Savings

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Looking for something else?

Market-leading 1.5% easy-access deal

Earn 1.5% interest AER (variable) on the Easy-Access Online Saver Account from Marcus by Goldman Sachs. 

Rate includes 0.15% fixed bonus for 12 months. Minimum/maximum deposit £1/£250,000. Unlimited withdrawals.

You can’t get this offer on other comparison sites.

Marcus

Market-leading 1.5% easy-access account from Marcus by Goldman Sachs

  • Earn 1.5% interest AER (variable) on deposits from £1 - £250,000. Interest paid monthly.
  • Unlimited withdrawals from your account with no fee or loss of interest.
  • Rate includes a 0.15% fixed bonus for 12 months after which the rate falls to 1.35% AER variable.
  • Manage your account online - for sign-up enquires call 0800 085 6789.
  • Link from your current account - make deposits and withdrawals via your bank.
Marcus

Terms and conditions apply.

Get your deal

Fix your savings at 2.02% AER for one year

Earn 2.02% AER with a one-year fixed-rate bond from Union Bank of India

Online access only. Withdrawals not permitted during term.

Minimum deposit of £5,000.

You can’t get this offer on other comparison sites.

Bank of India

Earn 2.02% AER with a one-year fixed-rate bond from Union Bank of India

  • Open and manage your account online. Online access only
  • UK bank with Financial Services Compensation Scheme (FSCS) protection up to £85,000
  • Additional deposits and withdrawals are not permitted within the fixed term
  • You must be 18 or over and a UK resident to open this account
  • You must deposit a minimum of £5,000 to open the account. The maximum balance you can have in this account is £340,000 (only £85,000 will be covered by the FSCS).
Bank of India

Terms and conditions apply.

Get your deal

The best savings accounts are the ones that make your money work as hard as possible for you. With the recent rise in interest rates, it’s more important than ever to make sure your money is growing in one of the best savings accounts.

Compare savings accounts

There are various types of savings account you can compare and choose from, including easy access accounts, ISAs, fixed rate bonds and more.

It’s important to make sure your money is working as hard as possible, so regularly check you’re on the best savings rate.

These are the accounts available to open through MoneySuperMarket. We can show you all the accounts on the market, but we can only help you to open some of them.

Not sure what type of account to go for? Our Savings Decision Tree can help you decide. 

Easy access accounts

If you think you’ll need to access your savings, an easy access savings account could be a good option. These are often the best savings accounts for savers who want to withdraw their cash with little or no notice, but this flexibility means interest rates are often less competitive.

You can open the accounts below through MoneySuperMarket. We can show you all the easy access savings accounts on the market, but we can only help you to open some of them.

Ordered by interest rate
 

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Interest rate (AER)

includes bonus of % until

includes bonus of % for month months

Check introductory rate and period with provider

Min/max opening amount

{{productCurrency}}{{1 | currency : '' : 0}} to {{productCurrency}}{{250000 | currency : '' : 0}}

Notice period

none

Account type

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Go to site
Exclusive

ONLY AVAILABLE VIA MONEYSUPERMARKET AND MARCUS

Great for
  • Open and manage your account online. Start saving with just £1
  • Competitive rate of interest paid monthly
  • Free withdrawals, with no penalties or restrictions
But be aware that
  • Includes a bonus rate of 0.15% gross fixed for the first 12 months. Rates are variable and could change at any time
  • To apply for an account, you'll need to be aged 18 or over
  • Applicants must have a UK address and be resident in the UK for tax purposes (excludes residents of the Channel Islands and the Isle of Man)
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Paragon Bank Paragon Bank

Limited Edition Easy Access (Issue 7)

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Interest rate (AER)

includes bonus of % until

includes bonus of % for month months

Check introductory rate and period with provider

Min/max opening amount

{{productCurrency}}{{1 | currency : '' : 0}} to {{productCurrency}}{{100000 | currency : '' : 0}}

Notice period

none

Account type

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Go to site
Great for
  • UK based bank with FSCS protection up to £85,000
  • Free withdrawals with no penalties or notice periods
  • Open and manage your account online
But be aware that
  • Online access only
  • You must be over 18 and a UK resident to open this account
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Fixed Rate Bonds

Fixed rate bonds are savings accounts that usually pay a set rate of interest, agreed at the beginning, for a certain period of time. They generally offer higher interest rates than easy access accounts, especially if you opt for a fixed rate bond that lasts for two years or more. But, you’ll pay a penalty if you need to make a withdrawal within the fixed term.

Ordered by interest rate
 

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Interest rate (AER)

includes bonus of % until

includes bonus of % for month months

Check introductory rate and period with provider

Min/max opening amount

{{productCurrency}}{{1000 | currency : '' : 0}} to {{productCurrency}} no limit

Term

12 month bond

Account type

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Go to site
Great for
  • Competitive returns in the form of profits generated through ethical investments
  • Profits are calculated on a daily basis and are paid quarterly. They can be taken as income or reinvested
  • Deposits up to £85,000 are protected under the Financial Services Compensation Scheme
But be aware that
  • Islamic banks offer 'expected profit rates' not interest rates. Al Rayan Bank has always paid at least the expected profit rate quoted to customers
  • Deposit cannot be accessed until the end of the term
Show key information
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Interest rate (AER)

includes bonus of % until

includes bonus of % for month months

Check introductory rate and period with provider

Min/max opening amount

{{productCurrency}}{{1000 | currency : '' : 0}} to {{productCurrency}} no limit

Term

24 month bond

Account type

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Go to site
Expected Profit Rate

This account is Sharia compliant. As such, the account pays an 'expected profit rate' rather than an interest rate

Great for
  • Competitive returns in the form of profits generated through ethical investments
  • Profits are calculated on a daily basis and are paid quarterly. They can be taken as income or reinvested
  • Deposits up to £85,000 are protected under the Financial Services Compensation Scheme
But be aware that
  • Islamic banks offer 'expected profit rates' not interest rates. Al Rayan Bank has always paid at least the expected profit rate quoted to customers
  • Deposit cannot be accessed until the end of the term
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Cash ISAs

Cash ISAs will help you to take advantage of your annual tax-free ISA allowance: you can invest up to £20,000 and pay no tax on the returns. Some cash ISA accounts also allow you to transfer in money invested in the previous tax year so you can maximise returns on your tax-free savings. 

Ordered by interest rate
 

Leeds Building Society Leeds Building Society

Limited Issue Online Access ISA (Issue 7)

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Interest rate (AER)

includes bonus of % until

includes bonus of % for month months

Check introductory rate and period with provider

Min/max opening amount

{{productCurrency}}{{1000 | currency : '' : 0}} to {{productCurrency}} no limit

Notice period

none

Account type

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Go to site
Great for
  • Opening & managing your account online
  • Free withdrawals, with no penalties or restrictions
  • Available to new & existing customers
But be aware that
  • Rates are variable and can change at any time
  • Upon opening an account a minimum deposit of £1,000 is required
  • Maturity date of 1st December 2019
Show key information
Close
Go to site

Interest rate (AER)

includes bonus of % until

includes bonus of % for month months

Check introductory rate and period with provider

Min/max opening amount

{{productCurrency}}{{500 | currency : '' : 0}} to {{productCurrency}} no limit

Notice period

none

Account type

{{::product.productAttributes.accountDetails.accountTypeId | mappingFilter : referenceDataMapping}} Transfer in
Go to site
Great for
  • Transferring existing ISA balances
  • Make multiple deposits up to the £20,000 annual allowance - or the full amount in one transaction
  • For new and existing customers
But be aware that
  • Lower rate of 0.75% AER for balances that fall below £500
  • Once fully funded any withdrawals cannot be replaced
  • Interest paid annually. You must be aged 18 or over and a UK resident.
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Fixed Rate Cash ISAs

A fixed rate cash ISA will pay a guaranteed amount of interest for a set length of time. This could be one of the best savings accounts if you want to take advantage of your tax-free cash ISA allowance and can afford to lock your savings away for a few years.

Ordered by interest rate
 

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Interest rate (AER)

includes bonus of % until

includes bonus of % for month months

Check introductory rate and period with provider

Min/max opening amount

{{productCurrency}}{{500 | currency : '' : 0}} to {{productCurrency}} no limit

Term

until 03.11.23

Account type

{{::product.productAttributes.accountDetails.accountTypeId | mappingFilter : referenceDataMapping}} Transfer in
Go to site
Great for
  • You can invest your 2018/2019 ISA allowance and also transfer your existing cash ISAs
  • You can take money out of this flexible ISA and pay it back in the same tax year, without it counting against your annual ISA allowance
  • Earn a fixed rate of interest on your savings for five years
But be aware that
  • If you withdraw or transfer your money before the account matures, you'll lose 365 days' interest
  • Your funds will automatically roll into an easy access default savings account when the ISA matures on the 3rd November 2023
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Leeds Building Society Leeds Building Society

1 Year Fixed Rate ISA (Issue 114)

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Interest rate (AER)

includes bonus of % until

includes bonus of % for month months

Check introductory rate and period with provider

Min/max opening amount

{{productCurrency}}{{100 | currency : '' : 0}} to {{productCurrency}} no limit

Term

until 01.12.19

Account type

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Go to site
Great for
  • Transferring existing ISA balances
  • Online application
But be aware that
  • Withdrawals/transfers of your capital investment prior to maturity are permitted, but they will be subject to 60 days' loss of interest
  • Post and branch access only
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Notice Accounts

If you want to be able to dip into your savings but don’t necessarily need immediate access, you might find that one of the best savings accounts could be a notice account. These pay a higher rate of interest than easy access accounts, but it takes longer to get your cash. 

Ordered by interest rate
 

Paragon Bank Paragon Bank

120 Day Notice (Issue 10)

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Interest rate (AER)

includes bonus of % until

includes bonus of % for month months

Check introductory rate and period with provider

Min/max opening amount

{{productCurrency}}{{500 | currency : '' : 0}} to {{productCurrency}}{{100000 | currency : '' : 0}}

Notice period

120 days

Account type

{{::product.productAttributes.accountDetails.accountTypeId | mappingFilter : referenceDataMapping}} Transfer in
Go to site
Great for
  • UK based bank with FSCS protection up to £85,000
  • A choice between monthly or annual interest
  • Opening and managing your account online
But be aware that
  • Online access only
  • You must be over 18 and a UK resident to open this account
  • 120 days' notice is required for withdrawals
Show key information
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Wyelands Bank Wyelands Bank

95 Day Notice Account

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Interest rate (AER)

includes bonus of % until

includes bonus of % for month months

Check introductory rate and period with provider

Min/max opening amount

{{productCurrency}}{{5000 | currency : '' : 0}} to {{productCurrency}}{{1000000 | currency : '' : 0}}

Notice period

95 days

Account type

{{::product.productAttributes.accountDetails.accountTypeId | mappingFilter : referenceDataMapping}} Transfer in
Go to site
Great for
  • A choice between monthly or annual interest
  • Online application and operation
  • FSCS protection up to £85,000 per depositor
But be aware that
  • 95 days' notice is required for withdrawals
Show key information
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Not sure what account is right for you?

Choosing a savings account can be a bit baffling, but that's where our handy decision tree comes in. Simply answer a few quick questions about your savings habits, and we'll guide you towards the right type of account for you.

Get help to choose an account

 

Savings. Trust us to explain them simply

Savings Guides

  

Can't find what you're looking for? Try looking at our news, views and in-depth savings guides

Your guide to finding the best savings accounts

Some banks and building societies passed on part of last year’s increase in interest rates, announced by the Bank of England in November to their savers. But some institutions have been more open-handed than others.

The changes could have affected the competitiveness of your account. If you haven’t checked to make sure you’re on a good deal for your savings, you could be missing out.

Choosing a savings account can be a bit baffling, but that's where our handy decision tree comes in. Simply answer a few quick questions about your savings habits, and we'll guide you towards the right type of account for you.

Average savings in the UK

People are saving more than they used to. According to data from National Savings & Investments, the average amount saved per person each month has leapt from £68.85 in 2015 to £104.56 in 2015. The same statistics show that men, on average, saved £25.56 more than women in 2015.

It’s probably no surprise that people living in London saved the most in 2015, with an average of £146.33 per person. Those who lived in Wales saved the least, at £76.22 per head. 

Average monthly savings per person

How much should I save?

Our savings calculator is a great tool if you’re thinking about saving. If you tell us your savings goal, how much you can put away each month and what the interest rate of your savings account is, we’ll tell you how long you’ll need to save to reach your target.

And if you don’t have a set goal but you want to set aside some money every month, we’ll show you how your savings will grow over time.

It’s also an easy way to see how interest rates affect your savings. By changing the interest rate in the calculator, you can see how putting your money in a savings account with higher interest will help your deposit to swell.

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. 

Which savings accounts are most popular?

How do I choose a savings account?

There’s such a wide range of accounts on the market, all with different rates and different rules, that it can be hard to work out which is the best savings account for you.

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.

Here we briefly outline the different types of savings accounts:

  • Regular savings accounts (linked to a current account from the same institution): you could earn up to 5% interest and you have to deposit cash every month up to a limit of, say, £300 a month.
  • Instant/easy access accounts: the most straightforward and flexible of savings accounts, these allow you to deposit and withdraw your cash as and when you like.
  • Easy access accounts: sometimes these have higher interest rates but you need to give notice of withdrawals and could wait up to 120 days for your cash.
  • Fixed rate/bond savings accounts: these pay a fixed rate of interest for a set term, usually between one and five years, but if you withdraw money before the term expires, you usually forfeit interest.
  • Children’s savings accounts: under-18s often get high interest rates.
  • Offshore savings accounts: if you have income (or bills) paid in a foreign currency, this can be a good option.
  • Business savings accounts: 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?

Since April 2016, the introduction of a new Personal Savings Allowance (PSA) has meant that basic-rate taxpayers can earn £1,000 of savings interest without the taxman taking a slice, and higher rate taxpayers can earn £500. Additional rate taxpayers are not eligible for a PSA.

Can I save tax-free?

A cash ISA is just like an ordinary savings account, with one important exception – the interest is tax-free. You can save up to £20,000 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.

In November 2011, the Junior ISA was born. Parents, relatives and friends can invest up to £4,260 each year into a Junior ISA and the money grows tax-free until the child reaches 18. 

Average monthly savings by UK region

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 only. 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 and 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 and 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. But if your bank or building society goes bust, as long as it is regulated by the Financial Services Authority, the first £85,000 (as of 30 January, 2017) of your money is guaranteed under the Financial Services Compensation Scheme.

In the case of a joint account, £170,000 is protected.

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.