Best savings rates this week

Last updated: Nov 24th, 2015
Feature by Tom Wilson

In this article, Moneywise reviews regular, children's savings, fixed-rate and instant-access accounts with the best savings rates currently on the market.

If you haven't used your cash Isa allowance this tax year, then getting an Isa should be your first port of call, check our round-up of the best cash isa rates.

Find the best Cash Isa or savings account for you


If you're looking for an account where you can access your money quickly, then a no-notice deal is a good idea.

Just remember, the interest rate on these accounts is variable so it could decrease down the line.

Also, watch out for sneaky terms and conditions - not all instant access accounts offer unlimited withdrawals, so shop carefully. 

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If you want to make withdrawals but are happy to give your bank or building society notice before you do, then you could get a better rate with a notice account, although recently rates have been disappointing.


Fixed-rate savings accounts are normally aimed at people with a lump sum that they wish to lock away for a pre-agreed period of time.

Interest is fixed so your return is guaranteed. However, bear in mind that withdrawals and further deposits are rarely allowed.


One year/18 months:

Two year:

  • Shawbrook's Two Year Fixed Rate Bond (issue 34) pays 2.45% AER on balances between £1,000 and £2,000,000. You can open the account online or by post. 
  • Challenger Fidor Savings Bank pays 2.4% AER over two years on its online-only fixed rate bond. Note your savings aren't guaranteed by the Financial Services Compensation Scheme - instead it's covered by the German equivalent, which means deposits of up to €100,000 are protected. You can save between £100 and £100,000. 
  • RCI Bank 2 Year Fixed Term Account pays 2.35% AER on balances between £1,000 and £1,000,000. It’s online only. 



  • Agri Bank 5 Year Fixed Rate Savings Account offers savers 3.15% AER. The account can be accessed online only. It requires an initial investment of £5,000.
  • Secure Trust Bank 5 Year Fixed Rate Deposit Account  will pay 3.05% AER for 60 months. You’ll have to deposit between £1,000 and £1,000,000 and no early access is allowed. It’s only available online.
  • United Bank UK pays 3.04% AER on balances between £2,000 and £1,000,000. It’s available in branch, by post or online. You’ll need to be sure you won’t need access to the money, as no early withdrawals or closures are permitted. 


The current economic backdrop has not only highlighted the importance of saving, but means more people would like to do it little and often.

  • First Direct Regular Saver pays 6% AER on deposits between £25 and £300 per month. The rate is fixed for 12 months and is only available to existing customers.
  • M&S Bank’s Monthly Saver offers 6% AER on deposits between £25 and £300 to its current account holders. The interest is paid annually, and the rate is fixed for 12 months. After this, the money will either be transferred to your current account or transferred to the everyday savings account, which pays 0.35% AER so you’ll need to make a note in your diary to switch in a year.
  • The TSB Monthly Saver returns 5% AER on monthly deposits between £25 and £250. The rate is fixed for 12 months and withdrawals have to be paid into a TSB current account, so you’ll need to bank with it already. Unlike M&S Bank and First Direct, TSB offer instant access to your savings without penalty.  


  • Halifax Kids Regular Saver offers a market-leading 6% AER 12-month bond. You can deposit between £10 and £100 in the account each month.  
  • Nationwide FlexOne Regular Saver pays a fixed headline rate of 3.5% AER on investments of  up to £100 per month to children between 11 and 17. The bond can be managed in branch, online or by phone. There’s no access limitations, though you’ll need to be an existing customer.
  • Dudley Building Society’s Junior Easy Saver pays 3.5% AER on balances over £10, up to the age of 15. At this point, you’ll be transferred to the instant-access Junior Saver, which pays 1.75% AER.

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