The best UK savings rates this week

Last updated: 7 August 2025 at 15:00

Savers may be running out of time to secure top returns as base rate is cut yet again.

Top savings rates have been twitchy over the past week likely due to today’s base rate announcement, with many providers anticipating a cut to the UK’s central interest rate.

Indeed, in line with expectations, the Bank of England’s Monetary Policy Committee (MPC) voted in favour of lowering the base rate to 4.00%, marking the third cut this year and the lowest it’s been since March 2023.

Although providers may have already lowered returns in the lead-up to the announcement, it’s possible that rates could now fall further, with such cuts usually affecting variable returns first before seeping into the fixed bond market later on.

As Rachel Springall, Finance Expert at Moneyfactscompare.co.uk, points out: “It is essential that savers do not wait around for too long to snap up the top rates on the market, particularly if they use their pots to supplement their monthly income.”

With this in mind, while the leading one-year bond dipped to 4.50% AER this week, top five-year returns inched higher to 4.52% AER. What’s more, thanks to an increase from the Chip Instant Access Account, the best easy access rate jumped up to 5.10% AER.

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

Having increased its Chip Instant Access Account, Chip surges to the top of our easy access chart this week. It now pays 5.10% AER monthly from as little as £1, though keep in mind this rate includes an additional 2.10% AER that expires in three months, bringing returns down to 3.00% AER. You’ll be able to open and manage this option via app, however, an open banking connection to a current account is required in order to apply.

This increase now sees Chase offering the second highest returns at 5.00% AER monthly on its Chase Saver With Boosted Rate. Similarly, a 2.25% AER bonus is included, in this case for an initial 12 months, and the account is available via app without needing a minimum deposit. It’s worth noting that while further additions are accepted without restriction, withdrawals are limited to a £25,000 daily external transfer limit.

Elsewhere, Oxbury Bank amended its easy access offering, leaving Atom Bank paying the next best rate. Its app-based Instant Saver Reward offers 4.60% AER monthly and can be opened without a minimum investment. Be aware that transfers in or out require a nominated account, and that returns drop to 2.50% AER should a withdrawal be made in the month.

Fixed rate bonds

Savers after a one-year bond will find top returns slipping to 4.50% AER this week following a reduction from Castle Community Bank. Nevertheless, LHV Bank’s 1 Year Fixed Rate Bond pays these returns on maturity from a £1,000 initial investment and can be opened and managed via mobile app. As is typical for fixed rate bonds, neither additional contributions nor early access is permitted.

GB Bank, on the other hand, holds onto its leading spots across both our two- and three-year fixed bond charts again, paying 4.46% AER on maturity on its Prosper - 2 Year Fixed Term Deposit as well as its Prosper - 3 Year Fixed Term Deposit. Savers with a considerable minimum deposit of £10,000 can open these app-exclusive accounts through the Prosper Savings platform, though should keep in mind that this balance cannot be later added to or withdrawn from early.

The five-year sector saw more promising changes this week, as an increase from JN Bank saw the provider take the top position on our chart. Its Fixed Term Savings Account now pays 4.52% AER on anniversary to those with a £100 deposit and can be opened online; it can additionally be managed by phone. Unlike other bonds mentioned, savers can continue adding to their balance for an extra 14 days after opening, with the provider allowing up to 11 payments to be made after initial funding.

Notice accounts

Some changes persist among the top notice accounts this week, however, the leading rate in the up to 30 days’ bracket remains unchanged at 4.30% and continues to be paid by RCI Bank UK. From £100, its RCI Bank E-Volve Savings 14 Day Notice Account pays this rate either monthly or on anniversary from just a 14-day notice period, requiring a nominated account to both make further deposits and to withdraw funds. It can be opened online and managed via the same means as well as by app.

Conversely, changes on our up to 60-day chart sees Kent Reliance return to a market-leading position; it pays 4.45% AER monthly or yearly on its 60 Day Notice Savings Account - Issue 65 which is available either online or in branch. It allows savers to add to its £1,000 minimum deposit either via cash in branch, using a cheque or through a bank transfer, however, savers should be mindful of how they first open this account, as this dictates the method in which withdrawals can be made.

Otherwise, those giving up to 90 days’ notice can still find a leading 4.52% AER daily from GB Bank’s Prosper - 65 Day Notice Account 2. Available entirely via app, this account needs a minimum of £10,000 to open, and savers must use the Prosper savings platform to apply. Meanwhile, 65 days’ notice is required before being granted access to your money, while further additions can be made freely.