s expenses Easy access Immediate emergencies
2 3–6 months’ expenses Easy access or notice Emergency fund
3 Additional savings Fixed rate / investments Growth

Making Savings Automatic

Strategy How
Pay yourself first Standing order on payday
Round-ups Apps that round up spending to save
Regular saver Consistent monthly deposits
Savings pots Separate pots for different goals

Rate Monitoring

Strategy Detail
Set calendar reminders Check rates quarterly
Use comparison sites MoneySupermarket, Moneyfacts
Watch Bank of England announcements Rate changes often follow
Be willing to switch Provider loyalty rarely pays

For more on growing your savings, see our savings account types guide and emergency fund guide.