Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be Scamsmart.

cash stack icon

UK Savings News

Daily news and analysis of the UK savings market. Locating the best savings and ISA rates. Exploring trends and new products. Brought to you by the Moneyfactscompare.co.uk editorial team. Subscribe to our email newsletter today for weekly updates.  

Advertisement

Latest savings news

news icon
The best UK cash ISA rates today
piggybank icon

Editorial Team

Moneyfactscompare
Published: 12/04/2024

Last updated: 12 April 2024 at 12:20

 

Final daily ISA roundup of this ISA season – OakNorth Bank takes the lead of our two-year chart.

 

In the final daily roundup of this ISA season, OakNorth Bank takes the lead of our two-year chart following a withdrawal from UBL UK, which sees the market-leading two-year fixed rate drop to 4.67% AER.

 

This provider now also jointly tops our three-year chart after increasing its 36-month Fixed Rate Cash ISA to pay 4.39% AER.

 

Read More
news icon
The best UK savings rates this week
Each week the Moneyfactscompare.co.uk content team round up and discuss the very best savings rates available in the UK. Compare and apply today.
Read More
news icon
Moneyfacts pick of the week
The Moneyfacts Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market.
Read More
news icon
NS&I’s British Savings Bonds launched at 4.15% AER
NS&I has launched its British Savings Bonds, offering a three-year fixed rate of 4.15% AER for savers. See how they compare against other savings accounts.
Read More
news icon
How you could earn 1% cashback on your ISA deposits in the 2024/25 tax-year
Furthermore, receive 5.20% interest daily on any uninvested cash with this stocks and shares ISA.
Read More
news icon
Bank of England base rate unchanged at 5.25% for fifth consecutive time

21st March 2024

High interest rates prove effective as inflation slows significantly.

High interest rates prove effective as inflation slows significantly.

Read More
news icon
February inflation at lowest level in over two years

20th March 2024

The rate of inflation slowed to 3.4% in February 2024, the lowest it’s been since September 2021. Find out what this means for your savings.

The rate of inflation slowed to 3.4% in February 2024, the lowest it’s been since September 2021.

Read More
news icon
Spring Budget 2024: A British ISA, new bonds from NS&I and further cuts to National Insurance

7th March 2024

The Chancellor of the Exchequer, Jeremy Hunt, delivered his Spring Budget to the House of Commons yesterday. It’s anticipated to be one of the Government’s last fiscal events before a General Election takes place in less than a year’s time. Find out what some of the measures announced mean for your finances.

Find out what some of the measures announced in the 2024 Spring Budget mean for your finances.

Read More
news icon
UK’s biggest banks fail to keep up with top savings rates

4th March 2024

The UK’s big high street banks are failing to offer competitive rates on their savings accounts, with other providers offering significantly higher returns.

The UK’s big high street banks are failing to offer competitive rates on their savings accounts.

Read More
news icon
One-year fixed bonds outperforming longer-term fixes

20th February 2024

As average fixed savings rates fall, one-year fixed bonds and ISAs have been outperforming longer-term deals.

As average fixed savings rates fall, one-year fixed bonds and ISAs have been outperforming longer-term deals.

Read More
news icon
Your Personal Savings Allowance explained: Why is it still important in 2024?

20th February 2024

With over 1.4 million people predicted to become higher-rate taxpayers by the end of the financial year, it’s crucial to understand your Personal Savings Allowance.

With over 1.4 million people predicted to become higher-rate taxpayers by the end of the tax year, it’s crucial to understand your Personal Savings Allowance.

Read More
news icon
Falling food prices see UK inflation unexpectedly hold at 4%

14th February 2024

The rate of UK inflation held at 4% in the year to January, revealed today’s release from the Office for National Statistics (ONS), following an unexpected uptick the previous month.

The rate of UK inflation held at 4% in the year to January, revealed today’s release from the Office for National Statistics (ONS).

Read More
news icon
Revealed: Winners of the Moneyfacts Consumer Awards 2024

8th February 2024

Financial professionals from across the industry gathered at the Royal Lancaster London to hear Tim Vine reveal the results.

Financial professionals from across the industry gathered at the Royal Lancaster London to hear Tim Vine reveal the results.

Read More

Popular savings news

news icon
Moneyfacts pick of the week

11th April 2024

The Moneyfacts Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market.

This week's selection includes a one-year bond paying 5.18% AER and an easy access ISA paying 5.00% AER.

Read More
news icon
Revealed: Winners of the Moneyfacts Consumer Awards 2024

8th February 2024

Financial professionals from across the industry gathered at the Royal Lancaster London to hear Tim Vine reveal the results.

Financial professionals from across the industry gathered at the Royal Lancaster London to hear Tim Vine reveal the results.

Read More
news icon
Premium Bonds prize fund rate will fall from March 2024

16th January 2024

Premium Bonds prize fund rate drops to 4.40% but the odds of winning remain the same.

Premium Bonds prize fund rate drops to 4.40% but the odds of winning remain the same.

Read More
news icon
2019 interest rates recap: the winners and losers

23rd December 2019

2019 has been a positive year for borrowers, but not for savers, with interest rates across the savings landscape plummeting due to economic uncertainties and a slowdown in competition. At the same time, consumers looking for a fixed rate mortgage will have seen a noticeable rate war unfold before them, which has pushed average rates to their lowest point now than in any other month in 2019.

2019 has been a positive year for borrowers, but not for savers, with interest rates across the savings landscape plummeting due to economic uncertainties

Read More
news icon
UK inflation drops to 3.9% in November

20th December 2023

UK inflation dropped to 3.9% in the year to November, according to today’s announcement from the Office for National Statistics (ONS). This is down from 4.6% the previous month.

UK inflation dropped to 3.9% in the year to November, according to today’s announcement from the Office for National Statistics (ONS).

Read More
news icon
What are the best performing ISA investment funds?

22nd August 2022

Global stock markets ended 2021 on a high, with the FTSE 100 finishing 14.3% up on the start of the year and the S&P 500 close to a 27% gain over the same timescale. Performance in 2022 will be dependent on many factors, including inflation, economic growth and the progress of the pandemic but also monetary policy and the potential for more interest rate increases.

Global stock markets ended 2021 on a high, with the FTSE 100 finishing 14.3% up on the start of the year.

Read More
news icon
NS&I makes market-leading fixed rate increases

30th August 2023

Its one year fixed rate bond now offers 6.20% AER, the best rate on the market.

Its one year fixed rate bond now offers 6.20% AER, the best rate on the market.

Read More
news icon
Santander’s new easy access account available until mid-September

4th September 2023

The account will sit alongside its Edge Saver, which offers a rate of 7% AER.

The account will sit alongside its Edge Saver, which offers a rate of 7% AER.

Read More
news icon
NatWest hikes regular savings account to 5%

20th September 2022

NatWest increased the rate on its regular savings account to 5% today, up from the 3.75% previously on offer. The Digital Regular Saver pays 5% gross (5.12% AER) on balances between a single pound and £1,000. If this is figure is exceeded, but below £5,000, then the provider will drop its rate to 0.50% AER. Any balances greater than £5,000 will revert to a 0.40% AER.

NatWest increased the rate on its regular savings account to 5% today, up from the 3.75% previously on offer.

Read More
news icon
Santander’s easy access account now paying 7.00% AER

15th August 2023

Santander increased the rate paid by its Santander Edge Saver (Issue 1) to 7.00% AER today, which includes a 2.50% AER bonus for the first 12 months.

Santander increased the rate paid by its Santander Edge Saver (Issue 1) to 7.00% AER today, which includes a 2.50% AER bonus for the first 12 months.

Read More
news icon
UK inflation sees unexpected rise in December 2023

17th January 2024

After months of falling inflation, December’s figure unexpectedly rose to 4%.

After months of falling inflation, December’s figure unexpectedly rose to 4%.

Read More
news icon
Average one and two year fixed bonds surpass 5% gross

13th July 2023

It is the first time these figures have exceeded this point since 2008.

It is the first time these figures have exceeded this point since 2008.

Read More
news icon
Loyalty costs savers, as banks questioned on rates

13th March 2023

Some of the UK’s biggest banks are still paying less than 1% on their easy access deals.

Some of the UK’s biggest banks are still paying less than 1% on their easy access deals.

Read More
news icon
Coventry BS relaunches easy access account at market-leading rate

14th July 2023

The account offers a rate of 4.50% AER but includes some withdrawal restrictions.

The account offers a rate of 4.50% AER but includes some withdrawal restrictions.

Read More
news icon
Coventry BS launch easy access at 4.00%

13th June 2023

The account only allows four penalty-free withdrawals per year.

The account only allows four penalty-free withdrawals per year.

Read More
news icon
Is the new SAGA easy access account a good or bad sign for savers?

4th October 2019

SAGA has launched a new easy access savings account paying 1.40% and, while the rate is competitive, there are multiple other providers paying the same if not higher rates for these types of accounts.

SAGA has launched a new easy access savings account paying 1.40% and, while the rate is competitive, there are multiple other providers paying the same if not

Read More
news icon
The best accounts to deposit £5,000 over six months

9th October 2019

Throughout 2019, the savings market has not been particularly good for savers and competition across much of the market has declined

Throughout 2019, the savings market has not been particularly good for savers and competition across much of the market has declined

Read More
news icon
NatWest increases saving account restrictions

31st October 2019

NatWest has made a number of changes to its savings accounts terms and conditions, which increase restrictions on the accounts and cut rate change notice periods

NatWest has made a number of changes to savings accounts terms & conditions, increasing restrictions on accounts and cut rate change notice periods.

Read More
news icon
Ford Money scoops commended for its online savings accounts at the Moneyfacts Consumer Awards 2021

27th April 2021

Ford Money was commended for the Online Savings Provider of the Year award at the Moneyfacts Consumer Awards 2021, held in January.

Ford Money was commended for the Online Savings Provider of the Year award at the Moneyfacts Consumer Awards 2021, held in January.

Read More
news icon
NS&I to increase Premium Bond prize fund to highest rate since 2007

4th July 2023

NS&I will be increasing its Premium Bond prize fund rate to 4% from the August draw – the highest it’s been since 2007.

NS&I will be increasing its Premium Bond prize fund rate to 4% from the August draw – the highest it’s been since 2007.

Read More
news icon
NS&I to increase Premium Bond rate to 24-year high

8th August 2023

The Government-backed institution is set to add £66 million to the prize fund each month.

The Government-backed institution is set to add £66 million to the prize fund each month.

Read More
news icon
Are premium bonds a good investment when inflation is rising?

6th October 2021

Premium bonds have long been a popular investment option for savers and, despite the economic uncertainty over the past 18 months

Premium bonds have long been a popular investment option for savers and, despite the economic uncertainty over the past 18 months

Read More
news icon
NS&I increases Premium Bond prize fund rate

20th June 2023

Premium Bondholders will have more chances to win prizes worth £50 to £100,000 after NS&I announced today it would be increasing its Premium Bond prize fund rate to 3.70%. According to NS&I, this is the highest the prize fund rate has been in 15 years and will mark the sixth time the rate has been increased in just over a year.

The increase will see the prize fund rate at the highest it’s been in 15 years.

Read More
news icon
HSBC and Nationwide BS among providers increasing rates: will your savings see a boost?

7th July 2023

The first week of the month brought a raft of changes as numerous banks and building societies either have or are set to refine their savings offerings. HSBC and Nationwide BS are two high street names which announced increases to selected rates this week.

The first week of the month brought a raft of changes as numerous banks and building societies either have or are set to refine their savings offerings.

Read More
news icon
Parents urged to act quickly to get the best children’s savings account rates

26th November 2019

Parents thinking about opening a children’s savings account are being urged to act quickly as rates on these accounts could start to fall

Parents thinking about opening a children’s savings account are being urged to act quickly

Read More
news icon
Investing ethically pays dividends for savers

27th July 2020

Ethical funds are consistently achieving better levels of growth than their non-ethical equivalents according to a study revealed by Moneyfacts today

Ethical funds are consistently achieving better levels of growth than their non-ethical equivalents according to a study revealed by Moneyfacts today

Read More
news icon
£300 billion of savings lies in accounts paying a rate of 0.1% or less

5th August 2022

Over £300 billion worth of savings is still sitting in accounts offering a rate of 0.1% or less, according to research released by Paragon Bank and CACI, a data company, yesterday.

Over £300 billion worth of savings is still sitting in accounts offering a rate of 0.1% or less, according to research released by Paragon Bank and CACI.

Read More
news icon
Easy access competition intensifies as Chip makes market-leading increase

21st February 2023

The latest uplift marks the provider’s second rate rise in ten days for its instant access account.

The latest uplift marks the provider’s second rate rise in ten days for its instant access account.

Read More
news icon
Inflation remains static as pressure builds on Bank of England to raise rates

21st June 2023

The rising price of airfares, second-hand cars, live music events, and computer games are reasons why the cost of living remains elevated.

The rising price of airfares, second-hand cars, live music events, and computer games are reasons why the cost of living remains elevated.

Read More
news icon
NS&I Increases Interest Rates by 15 Basis Points

10th February 2022

The state-owned savings bank increased the interest rates on its Direct Saver and Income Bonds to 0.50%. “The new interest rates will ensure that our products are priced in line with the broader savings sector. The increase will also help us to meet our annual Net net Financing financing target for 2021-22 of £6 billion, in a range of £3 billion to £9 billion,” said Ian Ackerley, Chief Executive for of the National Savings and Investments (NS&I). The interest paid on these accounts will now change from 0.35% gross annual equivalent rate (AER) to 0.50% gross AER with immediate effect. The previous increase to these products came in December, when rates increased from 0.15% gross AER to 0.35% AER.

The state-owned savings bank increased the interest rates on its Direct Saver and Income Bonds to 0.50%.

Read More
news icon
HSBC to raise easy access rate among other savings changes

2nd June 2023

Its Online Bonus Saver is set to pay 4.00% AER on balances of £10,000 or less.

Its Online Bonus Saver is set to pay 4.00% AER on balances of £10,000 or less.

Read More
news icon
Coventry Building Society launches top rate easy access savings account

4th October 2019

Coventry Building Society has launched an easy access savings account called the Triple Access Saver, which pays 1.46% yearly and sits at the top of the easy access charts.

Coventry Building Society has launched an easy access savings account called the Triple Access Saver, which pays 1.46% yearly and sits at the top of the easy ac

Read More
news icon
Savers urged to switch as high inflation persists

19th January 2022

Savers comparing deals have been urged to act swiftly to take advantage of top rates, with some changing since last month’s inflation announcement.

Savers urged to switch as high inflation persists

Read More
news icon
Cautious savers losing out on best returns

30th September 2021

Figures released by the Bank of England this week show consumers deposited almost double the amount in savings accounts during August compared to before the pandemic

Figures released by the Bank of England show consumers deposited almost double the amount in savings accounts during August compared to before the pandemic

Read More
news icon
NS&I set to increase saving rates

21st December 2021

National Savings & Investments (NS&I) has announced that it will be increasing the rates on its Direct ISA, Direct Saver and Income Bonds on 29 December

National Savings & Investments (NS&I) has announced that it will be increasing the rates on its Direct ISA, Direct Saver and Income Bonds on 29 December

Read More
news icon
Inflation continues to soar, cost of living only to worsen

23rd March 2022

The latest Consumer Price Index continues upward to 6.2%, adding to fears over the increased cost of living. The latest Consumer Price Index (CPI) was recorded at 6.2% this morning. This means inflation has hit a new 30 year high, which will only exacerbate the cost of living. “This is the highest CPI 12-month inflation rate in the National Statistic series which began in January 1997, and the highest rate in the historic modelled series since March 1992, when it stood at 7.1%,” the Office for National Statistics (ONS) stated. The rise can be attributed to a number of diverse contributions. This included a bump in prices for clothing, footwear, toys and other recreational goods, said the ONS.

The latest Consumer Price Index continues upward to 6.2%, adding to fears over the increased cost of living.

Read More
news icon
UK credit card borrowing at record high amid surging inflation

30th March 2022

Consumers borrowed an additional £1.9 billion in February, of which nearly 80% was used on credit cards. UK consumers took on an additional £1.5 billion in credit card borrowing in February, taking the total credit card amount borrowed to £59.5 billion. According to the Bank of England (BOE), this is the highest since records began in 1993.

Consumers borrowed an additional £1.9 billion in February, of which nearly 80% was used on credit cards.

Read More
news icon
Six-month personal finance review – winners and losers

9th July 2019

Finance expert at Moneyfactscompare.co.uk, Rachel Springall, takes a look at the first six months of 2019 to find out if consumers are better or worse off than if they had taken out a deal in January.

Who are the mortgage, savers and credit card winners and losers in the first six months of 2019?

Read More
news icon
HSBC to more than double its easy access rate

11th July 2022

High street bank HSBC will more than double the rate on its Online Bonus Saver next Tuesday, taking its rate for balances of £10,000 or under to 1.30%. Currently, the Online Bonus Saver pays a monthly rate of 0.45% for balances of £10,000 or less. Anything greater and this rate falls to 0.40%.

High street bank HSBC will more than double the rate on its Online Bonus Saver next Tuesday, taking its rate for balances of £10,000 or under to 1.30%.

Read More
news icon
Top easy access rates stretch the competition

2nd May 2023

The top three easy access rates have all increased over the past 14 days.

The top three easy access rates have all increased over the past 14 days.

Read More

Discover the best savings rates today

Receive the latest news, straight to your inbox

All of our newsletters are available free by email to all Moneyfactscompare.co.uk users.

Send me Weekend Moneyfactscompare, Savers Friend, Companies Friend and selected third-party offers.

Cookies

Moneyfactscompare.co.uk will, like most other websites, place cookies onto your device. This includes tracking cookies.

I accept. Read our Cookie Policy

Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.

Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.