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The savings accounts paying the most interest

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Written by: Emma Lunn
11/01/2022
Savings rates have increased over the past month, so it’s the ideal time to move your cash savings to a higher paying account.

Leaving your money languishing in a low-paying savings account or your current account means you could be missing out on valuable interest.

Here, we list the top-paying, open-to-all accounts on the market:

Easy access accounts

0.67% Shawbrook Bank Easy Access Account Issue 28 – minimum deposit £1,000. Apply online. Access online, by email or telephone.

0.65% Paragon Triple Access Savings Account – Issue 5 – minimum deposit £1. Apply and access online.

0.61% Raisin UK (Provided by Brown Shipley) Easy Access Account – minimum deposit £1,000. Apply and access online.

0.60% Charter Savings Bank Easy Access – Issue 23 – minimum deposit £5,000. Apply and access online or by post.

0.60% Ford Money Flexible Saver – minimum deposit £1. Apply and access online.

Notice accounts

1.10% Oxbury Personal 120 Day Notice Account Issue 3 – minimum deposit £1,000. Apply online. Access online or via mobile app. Withdrawals are subject to 120 days’ notice only; no earlier access is allowed.

1.10% Secure Trust Bank 120 Day Notice Account (11.Nov.2021) – minimum deposit £1,000. Apply online. Access online or by telephone. Withdrawals are subject to 120 days’ notice only; no earlier access is allowed.

1.08% Shawbrook Bank 120 Day Notice Personal Account Issue 50 – minimum deposit £1,000. Apply online. Access online, by telephone or via email. Withdrawals are subject to 120 days’ notice only; no earlier access is allowed.

1.05% Oxbury Personal 95 Day Notice Account Issue 8 – minimum deposit £1,000. Apply online. Access online or via mobile app. Withdrawals are subject to 95 days’ notice only; no earlier access is allowed.

1.05% Charter Savings Bank 120 Day Notice – Issue 24 – minimum deposit £5,000. Apply and access online or post. Withdrawals are subject to 120 days’ notice only; no earlier access is allowed.

One-year fixed term bonds

1.36% Investec Fixed Rate Saver – minimum deposit £5,000. Apply online. No access within the term.

1.34% Zopa 1 year Fixed Term Savings – minimum deposit £1,000. Apply online. No access within the term.

1.34% Raisin UK (Provided by Zenith Bank UK) 1 Year Fixed Term Deposit – minimum deposit £1,000. Apply online. No access within the term.

Two-year fixed term bonds

1.57% Raisin UK (Provided by Zenith Bank UK) 2 Year Fixed Term Deposit – minimum deposit £1,000. Apply online. No access within the term.

1.56% Zopa 2 years Fixed Term Savings – minimum deposit £1,000. Apply online. No access within the term.

1.55% Charter Savings Bank 2 Year Fixed Rate Bond – minimum deposit £5,000. Apply online. No access within the term.

Three-year fixed term bonds

1.85% Raisin UK (Provided by Zenith Bank UK)  3 Year Fixed Term Deposit  – minimum deposit £1,000. Apply online. No access within the term.

1.82% Raisin UK 3-Year Fixed Term Deposit (provided by UBL UK) – minimum deposit £1,000. Apply online. No access within the term.

1.78% Raisin UK (Provided by Hoise Finance) 3 Year Fixed Term Deposit – minimum deposit £1,000. Apply online. No access within the term.

Five-year fixed term bonds

2.10% Secure Trust Bank 5 Year Fixed Rate Bond (26.Jan.2027) ‒ minimum deposit £1,000. Apply online. No access within the term.

2.08% Hodge Bank 5 Year Fixed Rate Bond (Online only) – minimum deposit £1,000. Apply online. No access within the term.

2.05% Raisin UK (Provided by UBL UK) 5 Year Fixed Term Deposit. – minimum deposit £1,000. Apply online. No access within the term.

Easy access cash ISAs

0.70% Scottish Building Society E-ISA – minimum deposit £1. Apply and access online. Transfers in are allowed. This is not a flexible ISA. This is not a portfolio ISA.

0.67% Shawbrook Bank Easy Access Cash ISA Account Issue 18 ‒ minimum deposit £1,000. Apply online. Access online or by telephone. Transfers in are allowed. This is not a flexible ISA. This is not a portfolio ISA.

0.65% Cynergy Bank Online ISA (Issue 17) – minimum deposit £1. Apply online. Access online or via mobile app. Transfers in accepted are accepted. This is not a Flexible ISA.

0.65% Paragon Triple Access ISA – Issue 5 – minimum deposit £1. Apply and access online. Transfers in are allowed. This is a flexible ISA. This is a portfolio ISA. If more than three withdrawals are made in a 12 month period, the rate payable will drop to 0.25% for the remainder of the account year.

0.60% Leeds Building Society Limited Issue Online Access ISA (Issue 41) – minimum deposit £1,000. Apply and access online. Transfers in are allowed. This is not a flexible ISA. This is not a portfolio ISA. The maturity date is 28/02/2023.

One-year fixed term cash ISAs

0.95% Aldermore 1 Year Fixed Rate Cash ISA – minimum deposit £1,000. Apply online. Withdrawals are allowed, subject to 90 days’ loss of interest. Transfers in are allowed. This is not a flexible ISA. This is a portfolio ISA – so you can open more than one type of cash ISA with the provider (e.g. fixed and variable) in the same tax year.

0.93% Shawbrook Bank 1 Year Fixed Rate Cash ISA Bond Issue 53 – minimum deposit £1,000. Apply online. Withdrawals are allowed, subject to 90 days’ loss of interest. On maturity, the account is transferred to the Cash ISA Matured Funds account. Transfers in are allowed. This is not a flexible ISA. This is not a portfolio ISA.

0.92% Kent Reliance. One year fixed rate cash ISA Issue 48 – minimum deposit £1,000. Apply online, in branch or by post. Withdrawals are allowed, subject to 90 days’ loss of interest. Transfers in are allowed within 30 days of account opening. This is not a flexible ISA. This is a portfolio ISA – so you can open more than one type of cash ISA with the provider (e.g. fixed and variable) in the same tax year.

Two-year fixed term cash ISAs

1.20% Aldermore 2 Year Fixed Rate Cash ISA – minimum deposit £1,000. Apply online. Withdrawals are allowed, subject to 180 days’ loss of interest. Transfers in are allowed. This is not a flexible ISA. This is a portfolio ISA – so you can open more than one type of cash ISA with the provider (e.g. fixed and variable) in the same tax year.

1.17% Paragon 2 Year Fixed Rate Cash ISA – minimum deposit £500. Apply online or by post. Withdrawals are allowed, subject to 180 days’ loss of interest. This is a flexible ISA. Transfers in are allowed. This is a portfolio ISA – so you can open more than one type of cash ISA with the provider (e.g. fixed and variable) in the same tax year.

1.17% Castle Trust Bank 2 year Fixed Rate e-Cash ISA – minimum deposit £1,000. Apply online. Full withdrawals are allowed, subject to 180 days’ loss of interest. Transfers in are allowed. This is not a flexible ISA. This is not a portfolio ISA.

Three-year fixed term cash ISAs

1.40% United Bank UK Cash ISA 3 Year Bond ‒ minimum deposit £15,000. Apply by post. Withdrawals are allowed, subject to a penalty that is based on the following calculation; amount of the withdrawal, multiplied by the number of days left until maturity, multiplied by the interest rate, divided by 365. Interest can be withdrawn annually without penalty. Transfers in are allowed. This is not a flexible ISA. This is not a portfolio ISA.

1.35% Aldermore 3 Year Fixed Rate Cash ISA ‒ minimum deposit £1,000. Apply online. Withdrawals are allowed, subject to 180 days’ loss of interest. Transfers in are allowed. This is not a flexible ISA. This is a portfolio ISA – so you can open more than one type of cash ISA with the provider (e.g. fixed and variable) in the same tax year.

1.31% United Trust Bank 3 Year Fixed Rate Cash ISA – minimum deposit £2,000. Apply online, by post, in branch or via mobile app. Access on closure or full transfer out only, subject to 270 days’ loss of interest. Transfers in are allowed. This is not a flexible ISA. This is not a portfolio ISA. Interest is paid on maturity, annually, quarterly or monthly.

Five-year fixed term cash ISAs

1.70% United Bank Cash ISA 5 Year Bond ‒ minimum deposit £15,000. Apply by post. Withdrawals are allowed, subject to a penalty that is based on the following calculation; amount of the withdrawal, multiplied by the number of days left until maturity, multiplied by the interest rate, divided by 365. Interest can be withdrawn annually without penalty. Transfers in are allowed. This is not a flexible ISA. This is not a portfolio ISA.

1.66% United Trust Bank 5 Year Fixed Rate Cash ISA – minimum deposit £2,000. Apply online, by post, in branch or via mobile app. Access on closure or full transfer out only, subject to 365 days’ loss of interest. Transfers in are allowed. This is not a flexible ISA. This is not a portfolio ISA. Interest is paid on maturity, annually, quarterly or monthly.

1.65% Furness Building Society 5 Year Fixed Rate ISA – minimum deposit £1,000. Apply online, in branch or by post. Access on closure only, subject to the loss of 180 days’ interest.

Improvements to ISAs

Anna Bowes, co-founder of Savings Champion, said: “How disappointing that following the long-awaited base rate rise, a number of the best buy rates are actually lower this month than they were at the beginning of December. 

“That said, this really applies to the non-cash Isa accounts as a recent flurry of activity from a few providers means that some of the top cash Isa rates have increased. Scottish Building Society increased the rate on its Cash Isa for new and existing customers by the full base rate rise of 0.15% and as a result went straight to the top of the Easy Access Cash Isa best buy table paying 0.70% AER, the best rate we’ve seen for over a year – and currently higher than the best non-Isa easy access account.

“With regard to fixed term Isas, although there have also been improvements over 1-year and 3-years, across all terms savers can earn more on a non-Isa fixed term bond, even if they have to pay basic rate tax on the interest. Hopefully this will improve as we head into the Isa season.”

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