This comparison simply includes all savings accounts.
Savings Accounts
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: SPECIAL OFFER - £125 for SWITCHING to an HSBC Advance Account. Earn 1.00% AER/gross when you save between £25 and £250 per month. Arranged overdraft limit of at least £1,000 on account opening. Money banking app. No monthly account fee. Easy switching with the Current Account Switch Service. Must be 18 or older and be UK resident. Must pay in £1,750 per month or £10,500 over 6 months. Must be approved for an arranged overdraft of £1,000+. Get the £125 when switching to an HSBC Advance Account as a new customer with at least 2 Direct Debits or standing orders. Eligibility criteria and T&C’s apply. Offer may be withdrawn anytime
Why we like it: SPECIAL OFFER - £100 for SWITCHING to a First Direct 1st Account. 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: Earn 0.60% AER (variable) interest on balances up to a maximum of £20,000. Up to 3% cashback on household bills - 1% on council tax bills, Mobile and home phone bills, broadband and paid-for TV packages, and Santander monthly mortgage payments. 2% on Gas and electricity bills, Santander Home Insurance premiums and Santander Life Insurance premiums, and 3% on water bills. Monthly fee of £5. Cashback capped at £5 for each cashback tier each month. Must pay in £500 pm. 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: Save from £5,000 to £500,000. No additional deposits or withdrawals permitted. FSCS Protected
Why we like it: MARKET LEADING. Save from £5,000 to £500,000. No additional deposits or withdrawals permitted. FSCS Protected
Why we like it: MARKET LEADING. Save from £5,000 to £500,000. No additional deposits or withdrawals permitted. FSCS Protected
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. Balances from £1,000 to £1 million. Unlimited withdrawals without restriction or loss of interest. Eligible deposits covered by UK FSCS.
Why we like it: Unlimited withdrawals subject to 95 days notice.
Why we like it: Which? Recommended Savings Provider. Save from £1,000 to £1,000,000. No withdrawals before the end of the term. 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: Which? Recommended Savings Provider. Save from £1,000 to £1,000,000. No withdrawals before the end of the term. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)
1. POST OFFICE MONEY Online Saver »
The Post Office is one of the best-known brands in the country with over 11,500 branches.
Their Online Saver is one of our most popular instant access accounts:
- Competitive interest rate: 1.30% AER/Gross pa (variable)
- Interest paid monthly or annually
- Unlimited withdrawals
- Manage online or via the Post Office app
- Start from just £1
- Maximum deposit - £2 million
- FSCS Protected
Quick online application from Post Office Money
2. RCI BANK »
Market leading RCI Bank offers a competitive instant access savings account.
- Highest UK rate on instant access savings 1.30% AER/Gross pa (variable)
- Interest is paid monthly or annually
- Withdrawals - Unlimited & no penalties
- Online account
- Minimum deposit - £1
- Maximum deposit - £1 million
- FSCS Protected
Quick online application setup from RCI Bank
Fixed Rate Best Buys
Ford motor company have been managing money since 1963. They offer market leading savings accounts which come under the FSCS protection scheme.
3. Habib Bank 1 Year Fixed Rate Bond »
- Fixed 1 Year 1.65% at time of writing
- Interest paid at maturity
- Open an account singly or jointly
- Minimum deposit - £1,000
- FSCS Protected up to £85,000
Quick online application from Habib Bank
4. The Access Bank UK 2 Year Fixed Rate »
Access Bank UK Market leading 2 year fixed rate.
- Fixed 2 Year 2.02% AER/Gross pa (variable)
- Interest is paid monthly or annually
- Online account
- Unlimited deposits for first 14 days
- Minimum deposit - £5,000
- Maximum deposit - £2 million
- FSCS Protected
Quick online application from UK Access Bank
Most people want to earn the highest possible rate of interest on their savings, but it’s not always obvious what the best way to do this is. There are various different options for where to put your savings to earn interest, and which option you should choose will depend on various factors.
When thinking about what kind of savings account to use, ask yourself:
- How much do you have in savings?
- What level of interest would you like to earn?
- What level of risk are you willing to take with your savings?
- Are you likely to need your savings in the near future?
Once you know the answers to these questions, it should be easier to identify which type of savings account will best suit your needs. Below are some of the most common kinds of accounts used for savings, one or more of which may be the ideal solution for your saving requirements.
Current Accounts
Many savers don’t realise that current accounts often pay some of the highest interest rates on the market. It is therefore usually a good idea to keep at least some of your savings in your current account to get the best overall rate of return.
Current accounts usually have a fairly low threshold above which they pay no interest, however, so if you have significant savings you will usually need to find another option for the balance to avoid missing out.
Easy Access Savings Accounts
Easy access savings accounts usually come with variable interest rates and allow you to add or withdraw money whenever you like. They don’t necessarily pay the most competitive rates, but are great for those who want the option to save with flexibility. They usually pay interest on much larger balances than current accounts.
Notice Savings Accounts
Similar to easy access savings accounts, except that they usually offer slightly better interest rates in exchange for you having to give the bank a set amount of notice before withdrawing funds. Notice periods vary, but 30, 60, 90 and 120 days are common.
Fixed Rate Bonds
Fixed rate bonds offer guaranteed rates of interest in exchange for agreeing not to touch your savings for a set period. They usually last for 1, 2, 3 or 5 years and some will allow you to withdraw your money early in exchange for a penalty fee.
ISAs
ISAs allow you to earn interest on your savings tax free on deposits up to a threshold decided each year by the UK government. For the 2017/2018 tax year, the limit is £20,000. There are various types of ISAs, including those offering both fixed and variable rates, plus various specialist ISAs.
Compare all high interest savings accounts
With so many different types of savings accounts and lenders to choose from, knowing where the best place to put your savings can be difficult.
The savings account comparison table at the top of this page lets you quickly and easily compare top savings accounts from all the leading providers. This offers a simple way to find the best deal for you, allowing you to start earning a good rate of return on your savings.
