Best Savings Account UK 2026: Top Picks Compared

Last updated: 10 June 2026

By Stiv · Design, technology and personal finance

Affiliate disclosure: This article contains affiliate or referral links. If you click through and sign up I may earn a commission or referral bonus at no extra cost to you. It does not affect my editorial view.

Finding the best savings account UK savers can open right now is harder than it sounds. Rates have settled after the highs of 2024, but with the Bank of England base rate sitting at 3.75% (held 30 April 2026; next decision 18 June 2026), there are still rewarding options out there if you know where to look. The trick is matching the right account type to how you actually save.

Below, we compare the top easy-access accounts, regular savers and fixed-rate bonds available in June 2026, highlight the referral bonuses that can sweeten the deal, and explain what to watch out for before you move your money.

Why your savings account choice matters more than ever

Research from LHV Bank found that around eight million UK savers are still earning 1% or less on their cash. Meanwhile, the top easy-access accounts are paying above 4%, and the best regular savers top 7%. That gap means hundreds of pounds a year left on the table for no good reason.

The good news is that switching is usually painless. Most of the accounts below can be opened in minutes from your phone, with no credit check required. Eligible deposits are protected up to £120,000 per eligible person per UK-authorised bank, building society or credit union by the FSCS (since 1 December 2025). Where deposits are held by a third-party bank, we name that bank in each section below.

Best easy-access savings accounts

Easy-access accounts let you withdraw whenever you need to. They are the best fit for emergency funds and short-term goals. Here are the standout picks for the best savings account UK savers can open right now without locking money away.

Chase Saver (Boosted Rate): 4.50% AER variable

Chase's boosted saver remains one of the strongest easy-access rates on the market. The 4.50% AER (variable) includes a fixed 2.25% AER boost for 12 months on top of the standard 2.25% AER variable rate, and it is available to new Chase current account customers who open a saver within the first 31 days of joining. There is no minimum deposit, and interest is paid monthly. After the boost period ends, the rate reverts to the standard variable rate, so it is worth reviewing your options at that point. (Source: Chase UK boosted rate page, verified 9 June 2026.)

Chase is the trading name of J.P. Morgan Europe Limited (FCA/PRA 124579). Eligible deposits are FSCS-protected up to £120,000 per eligible person. You can grab a referral bonus when you sign up through our Chase refer-a-friend page.

Chip Easy Access Saver: 5.01% AER variable (boosted, new customers)

Chip's Easy Access Saver currently offers new customers a boosted rate of 5.01% AER (variable tracker) for 6 months, which includes a 1.51% AER boost on top of the standard 3.50% AER. After 6 months, the rate reverts to the standard 3.50% AER (variable tracker, currently tracking at 0.30% below the Bank of England base rate). You are allowed 4 penalty-free withdrawals in a 12-month period; if you exceed 4 withdrawals, the rate drops by 2.10%. The boosted rate is for new customers using a valid promo code only. (Source: Chip Easy Access Saver page, verified 9 June 2026.)

Chip deposits (including the Easy Access Saver, Instant Access and Cash ISA) are held with ClearBank Limited (Chip Financial Ltd FCA 911255; deposits held with ClearBank Limited FCA 754568). Eligible deposits are FSCS-protected up to £120,000 per eligible person per bank; your combined Chip deposits with ClearBank count towards a single £120,000 limit. You can sign up with our Chip referral code for a bonus.

Tembo HomeSaver: 4.55% AER variable (plus conditional bonus)

Tembo's HomeSaver currently pays 4.55% AER (variable) as its base rate for new savers, which includes a 1.55% AER fixed 12-month introductory boost on top of the standard variable rate. In addition, a conditional 1.0% AER (fixed) HomeSaver bonus is earned over 12 months and paid out if you complete a qualifying mortgage through Tembo Money within 3 years, bringing the total headline rate to 5.55% AER. The HomeSaver is open to all UK residents aged 18+, but the conditional bonus requires using Tembo's mortgage service. No withdrawal limits apply. (Source: Tembo HomeSaver page, verified 9 June 2026.)

Deposits are held with a UK-regulated bank partner. Eligible deposits are FSCS-protected up to £120,000 per eligible person per bank. Tembo Savings Limited is authorised and regulated by the FCA (FRN: 928010).

Trading 212 Cash ISA: 3.60% AER variable (standard tracker)

Trading 212's Cash ISA pays a standard rate of 3.60% AER (variable tracker), set at 0.15% below the Bank of England base rate. This means the rate adjusts automatically whenever the base rate changes. Interest is earned daily and paid monthly. There are no withdrawal penalties, making it a genuinely flexible tax-free savings option. New customers registering via a promotional link may be eligible for a fixed bonus rate on top for a set period; check the Trading 212 app or promotional terms for the current offer. The annual ISA allowance is £20,000. (Source: Trading 212 Cash ISA tracker page, verified 9 June 2026.)

Interest earned inside a Cash ISA is completely tax-free. Trading 212 UK Limited is authorised and regulated by the FCA (FRN: 609146). Check current promotional rates directly with Trading 212 before opening.

What about Monzo?

Monzo is one of the UK's most popular banking apps, but its savings rates lag behind the best options listed above. Instant Access Savings Pots pay 2.75% AER (variable) on the free plan, rising to 3.25% AER if you pay for Monzo Perks (£7/month). Its Select Access Pots reach 3.65% AER with Perks, but require you to make two or fewer withdrawals per year. If you already bank with Monzo and value the budgeting tools, the convenience of keeping everything in one app has real value. But if you are chasing the best rate, moving savings into a dedicated account like Chase or Chip and keeping Monzo as your spending hub may suit you better. For a deeper look, our Monzo vs Chase comparison breaks it down. Monzo deposits are held with Monzo Bank Limited (FCA 730427), FSCS-protected up to £120,000 per eligible person.

Best regular saver accounts

Regular savers reward consistent monthly deposits with higher interest rates. The trade-off is a cap on how much you can put in each month, typically £150 to £300. They are useful for building a savings habit.

Zopa Biscuit Regular Saver: 7.10% AER variable

This is the headline act. Zopa's Biscuit current account unlocks a regular saver paying 7.10% AER (variable) for six months, with monthly deposits of up to £300. You can withdraw and replace funds within the same month without losing your rate, which is unusually flexible. Maxed out over six months, you could earn a meaningful amount in interest at this rate. On top of that, the Biscuit current account itself pays 2% AER on your balance and cashback on Direct Debits.

You will need to open the Biscuit current account first, which is free and takes about five minutes in the Zopa app. Eligible deposits are FSCS-protected up to £120,000 with Zopa Bank Limited (FCA 800542). The Zopa Biscuit refer-a-friend offer has ended and no referral bonus is currently running; check our Zopa Biscuit referral page for any current offer. (Source: Zopa regular saver page, verified 9 June 2026.)

First Direct Regular Saver: 7.00% AER fixed

First Direct pays a fixed 7.00% AER for 12 months on deposits of up to £300 per month. Unlike Zopa's variable rate, this one is locked in for the full term. The catch: you must deposit every month and cannot make any withdrawals during the year without losing the headline rate. It is available to First Direct current account holders. (Source: First Direct regular saver page, verified 9 June 2026.)

Best fixed-rate bonds

If you can lock money away for a set period, fixed bonds offer certainty. They will not budge if the base rate drops.

Union Bank of India (UK): 4.45% p.a. gross (nine months)

Union Bank of India (UK) currently offers 4.45% p.a. gross on nine-month fixed deposits, with a minimum deposit of £1,000 and a maximum of £1,000,000. This is available to individual customers online. Interest is calculated as simple interest. For one-year and two-year terms, the current rate is 4.76% p.a. gross. (Source: Union Bank of India (UK) interest rates page, verified 9 June 2026.) Union Bank of India (UK) Limited is authorised by the PRA and regulated by the FCA and PRA (FCA FRN: 601551). Eligible deposits are FSCS-protected.

Note on DF Capital: DF Capital's personal fixed-rate deposits (1-year and above) are currently available to existing eligible customers only, not to new retail applicants. Check dfcapital.bank for current availability.

Do you need a cash ISA?

Most UK savers benefit from the Personal Savings Allowance (PSA), which lets basic-rate taxpayers earn up to £1,000 in interest tax-free each year (£500 for higher-rate taxpayers). At current rates, you would need around £20,000 or more in savings before you start exceeding the PSA.

If your savings are approaching that level, a cash ISA shelters your interest from tax entirely. The annual ISA allowance is £20,000 for the 2026/27 tax year. Note that the government confirmed at the 2025 Autumn Budget that cash ISA contributions will be capped at £12,000 for under-65s from April 2027, so those who want to maximise the cash ISA limit may want to act before the rules change.

Tax treatment depends on the individual circumstances of each client and may be subject to change in future. If you receive interest from savings, dividends from investments or hold an ISA, your personal tax situation may be affected. This article is informational and does not constitute tax or financial advice. Consult a qualified adviser if you are unsure.

How to pick the best savings account for you

There is no single best savings account UK option that suits everyone. It depends on how you save. Here is a quick framework:

Emergency fund or flexible savings: the highest-paying easy-access accounts tend to suit emergency funds; Chase's boosted saver at 4.50% AER and Chip's Easy Access Saver at 5.01% AER (boosted, new customers) have been competitive here.

Building a habit with small monthly amounts: a regular saver like Zopa Biscuit at 7.10% or First Direct at 7% has offered higher rates for consistent small deposits.

Cash you will not touch for 6 to 12 months: fixed bonds from providers such as Union Bank of India (UK) have offered fixed rates for those comfortable locking money away.

Savings above your PSA threshold: move surplus cash into a competitive cash ISA like Trading 212's at 3.60% AER (variable tracker) to keep your returns tax-free. New-customer promotional rates may be available; check directly with Trading 212 for the current offer.

The approach that works for most people is to use a combination. Keep your emergency fund in an easy-access account, drip-feed into a regular saver for the best rate on monthly spare cash, and fix anything you can afford to lock away. Our Zopa Biscuit vs Chase comparison breaks down two of the most popular options side by side if you are torn between them.

Key things to watch

A few common pitfalls worth flagging before you commit:

Bonus rates expire. Many of the best headline rates include a temporary bonus (usually 6 to 12 months). Set a calendar reminder to review and switch if needed.

Shared banking licences. Some brands share a single FSCS licence. For example, HSBC and First Direct operate under the same licence, so the £120,000 protection covers your combined deposits across both. Similarly, multiple Chip savings products are held with ClearBank, so the £120,000 limit covers all your Chip to ClearBank deposits combined. Check the FSCS website if you are spreading money across providers.

Withdrawal limits. Accounts like Chip's Easy Access Saver penalise you for more than four withdrawals a year. Read the terms before you open.

Variable rates can drop. Unless you lock into a fixed bond, your rate can change at any time. Tracker rates (like Chip's and Trading 212's) move automatically with the base rate; others are changed at the provider's discretion.

This guide is for information only and does not constitute financial advice. Interest rates are correct at time of writing (9 June 2026) and may change without notice. Always verify current rates, terms and eligibility directly with the provider before making a decision. If you are unsure what is right for your circumstances, consider speaking to a qualified financial adviser. This article contains affiliate or referral links, as disclosed above; CoolCuration may earn a referral reward at no extra cost to you.

FAQs

What is the best savings account in the UK right now?

It depends on your needs. For new customers seeking easy access with a boosted rate, Chip's Easy Access Saver at 5.01% AER (6 months, new customers) and Chase's boosted saver at 4.50% AER (12 months) are among the strongest options. For regular savers, Zopa's Biscuit account offers 7.10% AER on up to £300 per month. The best savings account UK savers can open is the one that matches how they actually save.

Is my money safe in a savings account?

Yes, provided the account is with a UK-authorised bank or building society. Eligible deposits are protected up to £120,000 per eligible person per UK-authorised bank, building society or credit union by the FSCS (since 1 December 2025). Joint accounts are covered up to £240,000. Where deposits are held by a named third-party bank (such as ClearBank for Chip), the protection applies to that bank, not the app brand.

Do I pay tax on savings interest?

Most savers pay nothing thanks to the Personal Savings Allowance. Basic-rate taxpayers can earn up to £1,000 in interest tax-free per year, and higher-rate taxpayers up to £500. If you exceed this, a cash ISA shelters your interest entirely. The current annual ISA allowance is £20,000. This article does not constitute tax advice; consult a qualified adviser if you are unsure.

Should I use an easy-access account or a fixed bond?

Easy-access suits money you might need at short notice, like an emergency fund. Fixed bonds suit cash you can afford to lock away for 6 to 12 months or longer, in exchange for a fixed rate that will not change if the base rate drops.

Is Zopa Biscuit worth it just for the regular saver?

For many people, yes. The 7.10% regular saver is among the best available, and the Biscuit current account is free with no monthly fees. You also get 2% on your balance and cashback on Direct Debits. The only downside is that Zopa does not yet support the full Current Account Switch Service, so you would need to move Direct Debits manually.

What happens when a bonus rate expires?

Your rate typically drops to the provider's standard variable rate, which can be significantly lower. Set a reminder in your calendar for when the bonus period ends, then compare the market and switch if a better deal is available elsewhere.

What's trending

What Is Sprive, and How Does the App Work? (UK Guide 2026)

Veronica Ryan Whitechapel Gallery Review 2026 - Multiple Conversations

Exhale Coffee Review UK - Is It Worth the Hype?

Is Sprive Safe? UK Security, FCA Status and Your Money (2026)

FYTA Beam G2 Review UK: The Best Smart Plant Sensor We've Tried

Schiaparelli V&A Review: Fashion Becomes Art at the V&A London