The best savings accounts in the UK
The major banks usually pay extremely low interests.
They sometimes offer a Regular Saver account with interests up to 5%, however you can only save up to around 300 £ per month.
Some niche banks offer interest rates of up to 2% if the money is put into an up to 5 year fixed interest savings account.
The best instant savings account interest rates are currently around 0.5%.
Which banks offer the best savings rates?
Ford Money, Marcus and Aldermore Bank are not that well known, but often offer some of the best rates.
It is important to check if savings are protected by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. At present the guaranteed amount is £85,000.