The best UK savings rates this week

Last updated: 15 May 2025 at 12:50

One week after the base rate cut, leading fixed rates plummet as the top easy access rate inches higher.

After the Bank of England’s Monetary Policy Committee (MPC) lowered the base rate to 4.25% last week, it’s not surprising to see many lenders cut rates.

However, while the leading rates on fixed savings accounts have dropped significantly compared to one week ago, the top easy access rate has actually edged higher thanks to the Chip Easy Access Saver.

Because the leading easy access accounts currently pay more than fixed-rate accounts, some savers may be reluctant to lock their money away in exchange for a lower rate. Indeed, one quarter (24%) of respondents to a survey by Opinium for Hargreaves Lansdown in April 2025 said that fixing their savings wasn’t worth it for the rates available.

“This indicates that people may be focusing on the rates today and not considering the fact that those higher easy access rates are expected to fall in the coming months, which will reveal the huge value in fixed rates,” commented Sarah Coles, Head of Personal Finance at Hargreaves Lansdown.

“If it takes them a while to come to this realisation, the new fixed rate deals on offer will also have dropped,” she added.

As a result, if you don’t need to access your money for several months or years, it’s worth considering a fixed rate account so you receive a guaranteed return, rather than being at the mercy of any further drops in rates.

Below is a list of accounts that currently offer the best easy access, fixed and notice savings rates. These products are all available to new customers with a £10,000 deposit. Note that higher rates may be available to existing customers or those who are willing to save more than £10,000.

You can also visit our charts to compare rates from across the whole of the savings market.

Easy access accounts

Chip launched a new boosted promotional rate today, moving its Chip Easy Access Saver to the top of our easy access savings chart. Paying 4.77% AER monthly, this rate includes a 1.47% AER bonus for 12 months which savers can access by entering the promo code EASY12 within 14 days of downloading the Chip app. They will also need to deposit a minimum of £1 within 14 days of entering this code. This app-only account allows further deposits without restriction, but it’s important for savers to note that three or more withdrawals within a 12-month period will cause the rate to drop to 2.67% AER (with the boosted rate) or 1.20% AER (without the boost). Savers will need an open banking connection to a current account to open this savings account.

Sidekick moves down a position on our chart as it continues to offer 4.76% AER on its Sidekick High Yield Cash Reserve 5. It pays this rate daily on a minimum deposit of £5,000, but savers should note this includes a 0.72% AER bonus for 12 months (which is paid out each month) and a lower rate of 4.04% AER applies if the account balance exceeds £85,000. This account is only available via Sidekick’s mobile app, but it allows savers to add to and withdraw from their savings without any restrictions.

Another app-only provider, Atom Bank, pays a slightly lower rate of 4.75% AER monthly on its Instant Saver Reward. Savers don’t need to make a minimum deposit when opening this savings account and they can make deposits when they choose without any restrictions. However, while withdrawals are permitted, a lower rate of 2.50% AER will apply in any month that a saver takes money from their account. Note that all deposits and withdrawals must be made via a nominated account.

Fixed rate bonds

The leading rates on fixed bonds have fallen across the board this week after the latest cut to the base rate.

Consequently, FirstSave now finds itself at the top of our one-year fixed bond chart with its FirstSave 1 Year Fixed Rate Bond paying 4.50% AER monthly or on maturity. Savers can open this account online with a minimum deposit of £1,000 but should think carefully about the sum they put in the account as they can’t make any further contributions after this point. Once open, savers can manage their account online, by phone or by post.

After JN Bank cut rates, GB Bank’s 2 Year Fixed Rate Bond now pays the market-leading rate on two-year bonds at 4.43% AER. This account pays interest monthly or on anniversary and requires a deposit of at least £1,000 on opening. Savers can then make any additional deposits for 21 further days. While savers can only open this account online, they can choose to manage it online or via mobile app, depending on their preferences.

Birmingham Bank bucked the trend this week as it raised the rates on its longer-term bonds to lead our three- and five-year fixed bond charts. Its 3 Year Fixed Rate Bond - Issue 25 and 5 Year Fixed Rate Bond - Issue 20 both pay 4.43% AER on anniversary on a minimum opening deposit of £5,000. Available online, both accounts allow savers to add to their savings for 14 days after opening (via a nominated account).

Bear in mind that these fixed rate bonds don’t allow savers to withdraw any money from their savings before the end of the specified term.

Notice accounts

Continuing to lead our 30-day notice savings chart is the 30 Day Notice – Issue 27 from Charter Savings Bank that pays 4.60% AER monthly or on anniversary. This online-only account asks for an opening deposit of at least £5,000 and accepts further deposits without restriction (via a nominated account). Note that this account is only suitable for savers who are willing to wait 30 days before receiving any money they withdraw as earlier access to funds isn’t permitted.

For a longer notice period of 60 days, Kent Reliance’s 60 Day Notice Savings Account - Issue 63 offers a higher rate of 4.66% AER. Savers can open this account online or by visiting a branch with a minimum deposit of £1,000 and can choose to have interest paid monthly or yearly. They can continue to make further deposits into the account via cash, cheque or bank transfer, but should bear in mind that they can’t access their money before the end of the 60-day notice period. While savers can manage their account online, in branch or via phone, the withdrawal methods available to them will depend on how they opened their account.