The Bank of England base rate currently stands at 5.25%, the highest rate since March 2008, which has seen savings interest rates increase after years of low returns on cash. 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 Spotlight
Get 5.17% (AER Variable) with the Plum Cash ISA
Earn 5.17% (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
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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 | Monthly pay in amount | Easy access | Bank's current account required | |
| Principality | 8.00% | 6-Month Regular Saver | £0 - £200 |  | |
| First Direct Regular Saver | 7.00% | Regular Saver | £25 - £300 | |  |
| The Co-operative bank | 7.00% | Regular Saver | £0 - £250 | | |
| Skipton Building Society | 7.00% | Regular Saver | £1 - £250 | | |
| Nationwide Flex Regular Saver | 6.50% | Regular Saver | £1 - £200 | | |
| Club Lloyds Monthly Saver | 6.25% | Regular Saver | £25 - £400 | | |
| NatWest Digital Regular Saver | 6.17% | Regular Saver | £1 - £150 | | |
| RBS Digital Regular Saver | 6.17% | Regular Saver | £1 - £150 | | |
| Halifax Regular Saver | 5.50% | Regular Saver | £25 - £250 | | |
| Halifax Kids’ Monthly Saver | 5.50% | Regular Saver | £10 - £100 | | |
| Gatehouse Bank | 5.30% | Regular Saver | £1 - £300 | | |
| Yorkshire Building Society - Regular e-Saver | 5.25% | Regular Saver | £1 - £250 | | |
| SmartSave 1 Year Fixed Rate Saver | 5.24% | 1-year Fixed Rate Bond | £10,000 (min initial deposit) - £85,000 | | |
| Plum* | 5.17% | Easy Access Cash ISA | £100 | | |
| Barclays Rainy Day Saver | 5.12% | Regular Saver | £1+ | | |
| Chip Cash ISA* | 5.10% | Easy Access Cash ISA | £1+ | | |
| Zopa Smart ISA | 5.08% | Easy Access Cash ISA | £1 | | |
| Newcastle Building Society | 5.00% | Single Access Cash ISA | £1 | | |
| Santander Regular Saver | 5.00% | Regular Saver | £200 | | |
| HSBC Regular Saver | 5.00% | Regular Saver | £25 - £250 | | |
| Nationwide FlexDirect account | 5.00% | Current account | £1,000 | | |
Correct at 02/07/2024
Partner Spotlight
Get 5.17% (AER Variable) with the Plum Cash ISA
Earn 5.17% (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
Provided by our partner
Find out more*
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 account jointly
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
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
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 applicants
Yorkshire Building Society Regular e-Saver - 5.25%
The Yorkshire Building Society Regular e-Saver allows existing Savings or Mortgage customers to earn 5.25% interest on their savings for 12 months. The interest rate is however variable and can be changed at any time by Yorkshire Building Society but it says it will notify customers prior to changing the rate.
You can save a maximum of £250 per month in the Yorkshire Building Society Regular Saver. You can access your money on two withdrawal days per year. Once the account matures the money will be transferred to a nominated bank account or building society. Interest is calculated daily and paid on account maturity.
Who is eligible for the Yorkshire Building Society Regular e-Saver?
- Must be a minimum of 16 years old
- Must be a UK resident
Smartsave 1 year fixed rate saver - 5.24%
The SmartSave 1-year fixed rate saver offers an interest rate of 5.24%. The account can be opened with a minimum of £10,000 and you can deposit a maximum of £85,000. No further deposits can be made after 14 days and you cannot access your savings during the fixed term.
Who is eligible for the SmartSave fixed rate saver - 5.24%
- Must be at least 18 years old and a UK resident subject to UK tax only
- Only offers sole savings accounts, meaning you cannot hold the savings account jointly with someone else
- Funds must be deposited within 14 days of opening the savings account (You’ll be unable to make any further deposits after this period)
- The minimum amount that must be deposited is £10,000
- The maximum total amount that may be deposited is £85,000
Plum* - 5.17%
Plum's easy access Cash ISA*offers an interest rate of 5.17%. This is currently the best interest rate on the market for Cash ISAs. It's available to customers who open a new Cash ISA with Plum and maintain a minimum balance of at least £100 at all times. You can make up to three withdrawals during the promotional period without losing your bonus rate as well. If more than three withdrawals are made, or your balance falls below £100, you'll earn a 3% interest rate instead. You can't earn the 5.17% interest rate if you transfer a cash ISA from elsewhere. Instead, you'll earn 4.29% for transfers.
Who is eligible for the Plum Cash ISA?
- Must be a UK resident
- Must be 18+
- Minimum balance of £100 for 5.17% rate
- Can only open and manage Cash ISA via the Plum app
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
Chip Cash ISA* - 5.10%
The Chip Cash ISA* offers a variable interest rate of 5.10% AER and allows you to earn interest monthly on a tax free basis. Your annual limit across your ISA accounts is £20,000. Chip's Cash ISA is flexible and also allows unlimited withdrawals without impacting the interest rate. Chip's ISA is provided and managed by ClearBank and so your funds are FSCS-protected.
If you deposit £20,000 when you open your account, keep your funds in there, and Chip doesn't change its interest rate, then you could receive £1020 in tax free interest at the end of the 12 months.
Who is eligible for a Chip Cash ISA?
- Must be a UK resident
- Must be 18+
Zopa Smart ISA - 5.08%
With Zopa's flexible Smart ISA, you can earn a variable rate of 5.08% AER. The rate includes a 0.50% AER bonus which is available until April 6, 2025. You can get started with a minimum investment of £1 and you can withdraw your money as and when you need to without losing the variable interest rate.
Who is eligible for a Zopa Smart ISA?
- Must be a UK resident
- Must be 18+
- Must have an active UK bank account Zopa can link to
- Joint accounts are not allowed
Newcastle Building Society - Single Access Cash ISA - 5.00%
Newcastle Building Society's ISA comes with 5% interest which applies as long as you don't make more than one withdrawal within each anniversary year. If you make more than one withdrawal, you'll receive an interest rate of 2.90% AER instead. You can open this account with just £1 and can invest up to £20,000 per year tax-free. If you invest £1,000 when you open the account, you'll have £1,050 at the end of the 12 months assuming the interest rate doesn't change and you don't make any withdrawals.
Who is eligible for a Newcastle Building Society Cash ISA?
- Open in branch or online
- Must be a UK resident with indefinite leave to remain
- Must be 18+
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
Shawbrook Easy Access Account - Issue 37 - 5.00%
The Shawbrook easy access bank account offers a variable interest rate of 5%. The account can be opened with a minimum of £1,000 and you can deposit a maximum of £85,000 for sole accounts or £170,000 for joint accounts. You cannot access your savings during the fixed term.
Who is eligible for the Shawbrook Easy Access Account - 5.00%
- Must open account online
- Must be 18+
- Must be a UK resident
- Must provide a UK bank account as a nominated account
- Minimum account opening balance of £1,000, maximum account balance of £85,000 for sole accounts and £170,000 for joint accounts.
HSBC Regular Saver - 5.00%
HSBC's Regular Saver allows you to earn 5.00% 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 £3,081.25. With an HSBC Regular Saver, you cannot access money for 12 months to benefit from the rate but you can close the account early. If you choose to close the account early you will only receive the flexible saver rate which is currently 2.00%.
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
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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