Which? Money provides its weekly look at the best savings deals currently available to help you deposit your cash in the right account.
The best cash Isas on the market
- Instant access cash Isa: The Post Office offers the best instant-access cash Isa deal, paying 3.01% on initial balances of at least £100. This account includes a bonus of 1.26% payable for 18-months. Market Harborough BS and M&S Bank follow closely at 3.00%. The Isa from M&S Bank stands out as it comes without a bonus period – so is worth considering if you want to avoid worry about the rate dropping off.
- Notice cash Isa: Notice cash Isa accounts used to pay a higher rate for locking up your money, but don’t tend to anymore. Coventry BS’s 60 Day Notice Isa does pay an attractive rate of 3.25%, but you’ll need to give 60 days notice to get at your cash. This account does not allow transfers in from other providers.
- One-year fixed-rate cash Isa: M&S Bank offers the top one-year fixed-rate cash Isa account at 3.10% and all allow transfers in from other providers. The Isas from Governor Money, Saga and Virgin Money also pay competitive rates at 3.00%.
- Two-year fixed-rate cash Isa: Santander leads with its Isa paying 3.30%. The two-year fixed-rate cash Isa deal from the M&S Bank also offers an attractive rate at 3.25% if you’re happy to tie your money up for two years.
- Three-year fixed-rate cash Isa: The Halifax, M&S Bank and Virgin Money top the three-year fixed rate cash Isa table at 3.50%. Saga follows with its account paying a rate of 3.30%.
- Four-year fixed-rate cash Isa: The Halifax Fixed Rate Isa Saver offers the top four-year fixed-rate cash Isa deal paying 3.55% from initial balances of £500.
- Five-year fixed-rate cash Isa: The Halifax is top with its five-year fixed rate Isa paying 3.60%. BM Savings and Julian Hodge Bank follow with a rate of 3.50%.
The best savings accounts
- Instant access savings: The AA tops the best instant-access savings table at 2.80% on balances from just £1. This account is operated via the internet only and includes a variable rate bonus payable for a year.
- Notice savings: Traditionally, notice savings accounts paid higher rates than instant access accounts in return for tying your money up but this is not always the case. United Bank UK’s 90 Day Notice account is best at 3.12% on balances from £2,000.
- One-year fixed rate savings: M&S Bank offers the top-paying one-year fixed-rate savings deal at 3.10%. United Bank UK also offers a decent rate at 3.05% from initial balances of £2,000.
- Two-year fixed rate savings: M&S Bank also offers the top-paying two-year fixed-rate savings account at 3.25%. BM Savings and United Bank UK follow closely behind with their deals paying 3.15%.
- Three-year fixed rate savings: M&S Bank and Virgin Money are top in the three-year fixed-rate savings account table with a rate of 3.50%. However, Bank of Scotland are hot on its heels at 3.40%.
- Four-year fixed rate savings: Shawbrook Bank offers the best four-year fixed-rate savings accounts at 3.75% from initial deposits of £1,000.
- Five-year fixed rate savings: Vanquis Bank currently tops our five-year fixed-rate savings table, paying 3.71%.
And finally… boost your savings
To find out if your savings account is paying a competitive interest rate, check out the Which? Savings Rate Booster tool and switch your account for a better deal if necessary.
- Non-internet savings accounts – for the best rate non-internet accounts
- Are my savings safe? – the Which? guide to savings protection
- Regular savings accounts – for the best rate monthly savings accounts