No instant-access accounts can beat inflation, meaning savers have to be prepared to lock their money away to protect it from losing value in real terms.
Now that inflation has reached 1.8% – its highest level for two-and-a-half years – a limited number of savings accounts on the market pay enough to match or beat it.
To get a savings account that pays enough to beat this, you’ll now need to lock up your money for at least a year.
Here, we highlight some of the best available savings deals. We’ve also included links to the Which? Money Compare tables where you can learn more about each account.
We’ve excluded accounts with certain qualifying conditions or bonus rates, and those that require a minimum balance of more than £5,000.
Which? Money Compare table: savings accounts and Isas – our tables are updated daily
Savings account deals
Instant-access savings accounts
The best instant-access savings rate in our tables is 1.1% AER, offered by RCI Bank. This provider is not covered under the Financial Services Compensation Scheme, although up to €100,000 of your savings is protected by the French equivalent.
Leeds Building Society, Paragon Bank and West Bromwich Building Society offer the next best rates in our table, all paying 1.05% AER.
One-year fixed-rate savings accounts
If you’re willing to tie up your savings for a year, the best rate in our tables is 2% AER, offered by Atom Bank.
Secure Trust Bank offers the next best rate in our table, at 1.61% AER.
Two-year fixed-rate savings accounts
Atom Bank also offers the best two-year fixed-rate savings account in our tables, paying 2.1% AER.
Oaknorth Bank offers the next best rate in our table, at 1.66% AER.
Three-year fixed-rate savings accounts
Atom Bank offers a market-leading 2.2% AER on its three-year fixed-rate account. Click to find out more about this three-year bond.
Secure Trust Bank offers the next best rate in our table, at 2% AER.
Four-year fixed-rate savings accounts
Vanquis Bank offers the best rate in our four-year fixed-rate savings account table, paying 2.1% AER.
Charter Savings Bank offers the next best rate in our table, at 2.06% AER.
Five-year fixed-rate savings accounts
The best rate on a five-year savings account available in our tables is 2.4% AER, offered by Atom Bank. Click the link to learn more about the Atom Bank 5 Year Saver.
Vanquis Bank offers the next best rate in our table, at 2.21% AER.
Which? Money Compare table: fixed-rate savings accounts – compare hundreds of fixed-rate deals
Which? Limited is an Introducer Appointed Representative of Which? Financial Services Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 527029). Which? Mortgage Advisers and Which? Money Compare are trading names of Which? Financial Services Limited.