For more than a decade, UK savings accounts offered almost nothing. A balance of £10,000 in an average easy-access account in 2020 would have earned roughly £10 in interest over a year. Today, that same balance in the best account earns over £470.
The Bank of England base rate rose sharply from 2022 and — while it has eased from its peak — rates available to savers remain historically generous. The problem is that the difference between the best and worst account is enormous: some banks are still offering 0.5%, while others offer over 5%. Knowing which account is right for you could be worth hundreds of pounds a year.
Fixed-rate bond: Lock your money for 1–3 years for a higher guaranteed rate — best for money you definitely won't need.
Cash ISA: Interest is tax-free — essential if you're likely to exceed the Personal Savings Allowance (£1,000/year for basic rate taxpayers).
The Best Easy-Access Savings Accounts (April 2026)
| Provider | Account | AER Rate | Min. Deposit | Withdrawals | FSCS Protected |
|---|---|---|---|---|---|
| Atom Bank Best Rate | Instant Saver | 4.85% | £1 | Unlimited | ✅ Yes |
| Chip | Easy Access | 4.77% | £1 | Unlimited | ✅ Yes |
| Marcus by Goldman Sachs | Online Savings | 4.60% | £1 | Unlimited | ✅ Yes |
| Monzo | Instant Access Pot | 4.50% | £0 | Unlimited | ✅ Yes |
Best Fixed-Rate Bonds (April 2026)
| Provider | Term | AER Rate | Min. Deposit | Early Withdrawal? |
|---|---|---|---|---|
| Gatehouse Bank Best 1-Year | 1 Year | 5.10% | £1,000 | No |
| Secure Trust Bank | 2 Years | 4.95% | £1,000 | No |
| Hampshire Trust Bank | 3 Years | 4.75% | £1,000 | No |
Not sure which easy-access account pays the most right now? MoneySupermarket updates savings rates daily — enter your balance and see your personalised top picks.
Compare Savings Accounts →Best Cash ISAs (April 2026)
The Cash ISA annual allowance for 2026/27 is £20,000. Any interest earned within an ISA is completely tax-free, even for additional rate taxpayers.
| Provider | Type | AER Rate | ISA Transfer? |
|---|---|---|---|
| Trading 212 Best Flexible ISA | Flexible ISA | 5.02% | ✅ Yes |
| Plum | Easy-Access ISA | 4.92% | ✅ Yes |
| Paragon Bank | Fixed-Rate ISA (1yr) | 4.85% | ✅ Yes |
The Cash ISA allowance is £20,000 for 2026/27 — and all interest is completely tax-free. Trading 212 currently offers 5.02% AER on their Flexible ISA.
Compare Cash ISA Rates Today →How Much Could You Actually Earn?
Let's put the numbers in concrete terms. Assuming a £10,000 lump sum and no withdrawals:
| Account Type | Rate | Earnings After 1 Year | After 2 Years (compounded) |
|---|---|---|---|
| High Street Bank (typical) | 1.50% | £150 | £302 |
| Best Easy-Access | 4.85% | £485 | £993 |
| Best Fixed-Rate Bond | 5.10% | £510 | £1,046 |
| Difference (Best vs Typical) | — | +£360/yr | +£744 |
Important Things to Check Before Opening an Account
- FSCS Protection: Always verify the account is covered by the Financial Services Compensation Scheme (up to £85,000 per person, per institution).
- Rate type: Some "bonus" rates drop sharply after an introductory period. Check the underlying rate.
- Tax implications: If your savings interest exceeds £1,000/year (basic rate) or £500/year (higher rate), you'll owe tax on the excess — unless it's in an ISA.
- Access restrictions: "Easy-access" accounts sometimes limit the number of monthly withdrawals. Check the terms.
Find the Best Savings Rate for Your Money Today
Rates change weekly. Use a comparison tool to see the highest-paying accounts available to you right now — takes under 2 minutes.
Affiliate link — HelpSurf may earn a small commission if you open an account via this link, at no extra cost to you.
Our Recommendation
For most people, the optimal strategy in 2026 is to hold 3–6 months of expenses in the best easy-access account (currently Atom Bank at 4.85%), and put any remaining long-term savings into a 1-year fixed-rate bond (Gatehouse Bank at 5.10%) or a Cash ISA (Trading 212 at 5.02%) if you're approaching your Personal Savings Allowance.
"The single most effective financial action most UK savers can take right now is to move their money out of their current account and into a dedicated high-interest savings account."
