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This comparison simply includes all savings accounts.

Post Office
Online Saver Post Office
Min deposit £1
Term Instant Access
Interest AER 1.30%

Why we like it: MARKET LEADING - REGULAR SAVER, LOWEST MINIMUM. Earn 1.30% gross/AER variable. Open with £1. Unlimited free withdrawals. Interest paid monthly or annually. Manage your account online. FSCS protected

RCI Bank
Freedom Savings Account RCI Bank
Min deposit £100
Term Instant Access
Interest AER 1.30%

Why we like it: MARKET LEADING RATE. No notice period. Deposit from £100. Interest paid monthly or annually. Apply in minutes.

Ford Money
Flexible Saver Ford Money
Min deposit £1
Term Instant Access
Interest AER 1.17%

Why we like it: Open with £1. Unlimited deposits and withdrawals. Open an account singly or jointly. Interest can be paid monthly or annually. Eligible deposits covered by UK FSCS.

The Access Bank UK
Fixed Rate Bond The Access Bank UK
Min deposit £5000
Term 1 Year
Interest AER 1.80%

Why we like it: Save from £5,000 to £500,000. No additional deposits or withdrawals permitted. FSCS Protected

Ford Money
Fixed Saver Ford Money
Min deposit £500
Term 1 Year
Gross AER 1.70%

Why we like it: Minimum deposit £500. Open an account singly or jointly. Interest can be paid monthly or annually. Eligible deposits covered by UK FSCS.

The Access Bank UK
Fixed Rate Bond The Access Bank UK
Min deposit £5000
Term 2 Years
Interest AER 2.05%

Why we like it: Save from £5,000 to £500,000. No additional deposits or withdrawals permitted. FSCS Protected

Ford Money
Fixed Saver Ford Money
Min deposit £500
Term 2 Years
Gross AER 1.85%

Why we like it: Minimum deposit £500. Open an account singly or jointly. Interest can be paid monthly or annually. Eligible deposits covered by UK FSCS.

Masthaven Bank
Flexible Term Saver Masthaven Bank
Min deposit £500
Term 30 Months
Interest AER 1.85%

Why we like it: 30 month term. Interest can be paid monthly or annually. Minimum deposit £500, Maximum deposit £250,000. No withdrawals permitted. FSCS Protected

The Access Bank UK
Fixed Rate Bond The Access Bank UK
Min deposit £5000
Term 3 Years
Interest AER 2.25%

Why we like it: Save from £5,000 to £500,000. No additional deposits or withdrawals permitted. FSCS Protected

Masthaven Bank
Flexible Term Saver Masthaven Bank
Min deposit £500
Term 4 Years
Interest AER 2.23%

Why we like it: 4 year term. Interest can be paid monthly or annually. Minimum deposit £500, Maximum deposit £250,000. No withdrawals permitted. FSCS Protected

Masthaven Bank
Fixed Rate Bond Masthaven Bank
Min deposit £500
Term 5 Years
Interest AER 2.30%

Why we like it: 5 year term. Interest can be paid monthly or annually. Minimum deposit £500, Maximum deposit £250,000. No withdrawals permitted. FSCS Protected

Compare high interest savings accounts

With any savings account, the interest rate you earn makes a big difference to the ongoing value of your money. There are several different options when it comes to high interest savings accounts, so it’s important to understand the various possibilities and work out which one best fits your needs.

Current Accounts

The highest interest rates are often found with current accounts, although these usually only apply up to a certain deposit threshold. For example, TSB will give you 5% AER on their TSB current account for balances up to £2,000, while Santander pay 1.5% AER up to a limit of £20,000.

If your savings go over the interest-paying limit on your current account, you will need to move them to a different kind of account to get the maximum return on your money. It’s also worth bearing in mind that some current accounts offer higher rates for a limited time after you sign-up and then drop to a much lower interest rate long term. You may therefore be better placing your money into a different kind of account, with a fixed interest rate, for saving over a longer period.

Fixed Rate Bonds

If you are willing to lock your money away for a fixed term (generally 1-5 years) you can get very attractive rates of interest that are guaranteed for the length of that fixed term. The longer you can go without access to your savings, the better interest rate you will usually be offered.

Because you won’t have access to your savings if you need them, fixed rate bonds are generally best suited to long term saving. They are, however, often a good choice if you have a large lump sum you wish to see a return on, as the maximum deposits are often as high as £5million.

Regular Savings Accounts

For people who want to build up their savings over time, a regular savings account will usually offer an attractive rate of interest. To qualify, you will need to commit to making a minimum deposit each month and there will usually be a maximum deposit as well, which prevents you from building up your savings too quickly. There will usually also be a yearly limit to how many times you can take money out of your account if you need to.

Because you can only grow your savings pot slowly with a regular savings account, it will take a while before you start seeing any significant returns on your money. However, if you are planning for long term savings this can be an attractive option.

Notice Savings Accounts

If you want to be able to access your savings when you need them, but still get a good interest rate, a notice savings account can be a good compromise. This allows you to remove money from your account whenever you want as long as you give your account provider an agreed period of notice first.

In exchange you will usually be offered a better rate of interest than you would get with an account that gives instant access to your money. Notice periods generally start from around 30 days, but the more notice you are willing to give, the higher rate of interest you will usually receive.

Cash ISAs

Cash ISAs may not necessarily offer the very best rates of interest, but this can be offset by the fact that they allow you to earn interest tax-free on deposits up to a yearly maximum set by the government. That amount is £20,000 for the 2017/18 tax year.

Fixed-term cash ISAs will usually offer the best return with similar conditions to fixed rate bonds (i.e. not being able to remove funds before your ISA matures and receiving higher interest rates the longer the account term).

Instant access cash ISAs give you more flexibility by allowing you to put money in and take it out at your convenience, but the trade-off is that you will usually be offered a lower interest rate that for a fixed-term cash ISA.

Find the best high interest savings account for you

The interest rates offered by various brands on their savings accounts vary over time in response to market conditions and consumer demand. This can make finding the best interest rate available at any giving moment a challenge.

Our high interest savings accounts comparison table (above) allows you to easily size up the best deals we have sourced from across the industry to find the right choice for you. That way you can be confident of finding the best savings account for your needs.

Latest news

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In these low interest times getting a decent rate of return on your cash is not easy. Surprisingly some of the best interest rates are available via current accounts.

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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.