Listed below are the highest locations to place your money.
After just a few years of enhancing financial savings charges, thanks largely as a consequence of the Bank of England base interest rate increases since 2021, we’re beginning to see most charges begin to drop again so much, and that would proceed for the remainder of 2024.
You wish to be sure you’re getting the perfect fee in your financial savings, and this text will take you thru the perfect choices proper now.



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High financial savings accounts
These are the best paying rates of interest proper now on the preferred methods to avoid wasting. Discover extra info, high charges from additional suppliers and others sorts of accounts in devoted sections additional down the web page.
Finest purchase tables for different financial savings varieties
Finest quick access financial savings accounts – as much as 5%
These are essentially the most versatile accounts, although consequently, you’ll normally get decrease charges. You’ll be able to add and take your cash out at any time.
- Cahoot Sunny Day Saver (5% AER variable for 12 months): min £1 / max £3,000 (a part of Santander)
- Can have one private and one joint account
- Monument Bank via Raisin (4.87% AER variable): min £1,000 / max £85,000
- Oxbury Bank (4.87% AER variable): min £25,000 / max £500,000
- Cahoot (4.85% variable): min £1 / max £2m
- GB Bank via Raisin (4.85% AER variable): min £1,000 / max £85,000
- OakNorth Bank Straightforward Entry Restricted Version (4.82% AER variable): min £20,000 / max £500,000
- Withdrawals can be credited to your account the subsequent working day
- Monument Bank (4.81% AER variable): min £25,000 / max £2m
High restricted entry
- Chip (5% AER variable – contains 0.93% bonus for 12 months): min £0 / max £1m
- 3 withdrawals a 12 months, after which the speed reverts to three.9% AER variable. New prospects solely
- Coventry Building Society (4.83% AER variable): min £1 / max £250,000
- Chorley Building Society (4.8% AER variable): min £1,000 / £500,000
High curiosity from funding accounts
High loyalty quick access
- Ulster Bank (5.2% AER variable, drops to 4.75% on 14 October 2024): min £5,0z`aq 00 / max £1m (a part of Natwest/RBS)
- Requires Ulster Financial institution present account
With affords
- Chip powered by ClearBank (4.01% AER variable – tracks at 0.51% under base fee): min £1 / max £250,000
- As much as £50 bonus accessible
High Constructing Society
- Family Building Society (4.76% AER variable – market tracker): min £500 / max £250,000
- Charge is reviewed 4 instances a 12 months in March, June, September and December
High Sharia financial institution
- QIB via Raisin (4.8% anticipated revenue variable): min £1,000 / max £85,000
For giant deposits with full safety
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Finest discover accounts – as much as 5.15%
A discover account means you need to request to get your cash and curiosity, which can be launched after a set time. They usually have a variable fee but when there’s a reduce you’ll usually be given discover.
Six-month discover – as much as 5%
4-month discover – as much as 5%
- Charter Savings Bank (5% AER variable): 120-day discover: min £5,000 / max £1m
- Vanquis Bank (4.95% AER variable): 120-day discover: min £1,000 / max £250,000
- Cynergy Bank (4.95% AER variable) 120-day discover: min £500 / max £1m
Three-month discover – as much as 5.15%
- BLME (5.15% anticipated revenue fee variable): 90-days discover: min £20,000 / max £1m
- OakNorth Bank (5.14% AER variable): 95-day discover: min £1 / max £500,000
Two-month discover – as much as 5.05%
- Vanquis Bank (5.05% AER variable): 60-day discover: min £1,000 / max £250,000
- Monument Bank (5.01% AER variable) 60-day discover: min £25,000 / max £2m
One-month discover – as much as 4.94%
- Monument Bank (4.94% AER variable): 45-day discover: min £25,000 / max £2m
Finest present account linked quick access financial savings – as much as 6%
Among the greatest charges are in or linked to present accounts – otherwise you would possibly simply need the comfort of getting all the things on the identical financial institution (although that’s not always a good idea).
All of those accounts could be opened by anybody, although you’ll be credit score checked for opening the present account itself. They’ll usually have extra necessities or charges to absorb to account. Chances are you’ll have already got seen a few of these listed within the simple and restricted entry lists above.
Curiosity earned in separate financial savings account – as much as 6%
- Santander Edge Saver (6% AER variable, contains 1.5% bonus for 12 months): min £0 / max £4,000
- Requires Santander Edge present account (£3 month-to-month charge)
Curiosity earned in present account – as much as 5%
- Nationwide FlexDirect (5% AER variable): min £0 / max £1,500
- Kroo: (4.1% AER variable): min £0 / max £500,000
- Curiosity is earned in the primary present account
- The speed tracks the bottom fee minus 0.9% (adjustments to minus 1.1% from 26 November 2024)
Finest mounted financial savings accounts – as much as 5.3%
You’ll be able to repair your financial savings for a 12 months or longer and get a barely higher fee in return. Nonetheless, you’ll want to be certain you received’t want entry to that money over that point. The longer you repair, the higher the danger you’ll lose out if charges have been to rise. However on the identical time, they’re protected if charges have been to fall.
It’s price noting too when longer fixes offer you entry to the curiosity. With most it’s on the finish of the repair, that means all that curiosity will depend in the direction of your personal savings allowance for the 12 months you obtain it.
Three-month fixes – as much as 5.2%
- GB Bank through Prosper (5.2% AER mounted – features a bonus of 0.21% paid by Prosper on maturity): min £20,000 / max £85,000
- Oxbury Bank (5% AER mounted): min £1,000 / max £500,000
Six-month fixes – as much as 5.3%
- GB Bank through Prosper (5.3% AER mounted – features a bonus of 0.3% paid by Prosper on maturity): min £20,000 / max £85,000
- GB Bank through Raisin (5.03% AER mounted): min £1,000 / max £85,000
9-month fixes – as much as 4.85%
12-month fixes – as much as 4.9%
- Al Rayan through Prosper (4.9% anticipated revenue mounted – contains 0.1% bonus paid by Prosper on maturity): min £20,000 / max £1m
- Monument Bank (4.81% AER mounted): min £25,000 / max £2m
- Al Rayan through Raisin (4.8% AER mounted): min £1,000 / max £85,000
- BPI through Raisin (4.8% AER mounted): min £1,000 / max £85,000
18-month fixes – as much as 4.7%
- Cynergy Bank (4.7% AER mounted): min £1,000 / max £1m
- Al Rayan through Raisin (4.6% anticipated revenue mounted): min £1,000 / max £85,000
2 12 months fixes – as much as 4.7%
- RCI Bank (4.7% AER mounted): min £1,000 / max £1m
- Birmingham Bank (4.68% AER mounted): min £5,000 / max £250,000
- UBL through Raisin (4.61% AER mounted): min £2,000 / max £85,000
3 12 months fixes – as much as 4.55%
- GB Bank through Raisin (4.55% AER mounted): min £1,000 / max £85,000
- Birmingham Bank (4.53% AER mounted): min £5,000 / max £250,000
- UBL through Raisin (4.51% AER mounted): min £2,000 / max £85,000
- Hodge Bank (4.5% AER mounted): min £1,000 / max £1m
- Oxbury Bank (4.46% AER mounted): min £1,000 / max £500,000
Longer fixes – as much as 4.4%
- 4 12 months repair Hampshire Trust Bank (4.27% AER variable): min £1 / max £250,000
- 5 12 months repair GB Bank through Raisin (4.4% AER mounted): min £1,000 / max £85,000
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Finest Common Financial savings accounts
These accounts are all “Common” or month-to-month savers which work in another way to regular saving accounts. Right here’s Andy’s full guide to how they work.
We’ve listed the highest paying choices under. Discover extra common financial savings accounts in our separate best buy guide.
- Principality Building Society 6-month common saver (8% AER mounted): min £0 / max £200 a month
- HSBC Regular Saver (7% AER mounted): min £25 / max £250 a month
- requires a HSBC present account
- First Direct Common Saver (7% AER mounted): min £25 / max £300 a month
- requires a First Direct present account – full review
- Co-operative Bank Common Saver (7% variable): min £1 / max £250 a month
- Requires a Co-op Financial institution present account
- Nationwide Flex Common Saver (6.5% AER variable): min £1 / max £200 per 30 days
- max 3 withdrawals per 12 months, after which your fee drops to 2.15%.
- Requires Nationwide present account – full review
- Club Lloyds Month-to-month Saver (6.25% AER mounted): min £25 / max £400 a month
Finest Money ISAs
Although most of us don’t need the tax-free “wrapper” offered by an ISA, in case you are wanting to make use of one then the identical goes when it comes to discovering the perfect fee.
Listed below are the highest paying charges for every kind, we’ve listed extra choices over on our devoted Best Cash ISA page.
Finest auto-savings charges – as much as 5%
Apps like Chip and Plum and options like Monzo’s IFTTT are nice instruments to boost how much is in your savings. However the charges aren’t at all times the perfect. I’d personally look to switch these financial savings over to the next paying account, however within the brief time period it pays to make use of these with the perfect charges.
- Chase (5% AER variable) – fee on roundups solely – learn extra about Chase
- Chip through Clearbank (4.01% AER variable) – Prices can apply, learn extra about Chip
- Monzo (4.1% AER variable) – learn extra about IFTTT
- Plum (4% AER variable without spending a dime customers)
Prize draw accounts
Premium Bonds – 4.4% prize fee
The prize fee for Premium Bonds presently stands at 4.4%. This doesn’t imply you’ll get 4.4% again in your financial savings, although the nearer you might be to the £50,000 most deposit, the nearer you’ll get to the speed (on common). Here’s more.
Finest youngsters’s financial savings account
We’ve written in additional element in regards to the different savings accounts for kids, so do test that article out to know the circumstances corresponding to entry and discover all the highest charges.
Finest moral financial savings account
The cash you maintain in your financial savings is utilized by the banks to speculate and lend cash. This might imply it’s used for belongings you would possibly disagree with, corresponding to fracking, tobacco or arms manufacturing.
There are banks with moral insurance policies corresponding to Triodos, whereas constructing societies should lend 75% of their funds to dwelling consumers, that means they don’t have the money to speculate elsewhere.
Sharia accounts can’t be used for issues in opposition to Islamic legislation, like tobacco or playing and I’ve listed the highest ones additional down the article.
The “greenest” banks are Ecology Building Society and Triodos, although they received’t at all times make the tables above. The next banks and constructing societies usually tend to seem above.
There’s additionally the NS&I Inexperienced Bond, a 3-year fixed-rate account. It’s presently paying 2.95%. Here’s our analysis.
High Sharia financial savings accounts
Paying curiosity isn’t allowed in Islam, so a Sharia-compliant financial savings account as an alternative guarantees a return on the cash saved – an anticipated revenue fee. Although technically this implies the speed isn’t assured, it’s not occurred but. They’re open to everybody, not simply Muslims. Cash in these accounts received’t be invested in arms, tobacco, playing or tobacco.
Look within the tables above for banks providing an anticipated revenue fee moderately than AER. The principle banks are:
Discovering the newest financial savings charges
We replace this web page a few times a day (test the revealed date to see when it final occurred), however when you discover a fee has been reduce or isn’t accessible, you’ll be able to test the MoneyFacts website for a partial checklist.