The best UK savings rates this week

Last updated: 5 June 2025 at 11:10

Slight uplift in top one-year fixed returns this week, as billions of pounds revealed to be sitting in non-interest earning current accounts.

A concerning number of consumers could be missing out on significant returns on their money, after 8.3 million current accounts were found to contain upwards of £10,000, 80% of which were discovered to be earning no interest whatsoever.

According to a joint analysis of CACI data from Paragon Bank and its new savings app Spring, it’s also estimated these accounts hold a combined total of £284 billion, resulting in an average account balance of £33,961. This research also revealed that these accounts contributed to an overall 74 million current accounts in credit across the UK that earn zero interest for their holders.

“Most people sensibly maintain a small current account balance to cover emergency costs and everyday expenses, but leaving thousands of pounds in your current account means you will be missing out on hundreds of pounds in interest each year,” explained Derek Sprawling, Managing Director of Savings at Spring.

While there are some interest-paying current accounts available on the market, these rates are typically subject to conditions, with higher returns usually found with more traditional savings options. It’s therefore worth reviewing your accounts to ensure you’re seeing the best returns on your money.

With this in mind, savers may be relieved to see top easy access returns holding steady after falling last week, while the leading one-year rate climbs higher to 4.45% AER to match its three- and five-year counterparts.

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

Atom Bank manages to hold onto its leading position on our easy access chart this week with its Instant Saver Reward continuing to pay 4.75% AER monthly. Keep in mind these returns drop to 2.50% AER should a withdrawal be made in the month, before returning to the reward rate the following month. Operating exclusively by app, this option can be opened without a minimum deposit, though note access in and out must be via a nominated account.

Meanwhile, a withdrawal from West Brom BS leaves fellow app-based provider Snoop offering the next highest returns. Its Snoop Easy Access Savings Account 1 offers 4.60% AER daily to savers with a £1 deposit and permits both further additions and withdrawals without restriction. It’s worth noting that Snoop shares its banking licence with Vanquis Bank, which could affect your coverage under the Financial Services Compensation Scheme (FSCS) if you have accounts with both providers.

This reshuffle on our chart now sees Chip now take a more competitive spot with its Chip Instant Access Account. It pays 4.56% AER monthly from a £1 investment, inclusive of a 1.32% AER bonus for the first 12 months; however, this must be applied manually within 14 days of downloading the Chip mobile app using promo code INSTANTACCESS. This same app is also required to both open and manage this option, as is an opening banking connection to a current account. Otherwise, you’ll be able to add to your initial balance and make withdrawals without penalty.

Fixed rate bonds

Top one-year fixed returns climb a little higher to 4.45% AER this week after LHV Bank increased selected products in its range. This rate is offered on maturity on its 1 Year Fixed Rate Bond, which can be opened and managed via app from a £1,000 minimum investment. As is the case for many fixed rate bonds, you won’t be able to add to the account after initial funding, or make withdrawals before the end of the term, so make sure to consider deposits carefully.

Despite jointly leading the three- and five-year sectors once again, Birmingham Bank now also tops our two-year fixed chart following a withdrawal from Hampshire Trust Bank. The former’s 2 Year Fixed Rate Bond - Issue 19 pays 4.43% AER while its 3 Year Fixed Rate Bond - Issue 26 and 5 Year Fixed Rate Bond - Issue 21 each offer 4.45% AER. These online accounts all pay these rates on anniversary from £5,000 deposits, which can be added to for a further 14 days after opening via a nominated account. Conversely, early access is prohibited for all three options.

Alternatively, JN Bank also offers market-leading three- and five-year returns after it made a series of increases earlier this week. Its Fixed Term Savings Accounts both pay 4.45% AER on anniversary, though they can be opened online from a smaller £100; they can additionally be managed by phone. Similarly, you can add to these accounts for a limited time, in this case for 14 days after opening through a maximum of 11 payments, while early access is again not permitted.

Notice accounts

For those considering a notice account, Charter Savings Bank extends its tenure at the top of the 30-day bracket, with its online 30 Day Notice - Issue 28 paying 4.40% AER either monthly or on anniversary. Its £5,000 minimum deposit can be added to using a nominated account for as long as the current issue remains open, however, you must serve the full 30 days’ notice period in order to access funds.

A reduction from Monument Bank sees Kent Reliance’s 60 Day Notice Savings Account - Issue 64 return to the top of our up to 60 days’ chart. Savers with a £1,000 minimum investment can receive its 4.52% AER either monthly or yearly, with the account able to be opened online or in branch; it can then be managed via the same means as well as by phone. Bear in mind, that while you can add to your initial balance, it must be either via cash deposited in branch, by cheque or through a bank transfer. Also note that withdrawals are dependent on the method in which the account was originally opened and are subject to serving the full 60 days’ notice.

Finally, a higher 4.64% AER monthly is available from Investec Bank plc’s 90-Day Notice Saver Issue 4 for savers willing to give up to 90 days’ notice. Requiring £5,000 to open online, the account can be managed the same way and, while not prohibiting early access, it allows additional contributions at any time.