Savers squirrelled away billions of pounds ahead of the Budget and amid economic uncertainty. The latest available figures from the Bank of England show households deposited an extra £5.5billion in low-interest, instant access savings accounts that month.
A further £4.2billion was deposited into ISAs and £0.3billion into fixed-term accounts with fixed rates, according to October’s Money and Credit report compiled by the BoE, which is due to announce its next interest rate move on December 18. With the Bank’s rate-setting monetary policy committee expected by some to cut base rate from its current 4.00%, savers may want to consider taking advantage of the best savings rates currently on offer.
Inflation dropping to 3.6% in October has also fuelled expectations among some that the Bank will lower rates – in what would be a boost to some borrowers, but a potential blow to savers.
Rachel Springall, a finance expert at Moneyfactscompare.co.uk has said savers who use a current account by default could be missing out on returns from a savings accout capable of beating inflation.
She said shopping around is “vital” as those who open an easy access account with their bank could be earning a “paltry” rate.
Below is a list of the savings accounts offering the highest interest rates at the time of writing, according to Moneyfacts data.
Here are the top 10 easy-access savings accounts this week:
- Monument easy access savings boosted rate – 4.51% AER
- Chase saver with boosted rate – 4.50% AER
- Sidekick multi shield – 4.48% AER
- Cahoot simple saver (issue 13) – 4.40%
- Chip easy access saver – 4.37%
- Chip instant access account – 4.35%
- Shawbrook Bank bonus easy access savings account (issue 3) – 4.34%
- Tipton & Coseley Building Society triple access saver (mobile app account) – 4.30%
- Dudley Building Society 2 access bonus saver – 4.25%
- LHV Bank, easy access – 4.25%
Here are the top 10 regular savings accounts this week:
- Principality Building Society 6 month regular saver (issue 4) – 7.50%
- Zopa regular saver – 7.10%
- First Direct regular saver account – 7.00%
- Progressive Building Society online regular rainy day saver account (issue 4) – 7.00%
- The Co-operative Bank regular saver (issue 1) – 7.00%
- Hanley Economic Building Society 1 year branch smart saver – 6.50%
- Manchester Building Society festive regular saver (issue 1) – 6.50%
- Nationwide Building Society flex regular saver (issue 7) – 6.50%
- Newcastle Building Society festive regular saver – 6.50%
- Principality Building Society Christmas 2026 regular saver – 6.50%
Here are the top three savings accounts with a one, two and three-year fixed rate this week.
One-year fixes:
- Al Rayan Bank – 4.55%
- Investec Save – 4.50%
- LHV Bank – 4.46%
Two-year fixes:
- Secure Trust Bank – 4.42%
- DF Capital – 4.41%
- Vanquis Bank – 4.38%
Three-year fixes:
- Kent Reliance – 4.26%
- FirstSave – 4.25%
- JN Bank UK – 4.25%
Here are the top 10 easy access cash ISAs this week:
- Trading 212 – 4.52%
- Plum – 4.49%
- Teachers Building Society single access cash ISA for teachers – 4.35%
- Teachers Building Society single access cash ISA for everyone – 4.30%
- Atom Bank – 4.25%
- Vanquis Bank – 4.25%
- Principality Building Society – 4.20%
- Teachers Building Society double access cash ISA for teachers – 4.20%
- Charter Savings Bank – 4.16%
- Aldermore – 4.15%
Here are the top 10 Cash ISAs with a one-year fixed rate this week:
- Investec Save – 4.30%
- Tembo Money – 4.30%
- UBL UK – 4.28%
- Vanquis Bank – 4.25%
- Charter Savings Bank – 4.24%
- Zopa – 4.22%
- Gatehouse Bank – 4.21%
- NatWest – 4.20%
- Royal Bank of Scotland – 4.20%
- Kent Reliance – 4.16%