10 top inflation-busting savings accounts

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Over 150 savings accounts will now beat inflation, following a dip in inflation from 1.7% to 1.6% in March 2014.

The 0.1 percentage point fall in the Consumer Prices Index (CPI) means that basic-rate taxpayers now need to find a savings account paying a gross 2% in order to beat inflation; while a higher-rate taxpayer needs to get their hands on an account paying 2.67% to maintain the spending power of their savings.

There are currently 159 savings accounts that will do this, according to Moneyfacts, including 88 tax-free cash Isas (where savers only need obtain a rate of 1.6%).

This is a "significant" improvement on this time last year, Moneyfacts added, when just seven accounts - all cash Isas - could beat inflation of 2.8% at the time.

Moneywise asked savings expert Andrew Hagger for his pick of the best inflation-busting savings accounts and Isas:

Find the best cash Isa or savings account for you

Savings accounts:

  • Shawbrook Bank 18 month fixed rate bond, 2.05%
  • ICICI HiSave 3 year fixed rate bond, 2.70%
  • Close Brothers premium gold 3 year fixed rate bond, 2.70%
  • Shawbrook Bank 5 year fixed rate bond, 3.10%
  • First Save 7 year fixed rate bond, 3.50%


  • Metro Bank Instant Access, 1.65%
  • Tesco Bank 1 year fixed rate Isa, 1.65%
  • Halifax 2 year fixed Isa, 2.00%
  • Nationwide BS 2 year fixed Isa, 2.05%
  • Coventry BS 4 year fixed Isa, 2.75%


"Falling inflation is long overdue good news for savers as it softens the blow of rock-bottom interest rates, but it's still a pretty dismal situation for those seeking an income from their nest egg," Hagger said.


Your Comments

When interest rates match RPI then we will just be breaking even.
However all that QE means that we will be waiting a long time. The banks don't want our money.

How is it that when looking around for good onterest rates, the best is about 3%.  Yet Kids can get 6%??