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This comparison simply includes all savings accounts.

Post Office
Online Saver Account Post Office
Min deposit £1
Term Instant Access
Interest AER 5.06%

Why we like it: MARKET LEADING INSTANT ACCESS ACCOUNT. Choose monthly or annual interest payments. Unlimited deposits and withdrawals. 24/7 access to your savings. Open and manage online. After 12 months the rate will revert to the underlying rate, currently 1.55% gross/AER variable. Post Office Online Saver is provided by Bank of Ireland UK. Must be UK resident. Must be aged 18 or older. FSCS protected

Investec Savings
90 Day Notice Account Investec Savings
Min deposit £5000
Term 90 Day Notice
Interest AER 5.25%

Why we like it: Unlimited deposits and withdrawals. Interest paid monthly: can be added to your Notice Saver or paid to your linked account. Easy application process, you just need a UK mobile phone and UK driving licence or passport. Manage account online. Maximum balance £250,000. Withdrawals subject to 90 days notice. Must be aged 18 or older and have a UK address. Must have a linked UK current account

Hampshire Trust Bank
Online Easy Access Account Hampshire Trust Bank
Min deposit £1
Term Instant Access
Interest AER 4.90%

Why we like it: Unlimited payments and withdrawals. Interest paid annually. Open in a single or a joint name. Maximum deposit £250,000. FSCS Protected. Winner of Platinum Feefo Trusted Service Award in 2021. Must be UK resident and be aged 18 or older

Leeds Building Society
Limited Issue Online Access Account Leeds Building Society
Min deposit £1000
Term Instant Access
Interest AER 4.85%

Why we like it: Interest paid annually. Unlimited deposits and withdrawals. Open and manage online. FSCS Protected. Must be UK resident and be aged 18 or older

Wombat Invest
GB Bank Base Rate Tracker Savings Account brought to you by Wombat Invest
Min deposit £500
Term Easy Access
Interest AER 4.91%

Why we like it: Easy access savings account that tracks the Bank of England base rate. Wave goodbye to the constant cycle of account hopping and forget waiting for banks to pass on higher interest rates. Interest rate moves with the Bank of England base rate, guaranteeing a fixed margin of up to 0.5% below, and adjusts the very next day. Easy access to your money with once a month withdrawals, without notice and without fees. Earn daily interest on your money, and experience the power of compounding to make your savings work harder. Maximum deposit £250,000. Wombat has partnered with GB Bank to bring you the Base Rate Tracker. GB Bank is an award-winning, fully authorised and regulated UK bank. FSCS eligible on your deposits. Must be UK resident. Must be aged 18 or older

Chip
Instant Access Account Chip
Min deposit £1
Term Instant Access
Interest AER 4.84%

Why we like it: A new savings account from Chip built to move with the Bank of England and reward you faster than the banks. Interest paid monthly. Deposit and withdraw almost instantly. No fees or charges for holding account. FSCS eligible on your deposits. Must be UK resident. Must be aged 18 or older.

Yorkshire Building Society
Internet Saver Plus Yorkshire Building Society
Min deposit £1
Term Instant Access
Interest AER 4.80%

Why we like it: Tiered interest: £1 to £10,000 – 4.80% Gross/AER, £10,001 to £50,000 – 4.80% Gross/AER, £50,001 to £500,000 – 4.80% Gross/AER. Unlimited payments and withdrawals. Interest paid annually. Open in a single or a joint name. Maximum deposit £500,000. Open and manage account online. FSCS Protected. Must be UK resident. Must be aged 16 or older

RCI Bank
Freedom Savings Account RCI Bank
Min deposit £100
Term Instant Access
Interest AER 4.75%

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)

Investec Savings
Online Flexi Saver Investec Savings
Min deposit £5000
Term Instant Access
Interest AER 4.70%

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)

Ford Money
Flexible Saver Account Ford Money
Min deposit £1
Term Instant Access
Interest AER 4.60%

Why we like it: Interest paid monthly or annually. Open in a single or joint name. Unlimited deposits and withdrawals. Covered by the FSCS. Must be UK resident. Must be aged 16 or older

RCI Bank
E-Volve 14 Day Notice Account RCI Bank
Min deposit £1000
Term 14 Day Notice
Interest AER 4.80%

Why we like it: All funds deposited into the RCI Bank E-Volve Savings 14 Day Notice Account will be used to fund pure electric vehicles and charging facilities. Interest paid monthly or annually. Manage account online. UK-based support, seven days a week. Which? Recommended Savings Provider. Unlimited withdrawals subject to 14 days notice. Must be UK resident. Must be aged 18 or older. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)

Hampshire Trust Bank
Fixed Rate Bond Hampshire Trust Bank
Min deposit £1
Term 6 Months
Interest AER 5.18%

Why we like it: MARKET LEADING 6 MONTH FIXED RATE BOND. Interest paid at maturity. Open in a single or a joint name. Maximum deposit £250,000. FSCS Protected. Winner of Platinum Feefo Trusted Service Award in 2021. Must be UK resident and be aged 18 or older. No withdrawals permitted

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When to switch current accounts

Many people do not realise the benefits they can receive by changing their current account – whether to a different one with the same bank or building society, or a new provider altogether.

Different current accounts can offer significantly different rates of interest and other benefits, which can make switching a good idea. Switching your current account is now relatively straightforward and hassle-free thanks for the Current Account Switch Service (more on which below).

Many current accounts allow you to:

  • Earn attractive rates of interest on your savings
  • Get cashback on household bills
  • Receive other benefits, such as free insurance or anti-virus software

It is worth regularly checking to see whether you can find a better deal, especially if your circumstances have changed since you opened your current account e.g. you now tend to be in credit rather than in your overdraft, or you have moved from rented accommodation to owning your own home.

Current Account Switch Service

The Current Account Switch Service makes changing current accounts fast, simple and stress-free. It covers 99% of UK current accounts, so chances are both the account you have now and the one you want to move to will be eligible.

All you have to do is ask your new bank or building society to move your old account using the Current Account Switch Service. They will then handle the whole process of moving your account over on a date of your choosing, preserving all of your existing Direct Debits and standing orders.

This means you don’t have the hassle of cancelling all your payments and restarting them from your new account, saving you time and ensuring you don’t miss any payments.

Find the best current accounts to switch to

If you are thinking of changing your current account, make sure to compare what is currently available from all the top providers. The current account comparison tool at the top of this page lets you quickly and easily compare deals from all the leading banks and building societies.

Three of the most popular current accounts right now, offering great interest rates and benefits are:

Santander Everyday Current Account - £175 cashback for switching

Switch to the Santander Everyday Current Account and you will receive £175 cashback. You have to complete a full switch to a Santander Everyday Current Account within 60 days, set up 2 Direct Debits, pay in £1,000 and log into Online or Mobile Banking.

Nationwide FlexDirect Current Account - £100 for switching

Nationwide offer £100 for switching to their FlexDirect Account, or £125 if already a Nationwide member. To qualify you must complete full switch online to the account from another building society or a bank, and make sure you switch over 2 Direct Debits as part of your switch. 

First Direct 1st Account - £175 cash switching bonus, or £20 for opening without switching 

First Direct 1st Account offer a £175 incentive for switching to their 1st Account, or £20 for opening account without switching. You will need to switch your everyday banking to First Direct using the Current Account Switch Service, and you will have to pay in at least £1,000 during the first three months you hold the account.

Santander 123 Current Account - £175 cashback for switching

Santander are offering a £175 cashback incentive to switch to their 123 Current Account. To qualify you must complete a full switch to a Santander Everyday Current Account within 60 days, set up 2 Direct Debits, pay in £1,000 and log into Online or Mobile Banking.

Nationwide FlexPlus Current Account - £100 for switching

If you switch to the Nationwide FlexPlus current account they will pay you £100 (or £125 if already a Nationwide member). To qualify you must complete full switch online to the account from another building society or a bank, and make sure you switch over 2 Direct Debits as part of your switch. 

Santander 123 Lite Current Account - £175 cashback for switching

Santander also offer a £175 cashback bonus if you switch to their 123 Lite Current Account. Again, to qualify you must complete a full switch to a Santander Everyday Current Account within 60 days, set up 2 Direct Debits, pay in £1,000 and log into Online or Mobile Banking.

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Simplysavingsaccounts.co.uk is a trading style of Fair Investment Company Ltd.

We've been comparing savings and current accounts for many years so you can trust you're in good hands.