This comparison simply includes all savings accounts.
High Interest Savings Accounts
Why we like it: No notice period. Deposit from £100. Interest paid monthly or annually. Apply in minutes.
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.
Why we like it: Earn 1.00% gross/AER on balances from £1,000 to £1 million. Unlimited withdrawals without restriction or loss of interest.
Why we like it: Unlimited deposits and withdrawals. Save from £1,000 to £250,000. Interest paid monthly. Eligible deposits covered by UK FSCS.
Why we like it: 6 month term. Interest can be paid monthly or annually. Minimum deposit £500, Maximum deposit £250,000. No withdrawals permitted. FSCS Protected
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.
Why we like it: Interest can be paid monthly, quarterly or at maturity - Minimum deposit £1,000 - Maximum deposit £200,000 - No withdrawals permitted - FSCS Protected
Why we like it: 3 year term. Interest can be paid monthly or annually. Minimum deposit £500, Maximum deposit £250,000. No withdrawals permitted. FSCS Protected
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
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.
The highest interest rates are often found with current accounts, although these usually only apply up to a certain deposit threshold.
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.
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 that you wish to see a return on, as the maximum deposits are often as high as £5million.
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, then this can be an attractive option.
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 may not necessarily offer the very best rates of interest, but this can be offset by the fact that they allow you to earn tax-free interest 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 in the industry to find the right choice for you. That way you can be confident of finding the best savings account for your needs.