The Bank of England base rate currently stands at 5.00%, following a rate cut of a quarter of a percentage point in August 2024. With the Bank of England base rate predicted to fall further in the coming months, savers are keen to secure the best rate on their savings. In this article, we share the bank accounts and easy access cash ISAs offering interest rates over 5% so you can earn the most interest on your money.
In this article, we share the bank accounts and easy access cash ISAs offering interest rates over 5% so you can earn the most interest on your money.
For more information on the best rates in the market bookmark our savings best buy tables to stay up to date with the latest rates.
Partner SpotlightGet 4.92% (AER Variable) with the Plum Cash ISA
Earn 4.92% (AER Variable) with the Plum Cash ISA
- Easy Access Cash ISA
- Rate includes a Plum Bonus of 0.88% AER (variable)
- T&Cs and eligibility criteria apply
- Plum account required
Savings accounts with rates over 5%
In the following comparison table, we compare some of the best accounts and easy-access cash ISAs on the market right now with interest rates of 5% and over. For more information on the accounts, eligibility and any key features of the account see below the table.
Remember when saving money into a non-ISA account, you can only earn up to £1,000 in interest, if you are a basic-rate taxpayer, before you will be taxed on interest (£500 for a higher-rate taxpayer). This is known as the personal savings allowance and more information can be found in our article, 'What is the personal savings allowance and how you can boost it by £5,000'. If you're saving within a cash ISA, you can save up to £20,000 across all your ISAs every year tax-free. Any interest you earn is tax-free.
Best savings accounts with over 5% interest - a comparison
| Savings Rate | Account type | Pay in amount | Easy access | Bank's current account required | |
| Principality 6 Month Regular Saver | 8.00% | Regular Saver | £0 - £200 (per month) | No | No |
| HSBC Regular Saver | 7.00% | Regular Saver | £25 - £250 (per month) | No | Yes |
| First Direct Regular Saver | 7.00% | Regular Saver | £25 - £300 (per month) | No | Yes |
| The Co-operative Bank Regular Saver | 7.00% | Regular Saver | £0 - £250 (per month) | Yes | Yes |
| Skipton Building Society Member Regular Saver | 7.00% | Regular Saver | £0 - £250 (per month) | No | Yes |
| Nationwide Flex Regular Saver | 6.50% | Regular Saver | £0 - £200 (per month) | Yes | Yes |
| Club Lloyds Monthly Saver | 6.25% | Regular Saver | £25 - £400 (per month) | Yes | Yes |
| NatWest Digital Regular Saver | 6.17% | Regular Saver | £0 - £150 (per month) | Yes | Yes |
| RBS Digital Regular Saver | 6.17% | Regular Saver | £0 - £150 (per month) | Yes | Yes |
| Saffron Building Society | 5.55% | Children's Regular Saver | £5 - £100 (per month) | Yes | No |
| Halifax Regular Saver | 5.50% | Regular Saver | £25 - £250 (per month) | No | No |
| Halifax Kids’ Monthly Saver | 5.50% | Children's Regular Saver | £10 - £100 (per month) | No | No |
| Prosper 365 Day Notice Tracker | 5.50% | Notice Account | £20,000 | No | Yes |
| Prosper 185 Day Notice Tracker | 5.34% | Notice Account | £20,000 | No | Yes |
| Gatehouse Bank | 5.30% | Regular Saver | £1 - £300 (per month) | No | No |
| Prosper 6 Month Fixed Term Deposit | 5.30% | Fixed Rate Bond | £20,000 | No | Yes |
| Prosper 90 Day Notice Tracker | 5.20% | Notice Account | £20,000 | No | Yes |
| Ulster Bank Loyalty Saver | 5.20% | Loyalty Saver | £5,000 | Yes | Yes |
| Barclays Rainy Day Saver | 5.12% | Easy Access | £1 - £5,000 | Yes | Yes |
| Trading 212 Cash ISA | 5.10% | Cash ISA | £1 | Yes | No |
| Investec 90 Day Notice Saver | 5.05% | Notice Account | £5,000 | No | No |
| Chip Easy Access Saver* | 5.00% | Easy Access | £1 | Yes | Yes |
| Santander Regular Saver | 5.00% | Regular Saver | £0 - £200 (per month) | No | Yes |
| Nationwide FlexDirect account | 5.00% | Current Account | £1,000 | Yes | Yes |
Correct at 01/10/2024
Partner SpotlightGet 4.92% (AER Variable) with the Plum Cash ISA
Earn 4.92% (AER Variable) with the Plum Cash ISA
- Easy Access Cash ISA
- Rate includes a Plum Bonus of 0.88% AER (variable)
- T&Cs and eligibility criteria apply
- Plum account required
Principality 6 Month Regular Saver - 8.00%
The Principality Regular Saver allows account holders to get 8% interest on their deposits up to £200 a month for a 6-month period. There is no access to your funds within the 6-month term.
There is no minimum deposit and you don't have to save every month. However, if you deposit the maximum amount of £1,200 over six months, then you can expect to have a final balance of £1,227.53 at the end of the six months.
Who is eligible for the Principality 6 Month Regular Saver?
- Must be at least 16 years old
- Must be a UK resident
- Can hold the account jointly
HSBC Regular Saver - 7.00%
HSBC's Regular Saver allows you to earn 7.00% interest for 12 months on a maximum balance of £3,000. You can choose to save between £25 - £250 by standing order each month and if you don't meet the maximum you can carry over any unused allowance to the following months. If you save the maximum allowed amount of £250 each month, your balance after 12 months is likely to be £3,113.75. With an HSBC Regular Saver, you cannot access money for 12 months to benefit from the rate.
Who is eligible for the HSBC Regular Saver?
-
- Must be 18+
- Must have one of the following HSBC current accounts: HSBC Premier, HSBC Advance, Bank Account, Bank Account Pay Monthly, HSBC Student Bank Account or Graduate Bank Account which you must maintain for the 12-month duration
First Direct Regular Saver - 7.00%
The First Direct Regular Saver allows First Direct personal current account holders to get 7% interest for a fixed period of 12 months. You cannot access your money within the 12-month term unless you close your account and if you do this, you will only receive an interest rate equivalent to the First Direct savings account, which is currently 2.00%.
You can only save a maximum of £3,600 a year in the First Direct Regular Saver and you can save between £25 - £300 a month. If you do not save a maximum of £300 each month you can carry over any unused allowance to the following month. If you save the maximum amount of £3,600 throughout the term you can expect to earn around £136.50 in interest.
Who is eligible for the First Direct Regular Saver?
- Must be a First Direct current account holder
The Co-operative Bank - 7.00%
The Co-operative Bank - 7.00%The Co-operative Bank Regular Saver allows Co-op Bank account holders to get 7% interest on their deposit for a fixed period of 12 months. The 12-month period starts from the date when the bank accepts your first deposit. You can access the account whenever you want and there are no penalties if you choose to do so.
You can save up to £250 a month every month. If you exceed this amount, the excess will be returned to you. If you save the maximum for 12 months, you could end up with a balance of £3,114.21 of which £114.21 could be interest earned assuming the Co-op doesn't change the interest rate, you haven't made any additional deposits or withdrawals, and you make your 12 regular monthly deposits on the first each month starting in January.
Who is eligible for the Co-operative Bank?
- Must be a current Co-operative Bank account holder
- Must be a UK resident
- Must be aged 16 or over
Skipton Building Society Regular Saver - 7.00%
The Skipton Building Society allows Skipton members to get 7% interest for a fixed period of 12 months. This account is only open to those who were Skipton Building Society members on or before 11th January 2024. You cannot access your money within the 12-month term unless you close your account (which you can do at any time and withdraw the full balance).
You can only save a maximum of £3,000 a year in the Skipton Building Society Regular Saver and you can save between £1 - £300 a month. If you save the maximum amount of £3,000 throughout the term you can expect to earn around £113.00 in interest.
Who is eligible for the Skipton Building Society Regular Saver?
- Must be a Skipton member on or prior to 11th January 2024
Nationwide Flex Regular Saver - 6.50%
The Nationwide Flex Regular Saver offers existing customers 8.00% variable interest on their savings account balance. In order to open an account you must be an existing Nationwide current account holder.
Savers can deposit a maximum of £200 a month into the account and can make up to 3 withdrawals penalty-free. If you make 4 or more withdrawals from the account the interest rate will drop to 2.15% for the remainder of the term. The account can be opened online or via the mobile app.
Who is eligible for the Nationwide Flex Regular Saver?
- Must be an existing Nationwide current account holder
- Must be 16 or over and live in the UK
Club Lloyds Monthly Saver - 6.25%
Club Lloyds Monthly Saver - 6.25%You can earn up to 6.25% for 12 months on your Club Lloyds Monthly Saver if you are a Club Lloyds account holder. You need to set up a standing order or bank transfer between £25 and £400 a month to get the 6.25% interest rate, but you can top up the amount you save each month at any time, as long as it does not exceed the £400 monthly limit. If you deposit the maximum amount each month you can expect your account balance to be roughly £4,950.00 after the interest is paid.
If you set up a regular payment or standing order this needs to reach the account by the 25th of each month. You can access your money at any time with a Club Lloyds monthly saver and after 12 months the account will change to a standard saver. The interest on this account is paid at the end of the 12-month term.
Who is eligible for the Club Lloyds Monthly Saver?
- You need to be a UK resident and a minimum of 18 years old to open a Club Lloyds Monthly Saver
- Must be a Club Lloyds current account holder (which comes with a £3 monthly fee that is waived if you deposit at least £2,000 into the account each month)
- Must not have already opened a monthly saver account in the last 12 months
NatWest & RBS Digital Regular Saver - 6.17%
You can earn 6.17% gross (6.00% AER variable) on your NatWest and RBS Regular Saver balances between £1 - £5,000. However, once you exceed £5,000 the interest rate does drop to 1.75%. You can access your money at any time with a NatWest or RBS Digital Regular Saver which makes it a good option if you think you will need your money at some point in the future. Interest on this savings account is calculated daily and paid monthly.
You can save between £1 - £150 a month by standing order but this can be changed at any time and you can top up your monthly contribution up to the £150 limit. Additionally, it is possible to top up savings with round-ups and these round-up savings don’t contribute towards the monthly limit. If you save a maximum of £150 a month into this account your balance after 12 months will be £1,859.83 and you can expect to earn approximately £59.83 in interest.
Who is eligible for the Natwest/RBS Digital Regular Saver?
- Must be 16+
- Have a NatWest/RBS current account
- Must be your only digital regular saving account
Saffron Building Society Children's Regular Saver - 5.55%
Saffron Building Society Children's Regular Saver - 5.55%The Saffron Building Society Children's Regular Saver comes with a 5.55% AER variable interest rate. The minimum balance is £5 and the maximum amount you can save for your child each month is £100. If you save the maximum amount each month, you could have a balance of £1,236.08 at the end of the 12 months inclusive of £36.08 in interest.
This is an easy-access account and you're allowed to take money out of the account whenever you want. The account can be opened online or by post and can then be managed in branch, by post, by phone, or on webchat.
Who is eligible for the Saffron Building Society Children's Regular Saver?
To open the account, you must be:
- 17 years old or younger and a UK resident
- For children under 13, the account must have an adult signatory
- Only one account per child
Halifax Regular Saver - 5.50%
You can earn 5.50% gross/AER when you save between £25 and £250 each month using a Halifax Regular Saver account. The interest rate is fixed and cannot be changed during the term once you open your account. You cannot access your savings during the 12 month term and if you choose to close the account, the balance including any interest that you earned will be transferred to a Halifax Everyday Saver account and earn the variable rate of interest available with that type of account at the time.
You can open a Halifax Regular Saver account with a minimum balance of £1 and you can deposit between £25 and £250 each month. If you save the maximum amount of £250 each month, your balance at the end of 12 months is likely to be around £3,082.50 if you make no withdrawals.
Who is eligible for the Halifax Regular Saver?
- Must be 16+
- Must be a UK resident
Halifax Kids’ Monthly Saver - 5.50%
If you would like to save money on your child's behalf, the Halifax Kids' Monthly Saver has a fixed interest rate of 5.50% for 12 months. You can contribute between £10 - £100 per month by standing order and the amount must reach the account by the 25th of the month to get the interest rate for that month. You can change the amount of your standing order at any time but you don't have to contribute every month. The money in your account cannot be accessed for the duration of the term unless you close your account. After the 12 months, the money that you have saved and the interest will be transferred to the Kids' Saver account which was opened when you opened the Monthly Saver.
Who is eligible for the Halifax Kids' Monthly Saver?
- For children 15 and under (ideal for adults who want to save on their behalf)
- Accountholder must be 18+ and a UK resident
- If you aren’t a parent or legal guardian of the child you need their permission to open this account
Prosper 365 Day Notice Tracker - 5.50%
The Prosper 365 Day Notice Tracker pays a variable interest rate of 5.50% AER which is calculated daily and paid monthly. The interest rate tracks the Bank of England base rate plus 0.50% AER. You can save between £20,000 to £250,000 with this account. The account is provided by Santander International, but you can only manage it via the Akoni dashboard on Propser.
As long as you do not make any withdrawals within 12 months, you can expect to earn £54.83 in interest for every £1,000. As this is a notice account, to withdraw your funds, you must serve notice. While earlier withdrawal may be possible without notice, it may be subject to additional charges or penalties.
Who is eligible for the Prosper account?
- Must have a Propser account
- Must have at least £20,000 to deposit
Prosper 185 Day Notice Tracker - 5.34%
The Prosper 185 Day Notice Tracker pays a variable interest rate of 5.34% AER which is calculated daily and paid monthly. The interest rate tracks the Bank of England base rate plus 0.34% AER. You can save between £20,000 to £250,000 with this account. The account is provided by Santander International, but you can only manage it via the Akoni dashboard on Propser.
As long as you do not make any withdrawals within 12 months, you can expect to earn £53.26 in interest for every £1,000. As this is a notice account, to withdraw your funds, you must serve notice. While earlier withdrawal may be possible without notice, it may be subject to additional charges or penalties.
Who is eligible for the Propser account?
- Must have a Propser account
- Must have at least £20,000 to deposit
Gatehouse Bank Regular Saver - 5.30%
The Gatehouse Bank Regular Saver is designed for people who want to save up to £300 per month and don't need to access their funds for at least 12 months. You can apply for this account online and manage it via the dedicated savings app.
It's worth keeping in mind that Gatehouse can change the interest rate but will give you at least 30 days' notice if it plans on reducing the rate. During this notice period, you will be allowed to close your account if you wish, and any profit you earn will be paid out. If you save the maximum amount of £3,600 during the term, you will receive interest of around £195.50 during the term. The total would be around £3,795.50.
Who is eligible for the Gatehouse Bank Regular Saver account?
- Must be 18 and over and live in the UK or be a UK resident for tax purposes
- Must be a sole account holder; this account is not open to joint applicant
Prosper 6 Month Fixed Term Deposit - 5.30%
The Prosper 6 Month Fixed Term Deposit account is provided by GB Bank and pays a 5.02% interest rate plus a 0.28%AER boost by Prosper. The account can be opened and managed online via the Prosper platform. The interest rate is fixed for the 6-month term so it can't be reduced or increased. However, your money is locked away for the full term and can only be accessed after the six months.
To give you an illustrative example of how much you could earn, for every £1,000 you deposit, you would earn £26.49 in interest after six months.
Who is eligible for a Prosper 6 Month Fixed Term Deposit account?
- Must have a Prosper account
- Must have at least £20,000 to save
- Must be a UK resident
- Must be at least 18 years old
Prosper 90 Day Notice Tracker - 5.20%
The Prosper 90 Day Notice Tracker pays a variable interest rate of 5.20% AER which is calculated daily and paid monthly. The interest rate tracks the Bank of England base rate and includes a 0.18% AER boost paid by Prosper. You can save between £20,000 to £250,000 with this account. The account is provided by Santander International, but you can only manage it via the Akoni dashboard on Propser.
As long as you do not make any withdrawals within 12 months, you can expect to earn £52 in interest for every £1,000. As this is a notice account, to withdraw your funds, you must serve notice. While earlier withdrawal may be possible without notice, it may be subject to additional charges or penalties.
Who is eligible for the Propser account?
- Must have a Propser account
- Must have at least £20,000 to deposit
Ulster Bank Loyalty Saver - 5.20%
The Ulster Bank Loyalty Saver pays a 5.20% variable interest rate on balances above £5,000. If you have less than £5,000 in your account, you will receive 2.25%. However, if you have at least £5,000 in your account, you will receive 5.20% on the full amount (not just the amount above the £5,000).
The interest rate is variable and can change at any time. To give you an idea, if you deposit £5,000 in your account at the start of the year, you could earn around £260 in interest within 12 months assuming you do not withdraw your money.
Who is eligible for an Ulster Bank Loyalty Saver?
- Must be 16 years old
- Must be a UK resident
- Must have an Ulster Bank current account
Barclays Rainy Day Saver - 5.12%
If you are a Barclays Blue Rewards member you can earn up to 5.12% on your balance up to £5,000 in a Barclays Rainy Day Saver. If you deposit the full £5,000 you can expect to earn roughly £251.34 in interest on the balance. However, if your balance exceeds the £5,000 limit the interest rate drops to 1.16% on funds over and above £5,000.
The Barclays Rainy Day Saver can be opened with a minimum of £1 and you can deposit a maximum of £10 million. If required, you can access your money at any time.
Who is eligible for the Barclays Rainy Day Saver?
- Must be a Barclays Blue Rewards member (can earn cashback and rewards but must pay £5 monthly account fee)
- Must be 18+
- Must be a UK resident
Trading 212 Cash ISA - 5.10%
Trading 212 Cash ISA - 5.10%Trading 212 Cash ISA holders can earn a variable interest rate of up to 5.10% on their deposits up to £20,000 each tax year. This is a Cash ISA so any interest earned will be tax-free. There are no minimum amounts to qualify for the 5.10% interest and the deposits can be accessed at any time without impacting the interest rate on offer. The Cash ISA is flexible.
If you deposit £20,000 and do not make any withdrawals, you could earn around £1,046.38 in interest in one year assuming the interest rate remains the same.
Who is eligible for a Trading 212 Cash ISA?
- Must be 18+
- Must be a UK resident
Investec 90 Day Notice Tracker - 5.05%
Investec 90 Day Notice Tracker - 5.05%The Investec 90-Day Notice Tracker pays a variable interest rate of 5.05% on balances between £5,000 and £250,000. As this is a notice account, you will need to give 90 days' notice to access your savings. You can open and manage the account online.
If you deposit £5,000, you could earn interest of £252.67 after 12 months as long as you don't make any withdrawals and your deposit doesn't fall under £5,000. This assumes the interest rate remains the same so it's only an illustrative example.
Who is eligible for an Investec 90-Day Notice Tracker?
- Must be at least 18 years old
- Must have a UK address
- Must have at least £5,000 to save
- Can't be held jointly
Chip Easy Access Saver - 5.00%
Chip Easy Access Saver - 5.00%The Chip Easy Access Saver* pays a variable interest rate of 5% AER. This is accrued daily but paid monthly. The account comes with the option to make three penalty-free instant withdrawals every 12 months. If you make more than three penalty-free withdrawals, your overall interest rate will fall by 1.10% and you will receive 3.90% AER instead.
There is no minimum balance required with this account and the first £85,000 in your account will be FSCS-protected. You will earn £50 for every £1,000 you deposit over a 12-month period assuming the interest rate does not change and you do not withdraw your money.
Santander Regular Saver - 5.00%
Santander's Regular Saver comes with 5% interest for the first 12 months. You can save up to £200 per month with this account and you can make withdrawals if you need to do so. However, you need to fund your account with a standing order from an existing Santander current account. If you deposit £200 per month and make no withdrawals for the full 12 months, you'll get back your deposits as well as up to £65.01 in interest.
Who is eligible for a Santander Regular Saver?
- Must be a UK resident
- Must be 16+
- Must have a Santander current account
Nationwide FlexDirect account - 5.00% on balance
Nationwide FlexDirect current account holders can earn 5% interest on current account balances up to £1,500. In order to qualify for the rate, however, you must pay in a minimum of £1,000 a month and if you don't meet this criteria the interest rate will revert to 1.00%. Nationwide account transfers do not count towards the £1,000 monthly pay-in amount required. After the initial 12 months end, the interest rate on this account will revert back to 1.00%.
When opening a Nationwide FlexDirect account you can also benefit from a 12-month interest-free overdraft, as long as you meet the required eligibility criteria, although after the 12-month period ends this rate does increase to 39.9%. You can also access the Flex Instant Saver which has an interest rate of 3.25% for 12 months or the Flex Regular Saver which is 6.50% variable for 12 months.
Who is eligible for the Nationwide FlexDirect account?
- Must be 18+
- Must be a UK resident
- Hold no more than 4 existing Nationwide accounts (including both sole and joint accounts)
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