UK savings rates, by product type
Rate ranges across the main UK savings products, with the trade-offs that decide which one fits a given chunk of cash. We don’t publish named-provider comparisons — those move daily and need a regulated data feed. For today’s top picks, the live aggregators below are where we send you.
- Moneyfacts Compare — the most thorough aggregator. Filter by product type, term and minimum deposit.
- MoneySavingExpert — fewer products, but updated quickly when market-leading offers land or close.
- Bank of England base rate — context for whether market rates are likely to rise, hold or fall.
Easy-access cash ISA
- No lock-in. Withdraw any time.
- Money that might be needed within 12 months but should still earn interest tax-free.
- Some headline rates include a 12-month bonus that drops afterwards — check the rate at month 13.
- Not all easy-access ISAs are flexible. A flexible ISA lets you withdraw and redeposit without using more allowance; a non-flexible one does not.
- Some accounts cap withdrawals (e.g. three per year) and revert to a low rate afterwards.
Easy-access savings (non-ISA)
- No lock-in. Withdraw any time.
- Cash above the £20,000 ISA allowance, or cash that produces interest below the Personal Savings Allowance (£1,000 basic-rate / £500 higher-rate).
- Interest above the PSA is taxable at your marginal rate.
- Bonus-rate headline products often pay less after the first 12 months.
- FSCS protection is £85,000 per banking group — check that two brand names aren’t under the same licence.
Fixed-rate cash ISA (1–2 years)
- 12–24 months lock-in. Early withdrawal penalty applies.
- Money that genuinely won’t be needed within the term and shouldn’t pay tax on interest.
- Many fixed-rate ISAs don’t accept further deposits after opening — top up before the funding window closes.
- Withdrawing early typically forfeits 90–180 days of interest.
- Transfers in are often allowed only at opening, not later.
Fixed-rate savings bonds (1–5 years)
- 12–60 months lock-in. Most cannot be accessed early.
- Cash earmarked for a specific date — house deposit, planned tax bill, school fees.
- Interest is taxable above the Personal Savings Allowance.
- Some bonds pay interest annually only — others monthly. The monthly-interest version usually has a slightly lower AER.
- NS&I products are 100% government-backed beyond the £85k FSCS limit.
Regular savers
- No lock-in usually, but capped monthly deposits.
- Drip-feeding from monthly salary — these pay the headline-grabbing rates but on small sums.
- Monthly deposit caps are typically £100–£500. The advertised rate is on the average balance, which is far less than what a lump sum in a fixed bond would earn.
- Many are restricted to existing current-account customers.
- After the initial 12-month term, balances usually drop into a much lower easy-access rate.
Lifetime ISA (cash)
- Penalty-free only for a first home (under £450k) or after age 60.
- Under-40s saving for a first home, where the 25% government bonus matters more than the headline interest rate.
- The 25% government bonus is paid on contributions up to £4,000 per tax year — so up to £1,000 per year.
- Withdrawing for anything other than a qualifying first home or age-60+ retirement triggers a 25% penalty on the withdrawn amount, which translates to a small loss on your own money.
- The £450,000 property cap has not changed since 2017 and is increasingly tight in London.
NS&I Premium Bonds
- No lock-in. Withdraw any time.
- Cash savers who prefer prize-draw upside over guaranteed interest, and who value 100% NS&I protection beyond the £85k FSCS limit.
- The "rate" shown is the prize-fund rate — your actual return depends on luck and follows a long-tailed distribution.
- Prizes are tax-free and don’t need declaring.
- Maximum holding is £50,000.
Notice accounts
- Withdrawals require 30–120 days’ notice.
- Cash you want to earn more than easy-access on but can plan withdrawals 1–4 months ahead.
- Forgetting the notice period is the most common reason these underperform expectations.
- Some notice accounts have variable rates that can be cut at the provider’s discretion.
- Less common than easy-access or fixed — fewer products to compare.
A few things the table doesn’t show
- FSCS protection covers up to £85,000 per banking group, per individual. NS&I products are 100% government-backed without that cap.
- Tax treatment differs: ISA interest is tax-free; outside an ISA, basic-rate taxpayers get a £1,000 Personal Savings Allowance, higher-rate get £500, additional-rate get nothing.
- Headline rates often expire. A 12-month bonus rate that drops to ~1% afterwards is not really a 4.5% account — it’s a 4.5% loss-leader followed by a low one.
- Comparing AER vs gross is important. AER assumes interest is added and earns more interest; gross is the headline before compounding. Always compare AER to AER.