Best Savings Rates - Best Interest Rates | moneyfacts.co.uk

Best Savings Rates

  - Find the best savings rates with our best buys or savings search and open an account today.
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AER Notice / Term Minimum Investment Account Opening Search all 1489 accounts
     
  Easy Access - no bonus  

1.02%
None £100
  1. Yes
  2. No
  3. No
  4. No
Details...
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0.90%
None £500
  1. No
  2. Yes
  3. Yes
  4. No
Details...
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  Easy Access with bonus  

1.01%
Inc 0.76% bonus for 12 months
None £1
  1. Yes
  2. No
  3. No
  4. No
Details...
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  Fixed Rate Bonds  

2.01%
5 Year Bond £500
  1. Yes
  2. No
  3. No
  4. No
Details...
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2.00%
expected rate
5 Year Bond £10000
  1. Yes
  2. No
  3. No
  4. No
Details...
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2.00%
5 Year Bond £1000
  1. Yes
  2. No
  3. No
  4. No
Details...
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2.00%
5 Year Bond £1000
  1. Yes
  2. No
  3. No
  4. No
Details...
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1.67%
3 Year Bond £500
  1. Yes
  2. No
  3. No
  4. No
Details...
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1.63%
3 Year Bond £1000
  1. Yes
  2. No
  3. No
  4. No
Details...
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1.62%
expected rate
3 Year Bond £10000
  1. Yes
  2. No
  3. No
  4. No
Details...
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1.54%
2 Year Bond £1000
  1. Yes
  2. Yes
  3. No
  4. No
Details...
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1.53%
2 Year Bond £500
  1. Yes
  2. No
  3. No
  4. No
Details...
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1.52%
2 Year Bond £1000
  1. Yes
  2. No
  3. No
  4. No
Details...
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1.44%
18 Month Bond £500
  1. Yes
  2. No
  3. No
  4. No
Details...
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1.35%
1 Year Bond £500
  1. Yes
  2. No
  3. No
  4. No
Details...
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  Monthly Income Accounts  

1.02%
None £100
  1. Yes
  2. No
  3. No
  4. No
Details...
Go to Site
 
     
     
  Sponsored Products  

0.75%
None £1000
  1. Yes
  2. No
  3. No
  4. No
Details...
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1.90%
5 Year Bond £2000
  1. Yes
  2. Yes
  3. Yes
  4. No
Details...
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1.85%
4 Year Bond £1000
  1. Yes
  2. No
  3. No
  4. No
Details...
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1.85%
4 Year Bond £1000
  1. Yes
  2. No
  3. No
  4. No
Details...
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1.75%
5 Year Bond £1000
  1. Yes
  2. Yes
  3. No
  4. No
Details...
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1.60%
3 Year Bond £1000
  1. Yes
  2. No
  3. No
  4. No
Details...
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1.55%
3 Year Bond £2000
  1. Yes
  2. Yes
  3. Yes
  4. No
Details...
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1.55%
3 Year Bond £1000
  1. Yes
  2. Yes
  3. No
  4. No
Details...
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1.51%
2 Year Bond £1000
  1. Yes
  2. No
  3. No
  4. No
Details...
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1.45%
2 Year Bond £2000
  1. Yes
  2. Yes
  3. Yes
  4. No
Details...
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1.35%
3 Year Bond £1000
  1. Yes
  2. No
  3. No
  4. No
Details...
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1.25%
2 Year Bond £1000
  1. Yes
  2. No
  3. No
  4. No
Details...
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1.25%
1 Year Bond £1000
  1. Yes
  2. Yes
  3. No
  4. No
Details...
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1.25%
1 Year Bond £1000
  1. Yes
  2. No
  3. No
  4. No
Details...
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1.20%
2 Year Bond £10000
  1. Yes
  2. No
  3. No
  4. Yes
Details...
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1.20%
2 Year Bond £1000
  1. Yes
  2. No
  3. No
  4. No
Details...
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1.15%
3 Year Bond £500
  1. Yes
  2. No
  3. No
  4. No
Details...
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1.10%
12 Month Bond £1000
  1. Yes
  2. No
  3. No
  4. No
Details...
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1.10%
1 Year Bond £10000
  1. Yes
  2. No
  3. No
  4. Yes
Details...
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1.00%
1 Year Bond £1000
  1. Yes
  2. No
  3. No
  4. No
Details...
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1.00%
1 Year Bond £1000
  1. Yes
  2. No
  3. No
  4. No
Details...
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0.80%
6 Month Bond £1000
  1. Yes
  2. No
  3. No
  4. No
Details...
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Last Updated: Tuesday 24 January 2017 00:07

Our team of experts have chosen those savings accounts they believe to be Best Buys. A selection of those, for which we have arranged links are shown above, whilst products shown with a yellow background are sponsored products.

The UK Government has proposed to increase the deposit protection level from £75,000 to £85,000 of eligible deposits from 30 January 2017.

Disclaimer:
All rates subject to change without notice. Please check all rates and terms before investing or borrowing.
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Eligible deposits with UK institutions are protected by the Financial Services Compensation Scheme up to a maximum level of protection of £75,000 per person per institution.


 
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Savings accounts: things to bear in mind…

Before immersing yourself in our lovely selection of the best savings accounts & best savings rates, take a step back. Do you know what you need from a savings account?

Savings accounts can get pretty complicated, and are designed to meet different needs. There are many considerations to make when deciding which account to choose - it's far more than simply finding the best savings rate. So it’s good to get a handle on what it is you want, before jumping in…

How much have you got to save?

Some accounts are only available to you if you can commit at least a certain minimum level. Be sure to check this before you get too excited about a rate you may not be able to have!

Inflation

Just the word inflation can induce sleep in most people, but when it comes to your savings, inflation is very important. Inflation, simply put, is the rate at which the value of things goes up; a good way to think of it is to think of how much £100 would have bought you 10 years ago, and then to think of how much it would buy you now. The difference between the two is the result of inflation.

Now, if the rate of inflation is higher than the rate of interest you receive on your savings, that means the actual value of your savings is going down. So you want to make sure that your rate of interest is greater than the latest rate of inflation to make sure you actually make money on your savings!

Tax

The taxation of savings interest changed in April 2016. Basic rate taxpayers can now earn up to £1,000 in savings interest tax-free, while 40% taxpayers can only get £500 in tax-free interest and anyone paying 45% tax will have no tax-free allowance. Any amounts of interest above these tax-free amounts are taxed at the marginal rate applying to that person (20% or 40%).

From April 2016, interest will be paid to you without any tax being deducted by your bank or building society, so if you will owe tax you will need to declare it to HM Revenue & Customs.

Cash ISAs will continue to be paid with interest tax-free, regardless of your tax status, so this is always a good first port of call for savings.

How quickly do you need to be able to get at your money?

If you need to access your money instantly, then tying your savings up in a fixed rate bond may not be the best idea! On the flipside, if you don’t need access to your money for a while (you’re saving for your retirement for instance), having your money in an instant access (or no notice) savings account isn’t particularly good either.

If you use your savings as part of managing your cash flow (you dip into your savings, but then pay back into them regularly), an ISA isn’t best as you can only pay in up to your ISA limit once each tax year.

How do you want your interest paid?

The usual options for the payment of interest are yearly or monthly (although other options such as quarterly do exist). Annual interest best suits those best who don’t need to touch their savings very often, whereas monthly interest is good for those such as pensioners, who have to derive a regular income from their savings.

How do you want to manage your account?

We’re all different. Some of us prefer managing our accounts by popping down to the local branch in our lunch hour, while others like to keep track of our finances in the evening using online banking. Whatever your preference, be sure the account you select can be operated the way that suits you.

Compare the best savings rates

 
 
 
Just 44 savings accounts beat inflation
Just 44 savings accounts beat inflation

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Just 47% have money in a savings account
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How much will you save this year?
How much will you save this year?

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How to make your savings go further this year
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Is one of your resolutions to save more this year? If so, bravo! It's something we all need to get i... More

Sharia’a compliant savings accounts
Sharia’a compliant savings accounts

Islamic savings accounts offer a Sharia’a-compliant way of saving for Muslims living in the UK, as w... More

Depositor protection schemes if a bank goes bust
Depositor protection schemes if a bank goes bust

Find out where your bank or building society is licenced, and what deposit protection guarantees you... More

Is now the time to fix your savings rate?
Is now the time to fix your savings rate?

With some forecasters predicting interest rate cuts by November 2012, we look at the pros and cons o... More

Union Bank of India improves fixed bonds
Union Bank of India improves fixed bonds

Union Bank of India (UK) Ltd has increased selected fixed term savings rates by up to 0.20%, which s... More

BLME improves all fixed bonds
BLME improves all fixed bonds

BLME has increased rates across its range of fixed bonds, which sees all deals improve their positio... More

Charter Savings Bank launches 5yr bond
Charter Savings Bank launches 5yr bond

Charter Savings Bank has launched a new five-year fixed rate bond, which has entered the Best Buy ch... More

Hanley Economic’s new 2yr fixed bond
Hanley Economic’s new 2yr fixed bond

Hanley Economic BS has launched a new two-year fixed bond, which has entered the Best Buy chart for ... More

New monthly savings account goes top
New monthly savings account goes top

Hanley Economic BS has launched a new monthly savings account, which has entered two Best Buy charts... More

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