10 top inflation-busting savings accounts

16 April 2014

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.


Add new comment