Compare Best Buys For Your Money
Best Buys
Why we like it: No minimum monthly funding or monthly fee to maintain the account. Earn up to 15% cashback with Retailer Offers. Stress-free account switching in 7 days with the Current Account Switch Service. £300 ATM withdrawal per day, Arranged Overdraft facility (subject to status). Online and Mobile Banking with text and email alerts. Must be 18 or older and live in the UK permanently. 39.94% EAR overdraft charge. Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000
Why we like it: Access to Regular Saver Account paying 1.00% AER/Gross fixed for 12 months if saving between £25 and £300 a month (up to £3,600 per year). £250 interest-free overdraft (subject to status). No minimum monthly funding and no monthly account fee. Mobile banking app. UK based contact centre. Easy switching with the Current Account Switch Service. Must be 18 or older and UK resident. Get the £100 when switching as a new customer and paying in at least £1,000 within three months of the account opening
Why we like it: Free current account. Pays 0.05% AER interest on balances up to £85,000. Get set up in minutes. Send money abroad: Fast and secure money transfers to bank accounts in 38 countries worldwide. No fees when you pay with your card abroad or withdraw money. Get a spotlight on your spending: See what you’ve spent instantly with real-time payment notifications. 3 month interest holiday on the first £500 of an arranged overdraft. Best British Bank and Best Current Account in 2020 at the British Bank Awards. Awarded 5 stars by Defaqto. Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000
Why we like it: A bank account that can build credit history. No credit check during sign up. Apply straight from your mobile. Instant online decision. Get your Contactless Debit Mastercard within 3-5 working days. Add Creditbuilder onto your account and it could help build your credit rating at no extra cost. Deposit cash into your account at any Post Office UK branch. Money is available in your account immediately. Manage your account 24/7 from any device with the banking app - get real time balance information, statements, add payees send payments and apply for extras. Automatic payment alerts. UK based Customer Services Team. Your money is protected up to £85,000 by the FSCS (Financial Services Compensation Scheme)
Why we like it: Can be opened by or on behalf of any child up to the age of 18. Debit or cash card available for those aged between 13 and 18. Monthly interest. No monthly fee. For children under age 13, the account must be opened in trust and managed by an adult (trustee). If you’re aged between 13 and 18 years old and live permanently in the UK you can apply online by telephone or in branch. No overdraft facility. 1% interest on the entire balance once the balance is £100, 2.00% AER/1.98% gross (variable) on the entire balance once the balance is £1,500, 3.00% AER/2.96% gross (variable) on the entire balance once the balance is £1,500 or over (up to a maximum of £2,000). Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000
Why we like it: Instant access to your savings. Unlimited deposits and withdrawals. Interest paid monthly, either to a linked current account, or adding it to your Online Flexi Saver account. Easy application process, you just need a UK mobile phone and UK driving licence or passport. Manage account online. Maximum balance £250,000. Must be aged 18 or older and have a UK address. Must have a linked UK current account. Your eligible deposits with Investec Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)
Why we like it: Which? Recommended Savings Provider. No notice period. Deposit from £100. Interest paid monthly or annually. Apply in minutes. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services. Compensation Scheme (FSCS)
Why we like it: Market leading 1 year fixed rate bond. Interest paid on maturity. Automatic repayment to your linked account. Maximum deposit £250,000. FSCS Protected. Must be UK resident, have a UK address and be aged 18 or older. No withdrawals permitted. Can’t have held an Investec Online Flexi Saver or Fixed Rate Saver in the last 12 months
Why we like it: Market leading 2 year fixed rate bond. Register for a free Raisin UK Account to apply for product and receive a cash bonus. Interest paid on maturity. Maximum deposit £85,000. FSCS Protected. Must be UK resident and aged 18 or older. No withdrawals permitted
Why we like it: Register for a free Raisin UK Account to apply for product and receive a cash bonus. Interest paid on maturity. Maximum deposit £85,000. FSCS Protected. Must be UK resident and aged 18 or older. No withdrawals permitted
Why we like it: Minimum deposit £1,000 - No withdrawals permitted - FSCS Protected
Why we like it: Register for a free Raisin UK Account to apply for product and receive a cash bonus. Interest paid on maturity. Maximum deposit £85,000. FSCS Protected. Must be UK resident and aged 18 or older. No withdrawals permitted
Instant Access Best Buys
Investec Bank »
Investec Bank also offer an instant access account.
- 0.58% AER/Gross pa (variable) interest rate
- Interest is paid monthly either to linked bank account, or added back in
- Unlimited payments and withdrawals
- Online account
- Minimum deposit - £5,000
- FSCS Protected
Quick online application setup from Investec
RCI Bank »
RCI Bank offers a competitive instant access savings account.
- 0.40% AER/Gross pa (variable) interest rate
- Interest is paid monthly or annually
- Withdrawals - Unlimited & no penalties
- Online account
- Minimum deposit - £100
- FSCS Protected
Quick online application setup from RCI Bank
Fixed Rate Best Buys
Investec Bank 1 Year Fixed Rate Bond »
- Fixed 1 Year 1.05% at time of writing
- Interest paid at maturity
- Open online
- Minimum deposit - £1,000
- Register for a free Raisin UK Account to apply for product
- FSCS Protected up to £85,000
Quick online application from Investec Bank
QIB Bank 2 Year Fixed Rate Bond »
- Fixed 2 Year 1.25% at time of writing
- Interest paid at maturity
- Open online
- Minimum deposit - £1,000
- Register for a free Raisin UK Account to apply for product
- FSCS Protected up to £85,000
Quick online application from QIB Bank
QIB Bank 3 Year Fixed Rate Bond »
- Fixed 3 Year 1.30% at time of writing
- Interest paid at maturity
- Open online
- Minimum deposit - £1,000
- Register for a free Raisin UK Account to apply for product
- FSCS Protected up to £85,000
Quick online application from QIB Bank
High Interest Current Account
Santander 123 Account »
Whilst general interest rates are low some banks and building societies are offering high interest current accounts as an alternative. Santander's 123 Current Account offers a rate of 0.30% AER for savings.
- Fixed interest on balances up to £20,000 - 0.30% AER
- £4 monthly fee
- Up to 3% cashback on household bills
- Must pay in £500 per month
- FSCS Protected
For more information and to apply for Santander 123 Account
First Direct 1st Account »
Get £100 for switching, and ten earn 1.00% AER/gross on linked regular savings account.
- £100 when switching to First Direct as a new customer
- No minimum monthly funding
- 1.00% AER/gross for 12 months, available to First Direct 1st Account customers who open a new Regular Saver account, saving between £25 and £300 per month
- No monthly fee
- £250 interest free overdraft (subject to status)
- Money Banking app
- UK based contact centre
- FSCS Protected
For more information and to apply for First Direct 1st Account
Santander 123 Account »
Whilst general interest rates are low some banks and building societies are offering high interest current accounts as an alternative. Santander's 123 Current Account offers a rate of 0.60% AER for savings.
- Fixed interest on balances up to £20,000 - 0.60% AER
- £5 monthly fee
- Up to 3% cashback on household bills
- Must pay in £500 per month
- FSCS Protected
For more information and to apply for Santander 123 Account
With UK savings rates at an all time low, you need to take action to ensure your savings are getting the best interest deal possible.
Many savings accounts' interest rates are below inflation, which means people's savings are being eroded in real terms. While there are many savings accounts on the market, many do not offer much of a financial advantage, as they offer interest that only matches the base rate set by the Bank of England. We help you compare a selection of some of the best interest paying accounts.
A good instant access savings account will offer flexible withdrawal facilities with good rates of interest, and could be suited to savers looking to access their money regularly.
See here for a comparison of leading UK instant access accounts
