Best savings accounts with high interest in the UK: Top 6

When the cost of living is rising, you’ll want to make every penny of your hard-earned money go just a little further. This is where a savings account can come in very handy.

After years of disappointingly low interest rates, there are now a number of savings accounts available in the UK offering decent returns on your money. But which is the best? And crucially, which pays the most interest?

Read on for a full list of the best savings accounts with high interest in the UK right now and some tips on picking the most suitable account for your needs.

We’ll also show you a smart, alternative way to make your money work harder. With Wise Interest**, you can help your money grow by investing in a fund that holds government-guaranteed assets - all within your Wise account from the money services provider Wise. It’s not a bank account but offers some similar features, and your money is safeguarded.

Learn more about Wise Interest

Capital at risk. Growth not guaranteed.

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Table of contents

Quick comparison of the top high interest savings accounts The 6 best savings accounts with high interest rates in the UK Santander - Santander Edge Saver Sidekick - Easy Access Account Atom Bank Instant Saver Reward Charter Savings Bank Notice Account West Brom Building Society Four Access Saver (Issue 2) Conister Bank Fixed Term Deposit Account What is a high-yield savings account? Advantages and disadvantages of savings accounts How to pick the best high interest earning savings account?

Quick comparison of the top high interest savings accounts

Now it’s time for our high interest savings account comparison.

Here are the highest-paying savings accounts available in the UK right now, covering instant access, notice and fixed term options:¹

Account	AER*	Min/max deposit	Account type
Santander Edge Saver (Santander current account customers only)³	6%	£1/£4,000	Instant access
Sidekick Easy Access Account	4.76%	£5,000/£85,000	Instant access
Atom Bank Instant Saver Reward	4.75%	£0/£100,000	Instant access, rate drops when you withdraw
Charter Savings Bank Notice Account	4.65%	£5,000/£1m	Notice - 95 days
West Brom Building Society Four Access Saver (Issue 2)	4.65%	£1/£1m	Instant access, max 4. withdrawals
Conister Bank Fixed Term Deposit Account	4.52%	£5,000/£100,000	1 year fixed

* Rates as of 12th May 2025.

The 6 best savings accounts with high interest rates in the UK

To help you choose the best and highest paying savings account for your needs, let’s dive into the details on each of the accounts listed above.

Note - it’s worth pointing out that at the moment, there are a few cash ISAs which can beat the rates on our list. So, you might want to look into opening an ISA rather than a standard savings account, especially as there’s the added benefit of tax-free interest.

Santander - Santander Edge Saver

The Edge Saver from Santander savings accounts' list has the highest interest rate on our list, but there’s a catch. Actually, there are a couple of catches.

Firstly, it’s only available to personal customers who already have a Santander Edge current account. This has a £3 monthly fee, although it does offer cashback and other benefits in return.²

If you have this account, it’s pretty straightforward to sign into your online banking and apply for the easy access Edge Saver account.

There’s a minimum deposit requirement, but it’s just £1. It pays 7% AER (variable), but only on balances up to £4,000, so it’s not the best choice for those with large savings pots.²³

It’s FSCS protected, so your savings (up to £85,000) are safe.³

📚 Read more: How to open a Santander account online

Sidekick - Easy Access Account

Sidekick is a savings and investment platform, which is able to provide its Easy Access savings account via partner bank OakNorth Bank. This means you’ll still get £85,000 of FSCS protection, as the account is held with a licensed bank.

The Sidekick Easy Access Account pays interest of 4.76% on balances up to £85,000. It’s important to note though that this rate includes a bonus of 0.72% for 12 months - after this time, the rate will drop.⁴ The minimum balance required to open this account is £5,000.⁵

You can withdraw any time you want, with unlimited next working day withdrawals. Everything’s done via the Sidekick app, so you’ll need to download this and register to set up your account.

Atom Bank Instant Saver Reward

The Atom Bank Instant Saver Reward account pays 4.75% on balances up to £100,000, with no minimum balance requirement.⁶

It’s an instant access account, but there is a penalty if you make a withdrawal. On any month you take money out of the account, your interest rate drops to 2.50% - although it bounces back up to 4.75% the following month.⁶

You’ll get full FSCS protection and can open and manage your account via the Atom Bank app.

💡 Did you know that you can earn a return with Wise Interest?

Your money doesn’t have to sit still. With Wise Interest**, you can earn a variable return of up to 3.74% on your GBP balance, all within your Wise account. Here’s how it works: Have a balance in GBP, USD or EUR Switch on Wise Interest Your money is put to work by investing in a fund that holds government-guaranteed assets Returns are added to your money every working day Withdraw up to 10,000 GBP (or equivalent) a day (any amount over will add a processing time of up to 2 working days) Start from as little as £1 Wise Interest is different from savings and current accounts. It allows you to invest your money and help it grow, while staying accessible. Just keep in mind that, like any investment, growth isn’t guaranteed, and your capital may be at risk. Learn more about Wise Interest Capital at risk - past performance does not guarantee future growth. Variable rate is based on 7 day performance as of 14/05/2025. This fund has returned an 1.31% annual average over the last 5 years, excluding Wise fees. For the full 5 year past performance of funds, please visit our website.

Charter Savings Bank Notice Account

The Charter Savings Bank Notice Account pays interest of 4.65% on balances between £5,000 and £1m. To get this rate, you’ll need to provide 65 days notice of a withdrawal, which means planning ahead if you have a big purchase coming up.⁷

The bank does have other notice savings accounts which only require 30 days notice for withdrawals, but the rates are a little lower.

As this and other notice accounts can be beaten by easy/instant access alternatives (at least at the moment), it may not be the most attractive option for all savers. The exception is those that want a little boost to their willpower, where having to wait to withdraw funds could help to resist the temptation to dip into the savings pot.

All Charter Bank savings accounts offer FSCS protection and can be opened online.

West Brom Building Society Four Access Saver (Issue 2)

The West Brom Building Society Four Access Saver (Issue 2) pays a decent interest rate of 4.65% AER variable, but you’re limited to just four withdrawals a year. If you exceed this, your rate will drop to 2.15% gross AER. It will reset back to the 4.65% rate the following year.⁸

You can open the account with just £1 and save up to £1 million in the account. It’s up to you whether interest is paid monthly or annually. The account offers full FSCS protection and can be opened online.⁸

Conister Bank Fixed Term Deposit Account

The only fixed saver on our list, the Conister Bank Fixed Term Deposit Account offers interest of 4.52% if you can lock your money away for 1 year.⁹

This is paid on balances up to £100,000 and there’s a minimum deposit of £5,000 to open the account. You can apply online, and you’ll get full FSCS protection on savings up to £85,000.⁹

Like with notice accounts though, this can be beaten by easy access alternatives. So unless you need a solid deterrent to stop you dipping into your savings, you may be better off with a flexible, easier access account.

What is a high-yield savings account?

A high-yield savings account may sound like a complex financial product. But in fact, it’s just a savings account with a high interest rate. Many providers offer them, from UK banks and building societies to money apps and digital banks.

There are a few different kinds, including:

• Instant/easy access - this is an account which lets you deposit and withdraw your money whenever you need to, while still earning interest on the balance.
• Fixed term - these usually offer higher interest rates than easy access accounts, in return for you ‘locking away’ your money for a fixed term. For example, 1, 2 or 5 years. You can still access your money if you need it, but may pay a penalty.
• Notice savings - these accounts let you withdraw your savings, but you’ll need to give a certain amount of notice (i.e. 90 or 120 days). However, interest rates may be a little higher compared to easy access accounts.

While shopping around for a new account, you may also come across cash ISAs, regular savers and packaged bank accounts.

Advantages and disadvantages of savings accounts

Before you open a savings account, you need to be sure it’s the right option for you. Here are a few pros and cons to consider.

Advantages:

• Earn interest - helping your savings pot to grow.
• Security - most UK banks and building societies offer £85,000 FSCS protection per person.

Disadvantages:

• Minimum balance requirements - some savings accounts require a minimum deposit or for you to maintain a minimum balance.
• Access restrictions - if you pick a fixed term or notice savings account, you may not be able to access your money if you need it unexpectedly (or at least not without paying a penalty).
• Variable interest rates - some accounts, particularly easy access ones, have variable interest rates. This means that the rate could change after you sign up.

📚 Read more: How to find the best current account in the UK?

How to pick the best high interest earning savings account?

The AER interest rate isn’t the only thing to look out for when choosing a new savings account.

It’s just as important to check the access arrangements. If you urgently need access to your money, a notice or fixed term account won’t be the best choice for you.

But if you already have a financial safety net to cover unexpected circumstances, you can safely lock your money away in a fixed term account and earn higher interest.

You should also check:

• Whether your money is protected by the Financial Services Compensation Scheme (FSCS)
• The level of security offered by the provider
• Customer reviews
• How you’ll be able to manage your account, whether it’s online, via a mobile app, by phone or in branch.

Earn a return with Wise Interest

A bank account isn’t the only way to manage – or grow – your money.

The Wise account is a fantastic alternative if you send money abroad, convert between currencies, or need an easy way to spend overseas. It’s not a bank account but offers some similar features.

You can also switch on Wise Interest** which lets you earn a variable return of up to 3.74%*** on your GBP balance. Unlike a typical savings account, your money is put to work by investing in a fund that holds government-guaranteed assets. It’s an effortless way to help your money grow while still enjoying the flexibility of Wise at home or abroad.

Here’s an overview of the main benefits of using Wise:

Fast and easy setup with no physical paperwork Low, upfront, transparent fees* and the mid-market exchange rates Dedicated support for large transfers Sophisticated security and anti-fraud measures, with your money safeguarded under regulatory protections Trackable and fast transfers to countries Low-cost spending in countries with the Wise card Earn a return on your GBP, USD and EUR balance with Wise Interest**

Sign up with Wise today

**Capital at risk. In the UK, Interest and Stocks are provided by Wise Assets — this is the trading name of Wise Assets UK Ltd, a subsidiary of Wise. Wise Assets UK Ltd is authorised as an investment firm and regulated by the Financial Conduct Authority (FCA). Our FCA number is 839689. We do not give investment advice, and you may be subject to pay tax. If you're not sure, seek qualified advice. You can find more information about the funds on our website.

***Capital at risk - past performance does not guarantee future growth. Variable rate is based on 7 day performance as of 14/05/2025. This fund has returned an 1.31% annual average over the last 5 years, excluding Wise fees. For the full 5 year past performance of funds, please visit our website.

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Sources used for this article:

1. MoneySavingExpert - Top savings accounts
2. Santander - Santander Edge Saver
3. Santander - Santander Edge Current Account
4. Sidekick - Savings
5. Sidekick - Support - Is there a minimum I need to put in to open my account?
6. Atom Bank - Instant Saver Reward
7. Charter Savings Bank - Notice Account
8. West Brom - Four Access Saver (Issue 2)
9. Conister Bank - Fixed Term Deposit Account

Sources checked on 12-May-2025.