This week's top savings deals explained

Last updated: 14 May 2026 at 14:10

Latest savings news: NS&I announced it’s raising rates, but are better returns available elsewhere?

While National Savings & Investments (NS&I) announced it will be increasing its Premium Bond prize fund rate and giving holders even more opportunity to win, savers could be forgoing a better return elsewhere for their chance at a jackpot.

From July 2026, the prize fund rate is set to rise to 3.80% - meaning that for every £1,000 of Premium Bonds purchased, NS&I will pay out £38 in prizes (on average). At the same time, the odds of winning are being shortened to 22,000 to one (from 23,000 to one currently).

However, despite being 100% backed by HM Treasury and offering the chance to win prizes worth up to £1 million each month, Premium Bonds may not be the savviest choice for some savers. “The main drawback to Premium Bonds is that they don’t pay interest, so your deposit erodes in real terms due to inflation, and winning is all about luck,” said Rachel Springall, Finance Expert at Moneyfactscompare.co.uk.

Related article: NS&I boosts Premium Bond prize pot by over £60 million

NS&I also revealed it’s today increasing its Direct Saver and Income Bonds to each offer 3.45% AER, however, Springall said “it is worth noting that the top rates on the market are over 4% on easy access accounts, with some top fixed bonds paying well over 4.50%”. She added that “interest rates on savings accounts have been increasing, so now is an ideal time to check the latest deals on the market and review any old pots”.

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

Tembo Money’s HomeSaver tops our easy access savings chart this week – continuing to pay 4.75% AER monthly (inclusive of 1.75% bonus for 12 months). A £10 minimum deposit is needed to open and manage this account via mobile app, after which it allows further additions and unlimited penalty-free withdrawals using a nominated account. Savers should also note they could earn an even higher rate if they take out a qualifying mortgage through Tembo Money (T&Cs apply; see our chart for further details).

Alternatively, the Chase Saver With Boosted Rate still offers a highly competitive 4.50% AER monthly (inclusive of a 2.23% 12-month bonus available in the first 31 days of being a new Chase current account customer). There’s no minimum deposit required to open and manage this account via mobile app. While it accepts further contributions without restriction, bear in mind there’s a £25,000 daily limit on external transfers.

Meanwhile, those who’d prefer a headline rate that isn’t bolstered by an introductory bonus could consider the Dual Access Saver from Hanley Economic BS which currently sits in third place on our chart. This account pays a flat rate of 4.27% AER yearly after opening in branch with a £100 minimum deposit – after which it can additionally be managed by post and accepts further deposits without restriction. However, it may not be best suited to savers who often dip into their pot as it only allows two penalty-free withdrawals per tax-year before any further access is subject to 60 days’ loss of interest.

Fixed rate bonds

Recent rate hikes from Kent Reliance see the provider take a top spot on our one-year bond chart and remain in first place on our two-year bond chart this week. Its 1 Year Fixed Rate Bond – Issue 31 and 2 Year Fixed Rate Bond – Issue 39 each now pay 4.71% AER monthly or on anniversary once opened online with a £1,000 minimum deposit. These accounts can be managed using the same means and accept contributions for a further 14 days via a nominated account. However, early access is prohibited – as is the case with most fixed bonds.

It shares the lead of our one-year chart with MBNA’s Fixed Saver 1 Year which also offers a recently-improved 4.71% AER at maturity. After opening online with an initial investment of at least £1,000, this account can only be managed over the phone and permits further deposits for 14 days via a nominated account.

Otherwise, savers who want to secure a guaranteed return for longer will find Chetwood Bank currently offers the best three- and five-year fixed savings rates after raising its 3 and 5 Year Fixed Rate Savings Accounts to pay 4.73% AER and 4.75% AER, on anniversary, respectively. Both options are available online with a £1,000 minimum deposit and accept further additions for 14 days from opening.  

Notice accounts

While the top returns on notice accounts can’t compete with the best easy access savings rates, they may nonetheless appeal to those who want to reduce the temptation to dip into their pot.

RCI Bank UK’s RCI Bank E-Volve Savings 14 Day Notice Account currently offers the most competitive rate for an account that requires up to 30 days’ notice before making a withdrawal at 4.00% AER. Interest can be paid either monthly or on anniversary after opening this account online with a £100 minimum deposit. It can additionally be managed via mobile app but stipulates that any transactions must take place using a nominated account. Further additions are permitted without restriction, but early access is prohibited (which means savers must serve the full 14-day notice period before getting hands on their cash).

However, those willing to wait longer when making a withdrawal will find higher rates are available. Shawbrook Bank’s 45 Day Notice Account Issue 22 and Raisin UK – 45 Day Notice Account, for instance, continue to offer 4.16% AER on a £1,000 minimum deposit and share the lead of our up to 60-day notice chart. The former pays interest monthly or on anniversary after opening online and can additionally be managed over the phone. It accepts further contributions while the issue remains open but doesn’t allow savers to make withdrawals without giving 45 days’ notice. Meanwhile, the latter is available via the Raisin UK savings platform either online or by mobile app but doesn’t allow any further additions. It similarly prohibits early access and doesn’t permit partial withdrawals (which means savers can only withdraw the full account balance after serving 45 days’ notice).

Alternatively, Oxbury Bank’s Personal 35 Day Notice Account (Issue 7) also pays 4.16% AER monthly but comes with a shorter notice period of 35 days for withdrawals. Elsewhere, the provider’s Personal 90 Day Notice Account (Issue 14) continues to lead our up to 90-day notice chart at 4.18% AER. Both accounts ask for a £1,000 minimum deposit to open online (although the Oxbury App is needed to use online banking). They can additionally be managed via the app and accept further contributions using a nominated account. Neither grant early access.