Easy access · Fixed rate · Cash ISA · Regular savers — compared by rate and purpose
The best savings account depends on when you need your money and how much tax you pay. We've compared every major type — from instant access accounts paying competitive rates to fixed-term bonds and tax-free Cash ISAs — so you can match the right account to your goal.
Tax-free tip: Basic rate taxpayers can earn £1,000 in savings interest tax-free (£500 for higher rate, £0 for additional rate) before tax applies. If you have large savings or pay 40% tax, a Cash ISA or Stocks & Shares ISA keeps interest permanently tax-free.
At a glance — by account type
Account type
Indicative rate
Access
FSCS
Easy access
4.5–5.2% AER
Instant
£85k
Notice (90 day)
4.7–5.3% AER
90-day notice
£85k
Fixed rate (1 yr)
4.5–5.0% AER
Locked until maturity
£85k
Cash ISA
4.0–4.8% AER
Varies (easy / fixed)
£85k
Regular saver
5.0–7.0% AER
Monthly contributions
£85k
NS&I Premium Bonds
4.40% prize fund rate
Instant
Govt-backed
Rates are indicative as of May 2026. Always check the provider's current rate before opening. Rates change frequently.
Best easy access savings accounts
ChipTop easy access rate
Rate ~5.1% AER (variable)
Min deposit £1
FSCS £85,000
Chip's app-based easy access account consistently features near the top of the best-buy tables. Money can be withdrawn any working day. The app also has autosave features that move spare cash from your current account automatically.
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Marcus by Goldman SachsMost trusted
Rate ~4.7% AER (variable)
Min deposit £1
FSCS £85,000
Marcus consistently offers one of the most competitive rates among established banks. Backed by Goldman Sachs, it combines a strong rate with a straightforward web interface — no app required. A good choice if you value simplicity and brand trust over chasing the very top rate.
We may earn a commission if you sign up via our link — this doesn't affect our editorial independence.
Best fixed-rate savings accounts
Atom BankTop fixed rate
Rate ~4.9% AER (1 yr fixed)
Min deposit £50
FSCS £85,000
Atom Bank's fixed-term savings accounts regularly feature at the top of the best-buy tables for 1, 2 and 3-year terms. The app is clean and deposits are quick. Ideal if you won't need the money for a defined period and want to lock in a guaranteed return.
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ZopaRunner-up fixed rate
Rate ~4.85% AER (1 yr fixed)
Min deposit £1,000
FSCS £85,000
Zopa's fixed savings accounts offer competitive rates and easy setup via the app. Zopa also has a Smart Saver (easy access) and credit card products, making it useful as a one-stop fintech savings hub.
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Best Cash ISA
Trading 212 Cash ISATop cash ISA rate
Rate ~4.9% AER (variable)
Annual allowance £20,000
FSCS £85,000
Trading 212's Cash ISA has consistently offered one of the highest easy-access Cash ISA rates in the UK market. Interest is tax-free and the account can also hold stocks alongside cash. You can transfer in existing ISAs from other providers.
Pros
Market-leading easy-access Cash ISA rate
Tax-free interest — no PSA consumed
Flexible ISA — withdraw and replace in same tax year
ISA transfers in accepted
Cons
App and web platform can feel complex vs pure cash-ISA providers
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Best for safety — NS&I Premium Bonds
NS&I Premium Bonds100% Government-backed
Prize fund rate 4.40% (tax-free)
Min holding £25
Protection HM Treasury — unlimited
Premium Bonds aren't a traditional savings account — instead of interest, you enter a monthly prize draw (prizes are tax-free and range from £25 to £1 million). The 4.40% prize fund rate is the equivalent average return, but individual returns vary by luck. Best for those who want absolute safety on large sums above the £85k FSCS limit.
Pros
100% government-backed — no limit on protection
All prizes completely tax-free
Instant access — no notice required
Excitement of monthly prize draw
Cons
Returns vary — most holders earn below the headline rate
NS&I is government-owned. We do not earn a commission on NS&I referrals.
Best regular saver
First Direct Regular SaverTop regular saver rate
Rate 7.00% AER (fixed 1 yr)
Monthly limit £300/mo
FSCS £85,000 (via HSBC)
First Direct's regular saver pays 7% on up to £300 per month for 12 months. You must hold a First Direct current account (which requires a £1,000 monthly pay-in). The maximum interest on £300/mo over a year is around £136 — small in isolation, but the highest guaranteed rate available.
Pros
7% is the highest rate available on any savings product
We may earn a commission if you sign up via our link — this doesn't affect our editorial independence.
Which savings account is right for you?
Emergency fund (3–6 months)
Use an easy access account (Chip or Marcus). You need instant access if the worst happens — never lock emergency savings in a fixed account.
Short-term goal (1–2 years)
A 1-year fixed rate (Atom Bank) locks in a guaranteed return if you know you won't need the money. A 90-day notice account is the flexible middle ground.
Higher rate taxpayer
Only £500/yr of savings interest is tax-free. Move savings above that threshold into a Cash ISA to avoid income tax on interest.
Long-term wealth building (5+ years)
A Stocks & Shares ISA or SIPP will likely outperform any savings rate over 10+ years through investment returns.
Tax warning for higher earners: If your income exceeds £50,270, you're a higher rate taxpayer. Your Personal Savings Allowance drops to £500 — meaning interest on as little as £10,000 in a competitive easy access account (~£500 interest) could trigger a tax bill. A Cash ISA or Stocks & Shares ISA keeps all returns permanently tax-free.
The Personal Savings Allowance (PSA) lets basic rate taxpayers earn £1,000 in savings interest tax-free per year. Higher rate taxpayers get £500. Additional rate taxpayers (income over £125,140) get no PSA at all. A Cash ISA is always tax-free regardless of your tax band — interest never counts toward the PSA.
Yes. All savings accounts from UK-authorised banks and building societies are protected by the FSCS up to £85,000 per person per institution (£170,000 for joint accounts). NS&I is 100% government-backed with no upper limit. If you have more than £85k, split savings across multiple institutions.
If your annual savings interest will stay within your Personal Savings Allowance (£1,000 basic / £500 higher rate), an easy access account is simpler and often pays a slightly higher rate. If you're a higher rate taxpayer, have large savings, or want to protect future interest permanently, a Cash ISA is better — interest is always tax-free regardless of amount.
A notice account requires you to give advance notice before withdrawing — typically 30, 60 or 90 days. In exchange, rates are usually 0.1–0.3% higher than comparable easy access accounts. They suit savings you won't need immediately but don't want to lock away for a fixed term.