This week's top savings deals explained

Last updated: 18 June 2026 at 13:05

Latest savings news: This week sees hikes to some of the top fixed bond rates as inflation and base rate hold – but are further improvements on the horizon?

The annual rate of UK inflation held steady at 2.8% in May, despite expectations for an increase. And, positively, savings rates have been on the rise in recent months, with Caitlyn Eastell, Personal Finance Analyst at Moneyfactscompare.co.uk, highlighting that rates “may not have peaked yet”.

Although inflation hasn’t increased for now, it might later this year, which could mean a base rate hike is on the cards. However, today (18 June) it was announced it would remain at 3.75% after the Bank of England’s Monetary Policy Committee (MPC) voted 7-2 in favour of maintaining the base rate.

If we do have a base rate hike, we could see more attractive headline rates, as providers will need to compete for deposits, Eastell pointed out. While this may seem like a win, she went on to warn that “stubborn inflation means savers’ cash can still be losing power even when their balance ticks up on paper”.

Read more: UK inflation sticks at 2.8% in May despite rise in transport costs

This is why it’s important savers shop the market for attractive returns to combat any effect a potentially dwindling purchasing power could have on their pots. And, this week has seen an improvement to the best returns on a two-, three- and five-year bond – with the highest fixed rate hitting 4.90% 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

This week, the LemFi Instant Access Savings Account (operated by ClearBank) jointly tops our easy access savings chart, continuing to pay 5.00% AER monthly (inclusive of a 1.89% bonus for six months). LemFi’s app-only account can be opened with a small minimum deposit of £1, after which savers can add to their pots without restriction. However, withdrawals must be made via a nominated account, and it should be noted that limits may apply.

Also offering 5.00% AER is Revolut’s Instant Access Savings – Standard (also operated by ClearBank). This headline rate includes a larger 2.02% bonus until 4 December 2026, paid daily on balances up to £25,000. However, balances above £25,000 receive a much lower rate of 2.90% AER. No minimum deposit is stated for opening this account via app, but savers should be aware that it’s only available to new Revolut customers who already have or open an e-money/payment account. After this, savers can make further additions without restriction and have penalty-free access to their cash. The provider’s Instant Access Savings – Plus, Premium, Metal and Ultra additionally offer 5.00% AER, but to open savers need to have a linked current account which charges a monthly fee. Find out more information on our chart.

Coming in second this week is Tembo Money’s HomeSaver, still paying a competitive 4.55% AER monthly (inclusive of a 1.55% 12-month bonus). This account, which is also available by mobile app, can be opened with a deposit of £10 or more and allows savers unlimited, penalty-free access to their money via a nominated account. A higher rate of 5.55% AER is available on Tembo Money’s HomeSaver, but only to those who take out a qualifying mortgage with the provider. Ts&Cs apply (see our chart for further details).

Following close behind is Chase with its Chase Saver With Boosted Rate. This app-only account pays 4.50% AER monthly, which includes a hefty 2.23% bonus for 12 months. No minimum deposit is specified to open the account, but it is only available in the first 31 days of being a new Chase current account customer. While further additions can be made without restriction, a daily external transfer limit of £25,000 applies on withdrawals.

Fixed rate bonds

Maintaining its leading position in the one-year bond sector is MBNA, paying 4.85% AER on its Fixed Saver 1 Year. Interest is paid on maturity. To open this account online, savers must deposit £1,000 or more, after which further additions can be made for 14 more days via a nominated account. Once funded, management must be carried out over the phone. As is typical for fixed bonds, early access isn’t allowed.

The top two-, three- and five-year fixed bond rates have all increased this week thanks to hikes made by Afin Bank. The provider’s 2-Year Fixed Term Account (Issue 7) and 3-Year Fixed Term Account (Issue 2) pay 4.85% AER on anniversary, while its 5-Year Fixed Term Account (Issue 10) offers 4.90% AER. Available via app with a £1,000 minimum opening deposit, these bonds accept further contributions for 14 more days via a nominated account. After initial funding, there’s the extra option for management over the phone.

Notice accounts

RCI Bank UK’s RCI Bank E-Volve Savings 14 Day Notice Account continues to offer the best rate on an up to 30-day notice account this week, paying 4.00% AER monthly or on anniversary. Accessible online with an opening deposit of £100 or more, savers will have the added option to manage the account via app afterwards. Further additions and withdrawals must be made via a nominated account, and as early access isn’t allowed, savers will need to wait 14 days before accessing their withdrawn funds. What’s more, it may particularly appeal to eco-conscious savers as RCI Bank UK uses all deposits to finance electric vehicles, charging points and future green transportation projects.

Those willing to wait a little longer will find that Oxbury Bank is one provider which offers a higher 4.16% AER for a 35-day notice period. Its Personal 35 Day Notice Account (Issue 7), jointly tops our up to 60-day notice chart and pays interest monthly. The account can be opened online with a £1,000 minimum deposit and allows savers to add to their pots without restriction (via a nominated account). Early access isn’t permitted, so savers face a 35-day wait before getting their hands on their money. Note that withdrawals must also be made via a nominated account.

Shawbrook Bank additionally pays 4.16% AER monthly or on anniversary on its 45 Day Notice Account – Issue 22. However, savers will need to wait a longer 45 days to access their cash. To open the account online, savers must deposit a minimum of £1,000, which they can add to while the issue remains open. Once funded, there’s the extra option to manage the account over the phone.

The same provider also offers its Raisin UK – 45 Day Notice Account at the same rate, available online or by app via the Raisin UK Savings platform on a minimum opening deposit of £1,000. Further additions aren’t permitted, and neither are partial withdrawals. Only the full balance can be withdrawn, which is subject to a 45-day loss of interest penalty. This account has a 45-day wait for withdrawals.

Elsewhere, continuing to lead our up to 90-day notice chart is the 90 Day Notice Account (Issue 10) from Bank of London and The Middle East. It pays an expected profit rate of 4.37% AER quarterly and can be opened online with a substantial £10,000 minimum deposit. Savers can add to their pots via a nominated account, but if they want to make a withdrawal they have a 90-day wait before they’re granted access to their money.