The 7 major high street banks offering worst interest rates on savings – as low as 0.9% | Personal Finance | Finance

Some of the UK’s biggest banks are offering some of the worst interest rates on savings, according to new research by Which?. Banks including Barclays, HSBC, Lloyds, Metro Bank, Santander, and Halifax are trailing far behind building societies and digital banks, with rates as low as 0.9%. The consumer group analysed 12 weeks of interest rate data and surveyed over 6,000 savers. The aim was to find out which providers offered the most competitive rates and the best customer service.

Metro Bank came bottom for interest rates, scoring just 18%. According to Which?, it offered the worst-performing account – an Instant Access Savings Account paying just 0.9% AER, a rate still available at the time of finalising the study (October 30). HSBC was also among the worst performers, scoring 27%. In the summer, its Flexible Saver paid 1.33%, but this has now dropped to 1.15%.

Lloyds, Bank of Scotland, and Halifax were all offering 1.2% during the summer, but those accounts now pay even less at 1.1%.

Barclays had an instant access savings account offering 1.16% and an ISA paying 1.11%, both of which have since fallen to 1.06%.

Santander was the only major bank in the bottom seven to improve its rates slightly, increasing some accounts from 1.2% to 2% since the analysis.

Reena Sewraz, the retail and money editor at Which?, said: “Many savers in our survey had been with the same bank for decades, but our latest analysis shows that in many cases, that loyalty is being taken for granted by some of the biggest names in the business.”

She added: “Though smaller building societies and digital banks are leading the charge with excellent customer service and interest rates to match, some savers may still be nervous to make the move to a lesser-known brand.

“Savers don’t need to be worried about making the switch though – every provider listed in our analysis is backed by the Financial Services Compensation Scheme, which protects customers’ money should authorised firms fail.”

Which? also measured customer satisfaction. Virgin Money scored the lowest with just 60%, followed by Santander and Halifax with 63%.

Royal Bank of Scotland, NatWest, Metro Bank, Bank of Scotland, Lloyds and HSBC all scored 64% to 67%, placing them in the bottom half.

Virgin Money was given just two stars for overall customer service and phone support. One person told Which?: “It’s hard to speak to someone other than a bot.”

Another said: “I had a good introductory rate, but it was dropped soon after.”

In contrast, Charter Savings Bank came out on top for customer score with 82%, earning five stars for online banking and service.

One user said: “It has consistently offered one of the best rates on the market over the last few years, and is still above most high street banks.”

Trading 212 got the highest interest rate score overall at 93%, but missed out on Which? Recommended Provider status due to low customer service ratings.

Eight providers earned the Which? Recommended Provider badge this year, including, Aldermore, Charter Savings Bank, Kent Reliance, Leeds Building Society, Marcus by Goldman Sachs, Skipton Building Society, Yorkshire Building Society and Zopa.

According to Which?, building societies and digital-only banks are offering the best combination of strong rates and good service, while the high street giants are falling short.

Note: Data based on 12 weeks of interest rates and customer survey results collected by Which? between June and August 2025. Interest rates accurate as of 30 October 2025.

The Express has reached out to the banks for comment.