Want to squeeze more out of your savings?

Use up your ISA allowance!

You can save up to £15,240 into a cash ISA before the tax year ends on April 5 – and you won’t pay a penny of tax on the interest you earn.  If you DON’T use your 2015-2016 allowance by then however, it will be gone for good.

Cash ISAs - tax free savings - featured accounts - ordered by rate (AER)

    • Provider/Product name Notice Cash ISA

      Al Rayan Bank

      Notice Cash ISA

    • Interest rate (AER) 2.00% Variable
    • Min/Max opening amount £250 to £ no limit
    • Notice / Term Notice Period: 120 days
    • Account type Notice Cash ISA Transfer In
    • Access Internet Post Telephone In Branch
    • Go to site

      More details

    Expected Profit Rate

    UK’s first Sharia compliant Cash ISA and offers an expected profit rate of 2.00%

    Great for
    Quick and easy online application
    Invest as little as £250 and transfer existing ISA balances
    UK based ethical bank with full UK regulation. The bank operates under Islamic finance principles
    But be aware that
    120 day’s notice must be given to access your funds
  1. Great for
    Minimum investment of £1,000, up to your annual Cash ISA limit for this current tax year subscription
    Easy access to your savings
    Simple online application and access
    But be aware that
    Tiered interest rate applies, balances below £15,000 are subject to a rate of 1.10% AER variable, balances below £5,000 a rate of 0.75% AER variable
  2. Great for
    The Online ISA account offers you the flexibility to spread your allowance across easy access and fixed rate products
    The flexibility to manage your money online 24/7 with unlimited penalty free withdrawals
    Ability to make additional deposits, transfer in your existing ISAs and move money between products
    But be aware that
    The Online ISA is provided by Family Investments. Savings in Post Office Money cash ISAs are deposited with Bank of Ireland UK
    If you wish to spread your ISA balance across both the variable and fixed rate accounts you will need to open the holding account first - this can easily be done as part of the online application
    A breakage charge will occur if you move money from the Fixed Rate account during the fixed term

Easy access - ideal for those who need regular access - featured accounts -ordered by rate (AER)

  1. Market leading

    Market leading easy access account, available to new and existing customers

    Great for
    Unlimited payments and withdrawals with no penalties
    7 day service and choice of monthly or annual interest
    Part of Renault’s global banking group
    But be aware that
    RCI is part of a French group, the first 100,000 euro of savers' money - equivalent to £70,634 (correct as of 04.11.2015) - is protected by the French Deposit Scheme, rather than the usual £85,000 protection currently offered by UK-owned banks

Fixed rate bonds - Maximise your savings by fixing - featured accounts - ordered by term then rate (AER)

  1. Great for
    Allows unlimited top-ups for first 30 days
    Support 7 days a week and a choice of monthly or annual interest
    Part of Renault’s global banking group
    But be aware that
    RCI is part of a French group, the first 100,000 euro of savers' money - equivalent to £70,634 (correct as of 04.11.2015) - is protected by the French Deposit Scheme, rather than the usual £85,000 protection currently offered by UK-owned banks
  2. Great for
    A Sharia'a compliant savings account
    Quick and easy online application process
    UK based ethical bank with full UK regulation. The bank operates under Islamic finance principles
    But be aware that
    Withdrawals are not permitted within the fixed term
  3. Market leading

    Market leading 5 year fixed rate bond

    Great for
    Guaranteed rate of interest for the term of the investment with interest payable annually or upon maturity
    Sterling denominated
    By depositing your savings with Agribank you are supporting British farmers. Deposits held with Agribank are invested into the British agricultural community
    But be aware that
    Must be more than 18 years of age and a UK citizen. Savings are not covered by the FSCS but the Maltese Compensation Scheme set up by the Maltese Financial Services Authority covering up to 100,000 EUR or its Sterling equivalent.
    Withdrawals are not permitted during the term
    Investment must be funded from a UK bank account. Minimum investment £5,000.

Could your money be working harder in a current account? Earn up to 5.00% AER variable on limited balances, 100% easy access to your cash.

Benefit from perks such as cashback on spending and protection under the Current Account Switch Guarantee.

Not sure what account is right for you? Use our Savings Decision Tree to help you decide!


Savings. Trust us to explain them simply

Easy access accounts


It’s always a good idea to have some savings readily available in case of emergencies. Ideally, your ‘rainy day’ savings fund should amount to between three and six months’ income...

Understanding Interest


When you deposit savings with a bank or building society you will be paid interest on the money. How much interest you earn will partly depend on...

Saving for retirement

Saving for retirement is essential if you want the financial freedom to enjoy your later years. The State Pension is currently worth a maximum of £113.10 a week.  

And even though it generally increases slightly every year, it is highly unlikely to provide the income you need to maintain a comfortable standard of living once you have stopped working.

Guide to savings

Savings Guides

Money is tight so it’s more important than ever to get a good deal on your savings, whether you are putting money aside for a holiday or for your children’s future. But it’s not always easy to find the right savings account.

The number of savings accounts on offer can also make it difficult to choose the best deal. But if you read our guide to savings and use the MoneySuperMarket website to compare all types of account, it should be simple to find a top rate. You can also work out how much interest you’ll earn by using a savings calculator.

Read more

Just remember that you need to regularly monitor your rate and maybe even switch your account to make sure your cash is always working hard.

How do I choose a savings account?

Savers can often be overwhelmed by the range of accounts on the market, all with different rates and different rules. Some people simply select the account that pays the highest rate of interest. But it’s important to look beyond the headline rate at the terms and conditions of the account. You might, for example, be able to earn 5% in a regular savings account, but if you cannot put money aside each and every month, the account is not for you.

Instant or easy access accounts are the most straightforward - and the most flexible - because you can usually deposit and withdraw your cash pretty much when you like.

If you think you might be tempted to dip into an easy access account, a notice account might be more suitable because you have to give notice of any withdrawals. The notice periods vary, but can be as long as 120 days. Always compare the rates on notice accounts against easy access deals. Notice accounts traditionally paid higher rates of interest than easy access accounts, because of their inflexibility. But these days, you can often earn more with easy access.

You might be able to earn a higher rate of interest in a fixed-rate account, sometimes called a bond. The accounts pay a fixed rate of interest for a set term, usually between one and five years, and can be ideal if you are saving for an event in the future. But watch out for penalties. If you withdraw any money before the term of the bond expires, you usually forfeit interest.

A number of banks and building societies offer regular savings account that demand a monthly commitment, usually for one year. The amount you can save in a regular account is also limited to a maximum of about £300 a month.

Older savers might be able to earn preferential rates in over 50s accounts. Interest on children’s accounts can also be high to tempt even the very youngest savers to open an account. If you need an account that accepts sterling, Euros or dollars, you might want to consider an offshore account. They can be useful if you are paid in another currency or you earn additional income in a foreign currency, perhaps from a rental property overseas.

You may also be looking for a business savings account – business savings accounts are a great way to enjoy a higher rate of interest so that your cash is working harder for you and your business.

Are my savings taxed?

Her Majesty’s Revenue & Customs automatically swipes 20% tax off your savings. If you are a 40% or 45% taxpayer, you have to declare the savings interest on your tax return and pay any additional tax due.

However, this will change from April 2016 when basic-rate taxpayers will be able to earn £1,000 of savings interest without the taxman taking a slice, and higher rate taxpayers will be able to earn £500.

Are there any tax-free accounts?

A Cash ISA is just like an ordinary savings account, with one important exception – the interest is tax free. You can find out more about the current ISA allowance here. You can save up to £15,240 in a cash ISA in the current tax year and you can choose from a range of different accounts, including easy access ISAs and fixed-rate ISAs.  Taxpayers should almost always put money in an ISA, ahead of a standard savings account. 

In November 2011, the Junior ISA was born. Parents, relatives and friends can invest up to £4,080 each year into a Junior ISA and the money grows tax-free until the child reaches 18.

Are there any catches with savings accounts?

Short term bonuses

Many of the top rate accounts include an introductory or short-term bonus. For example, an account might advertise a headline interest rate of 1.5%, which includes a bonus of one percentage point for one year. In other words, after 12 months, the rate on the account will drop to 0.5%.

The bonuses help to propel the accounts into the best buy tables, but they can work to the savers’ advantage – as long as you are prepared to search for a better deal when the bonus expires.

Deposit and withdrawal restrictions

Some accounts restrict the amount you can save, or the amount or frequency of any withdrawals. You have to make sure you don’t breach the limits otherwise you could lose interest.

Online access

It’s usually cheaper for a bank to offer internet accounts than branch based deals, so you can often earn a higher rate of interest if you manage your account online.

When is interest paid?

Interest on savings accounts is usually paid either monthly or annually. It’s probably best to opt for annual interest, unless you expect frequently to dip into your funds.

Are my savings safe?

The tough economic conditions have made savers wary of even the biggest banks in the world. But if your bank or building society goes bust, as long as it is regulated by the Financial Services Authority, the first £85,000 of your money is guaranteed under the Financial Services Compensation Scheme. If you have a lot of savings and are you are particularly nervous, you should therefore make sure you don’t deposit more than £85,000 with one institution.


How our site works

  1. Tell us which type of savings account you're interested in
  2. Use our simple savings account search if you’re unsure of the best account type
  3. You can choose the account that suits you best and apply online through the provider

Why are we the best website for savings comparison?

Simply because we offer a free, independent and whole of market view. That’s all savings accounts in one place.

How our site is paid for

We like being straightforward at MoneySuperMarket, so we want to let you know how we get paid. 

How do we make money on savings accounts at MoneySuperMarket?

When someone applies for a savings account through MoneySuperMarket, the bank or building society that runs that account will usually pay us a fee. 

We don’t work directly with all banks and building societies, so we don’t make any money from some of the savings accounts we show. 

Do we offer the ‘whole of market’ on savings accounts?

We try to, but not every bank or building society offering savings accounts wants to be on our site. 

We include as many savings accounts as we can on MoneySuperMarket – including accounts from banks and building societies we work with and those we don’t.

You can apply for savings accounts from banks and building societies we work with by clicking ‘Go to site’. If you’d like to apply for a savings account from a company we don’t work with, you may have to go to their website directly.

The accounts in our ‘featured’ lists are from banks and building societies we work with.

You can choose to ‘see all’ the savings accounts on our site, or go here to see all the accounts.

How do our relationships with banks and building societies affect our service to you?

We never allow banks and building societies to get in the way of what’s best for our customers. So we always display savings accounts by their benefits to you – such as the best interest rate – never by what’s best for a bank or building society. 

Why are we telling you this?

Our services are always free to you, our customers. But we think it’s important that we’re transparent about how we earn money, so you can be confident we put our customers first.


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