There was also further positive news for ISA holders, as fears the £20,000 allowance would be reduced to £4,000 in the Spring Statement did not come to fruition. However, the Government noted ISA changes would still be explored in the future.
Keeping your pot stored away in competitive accounts is still possible and was helped by the Monetary Policy Committee (MPC) voting to keep the Bank of England base rate at 4.5% last month.
This might come as a relief for savers after the rate dropped from 4.75% in February.
So ahead of the new tax year, should there be reason for optimism for savers’ funds?
Anna Bowes from The Private Office said: “While inflation eased more than expected in the year to February 2025, falling to 2.8%, there’s still a chance the Bank of England could cut rates in the future.
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“However, with the cost of living set to rise in April – thanks to increases in essential bills like energy, council tax, and water and now the possible US tariffs – the bank has said it will take a cautious approach to lowering rates further.
“That said, financial markets are still predicting at least two more cuts this year, which could bring the base rate down to 4% by the end of 2025. If that happens, we’d likely see savings rates drop as well.”
Bowes added: “For now, the silver lining for savers is that interest rates on savings accounts have remained steady and, in some cases, have even increased over the last month.”
Here are best buys across easy-access, notice, fixed rate and ISA cash accounts, with data from The Private Office.
EASY-ACCESS ACCOUNTS
4.75% Monument Limited Access Saver – minimum deposit £25,000. Apply and access via banking app. Three penalty-free withdrawals allowed – on fourth withdrawal, the rate will fall to 0.5% for the rest of the year.
4.75% Atom Bank Instant Saver Reward – minimum deposit £0. Apply and access via mobile app. Easy access. The Reward rate (4.75% gross monthly/4.85% AER) is paid in any month where a withdrawal is not made and the account is not closed. The Withdrawal rate (3% AER) is paid in any month where a withdrawal is made or the account is closed.
4.64% Kent Reliance Easy access savings account Issue 79 – minimum deposit £1,000. Apply and access online. Unlimited access.
4.63% Vida Savings Defined Access Saver Issue 1 – minimum deposit £10. Apply and access online. Five penalty-free withdrawals allowed per year. Rate drops to 2.5% on sixth withdrawal for the remainder of the year.
4.59% Charter Savings Bank Easy Access – Issue 58 – minimum deposit £1. Apply and access online. Unlimited access.
NOTICE ACCOUNTS
5% Prosper Tracker 95d Notice Account Issue 2 (Provided by OakNorth) – minimum deposit £20,000. Apply and access via mobile app. Withdrawals are subject to 95 days’ notice; no earlier access is allowed. 4.61% AER interest will be paid by OakNorth daily. An additional 0.39% AER boost will be paid by Prosper on each anniversary of the account opening. The account is available exclusively through the Prosper app, provided by OakNorth.
4.85% Oxbury 120 Day Notice Base Rate Tracker (Issue 1) – minimum deposit £1,000. Apply and access online. Withdrawals are subject to 120 days’ notice; no earlier access is allowed.
4.83% Prosper Tracker 185d Notice Account (Provided by Santander International) – minimum deposit £20,000. Apply and access online. Withdrawals are subject to 95 days’ notice only; no earlier access is allowed.
4.81% OakNorth 95 Day Notice Base Rate Tracker – Issue 9 – minimum deposit £1. Apply and access online. Withdrawals are subject to 90 days’ notice only; no earlier access is allowed.
4.8% Oxbury 90 Day Notice Base Rate Tracker (Issue 8) – minimum deposit £1,000. Apply and access online. Withdrawals are subject to 90 days’ notice only; no earlier access is allowed.
FIXED BONDS
One-year fixed-term bonds
4.7% DF Capital 1 Year Fixed Rate Deposit (Issue 17) – minimum deposit £1,000. Apply online. No access within the term.
4.7% Raisin (via Al Rayan Bank) – minimum deposit £1,000. Apply online via the Raisin Cash Platform. No access within the term. The rate is not guaranteed; in order to comply with Sharia Law, the rate displayed is an expected profit rate.
4.65% Smart Save 1 Year Fixed Rate Saver – minimum deposit £1,000. Apply online. No access within the term.
Two-year fixed-term bonds
4.65% Gatehouse Bank 2 Year Woodland Saver – minimum deposit £1,000. Apply online. No access within the term.
4.59% Secure Trust Bank 2 Year Fixed Rate Bond (29 Apr 27) – minimum deposit £1,000. Apply online. No access within the term.
4.58% Birmingham Bank 2 Year Fixed Rate Bond – Issue 12 – minimum deposit £1,000. Apply online. No access within the term.
Three-year fixed-term bonds
4.65% Gatehouse Bank 3 Year Woodland Saver – minimum deposit £1,000. Apply online. No access within the term. The rate is not guaranteed; in order to comply with Sharia Law, the rate displayed is an expected profit rate.
4.58% Secure Trust Bank 3 Year Fixed Rate Bond – minimum deposit £1,000. Apply online. No access within the term.
4.57% United Trust Bank – minimum deposit £1,000. Apply with app. No access within the term.
Five-year fixed-term bonds
4.65% Gatehouse Bank 5 Year Woodland Saver – minimum deposit £1,000. Apply online. No access within the term. The rate is not guaranteed; in order to comply with Sharia Law, the rate displayed is an expected profit rate.
4.58% Secure Trust Bank 5 Year Fixed Rate Bond (29 April 2030) – minimum deposit £1,000. Apply online. No access within the term.
4.57% Birmingham Bank – minimum deposit £1,000. Apply online. No access within the term.
CASH ISAS
Easy-access cash ISAs
4.8% Tembo Cash ISA – minimum deposit £10. Available through the Tembo app only. Transfers in not accepted at this time. Tembo uses two partner banks for its Cash ISA, Barclays and Bank of Scotland, and the proportion of money held with each bank can vary over time. Please contact Tembo directly for any specific questions on who your money is held with.
4.76% Monument Easy Access Cash ISA – minimum deposit £10,000. Apply and access via mobile app. Easy access.
4.57% Moneybox Open Access Cash ISA – minimum deposit £500. Available through Moneybox app only. Easy access. Transfers in are accepted. Up to three withdrawals can be made within a 12-month period from the date of opening the Cash ISA without affecting the interest rate. If four or more withdrawals are made, rate drops to 0.75% for the remainder of the 12-month period. Rate includes a 0.66% bonus rate for the first 12 months.
Moneybox Cash ISA funds are currently deposited with Santander UK plc and HSBC Bank plc, with 50% of your deposit held with each.
4.56% Kent Reliance Easy Access Cash Isa Issue 55 – minimum deposit £1,000. Available through Moneybox app only. Easy access. Transfers in are accepted. Up to three withdrawals can be made within a 12-month period from the date of opening the cash ISA without affecting the interest rate.
If four or more withdrawals are made, rate drops to 0.75% for the remainder of the 12-month period. Rate includes a 0.66% bonus rate for the first 12 months. Moneybox Cash ISA funds are currently deposited with Santander UK plc and HSBC Bank plc, with 50% of your deposit held with each.
4.55% Charter Savings Bank – minimum deposit £1. Apply and access online and in branch. Transfers in are allowed. Unlimited easy access.
FIXED-TERM CASH ISAS
One-year fixed-term cash ISAs
4.53% UBL UK 1 Year Fixed Rate Cash ISA – minimum deposit £2,000. Apply online, in branch, by post or mobile banking app. Access on closure only, subject to 90 days’ loss of interest. Transfers in accepted.
4.51% Vanquis 1 Year Fixed Rate Cash ISA – minimum deposit £1,000. Apply online. Withdrawals allowed, subject to a 90-day interest penalty. Transfers in are accepted.
4.51% Charter Savings Bank 1 Year Fixed Rate Cash ISA – minimum deposit £5,000. Apply online. Withdrawals allowed, subject to a 90-day interest penalty. Transfers in are accepted.
Two-year fixed-term cash ISAs
4.45% Furness 2 Year Fixed Rate ISA – minimum deposit £1,000. Apply online, in branch or by post. Access on closure only, subject to a 180-day interest penalty. Transfers in are accepted.
4.42% Vanquis 2 Year Fixed Rate Cash ISA – minimum deposit £1,000. Apply online, in branch or by post. Access on closure only, subject to a 180-day interest penalty. Transfers in are accepted.
4.38% United Trust Bank Cash ISA 2 Year Bond – minimum deposit £5,000. Apply online. Withdrawals allowed, subject to a 180-day interest penalty. Transfers in are accepted.
Three-year fixed-term cash ISAs
4.41% UBL UK 3 Year Fixed Rate Cash ISA – minimum deposit £2,000. Apply online, in branch, by post or mobile banking app. Access on closure only, subject to 270 days’ loss of interest. Transfers in accepted.
4.33% Hodge 3 Year Fixed Rate Cash ISA (Online Only) – minimum deposit £1,000. Apply online. Withdrawals allowed, subject to a 270-day interest penalty. Transfers in are not accepted.
4.3% Aldermore 3 Year Fixed Rate Cash ISA – minimum deposit £1,000. Apply online. Withdrawals allowed, subject to a 180-day interest penalty. Transfers in are accepted.
Five-year fixed-term cash ISAs
4.31% Hodge 5 Year Fixed Rate Cash ISA – minimum deposit £1,000. Apply online, in branch, by post or mobile banking app. Access on closure only, subject to 365 days’ loss of interest.
4.31% Castle Trust Bank 5 Year Fixed Rate Cash ISA – minimum deposit £1,000. Apply online. Withdrawals allowed, subject to a 360-day interest penalty. Transfers in are accepted.
4.3% Leek United BS 5 Year Fixed Rate, Fixed Term Cash ISA – minimum deposit £1,000. Apply online, in branch, by post or mobile banking app. Access on closure only, subject to 365 days’ loss of interest. Transfers in accepted.
Rates correct as of 4 April 2025
