July 2020: what are the best savings account rates?

We share the best interest rates on Isas, bonds, and easy-access savings accounts.

Savers are piling cash into easy-access accounts. The average rate is at a record low of 0.24%, according to data analysts Moneyfacts, down from 0.59% at the start of the year.

However, you can do a lot better by choosing the best accounts. National Savings & Investments (NS&I) pays a top rate of 1% on its Direct Saver. Its Income Bonds, variable rate, pay out interest each month and is currently 1.15%. 

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For fixed-rate bonds, the average rate for one year is 0.71%. The top rate is via newcomer Allica Bank at 1.05%, followed by ICICI Bank, through the Raisin.co.uk savings platform, at 1%.

Even if you tie up your money for two years, you can earn only a top rate of 1.2% through Allica Bank, or 1.05% through RCI Bank. 

On cash Isas, fixed rates are even lower, with a top 0.7% for one year from Yorkshire Building Society or Metro Bank. For two years, the best rate is 0.8% via the Yorkshire. 

The best easy-access cash Isa rate is 0.9% through National Savings & InvestmentsDirect Isa. However, you can’t transfer your existing cash Isas into this account.

For transfers, you can earn 0.8% through Leeds Building Society’s Double Access Isa, but you are limited to two withdrawals a year.

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Excellent Website

I've just come across your website and was pleasantly surprised at the straight forward, no frills, information provided with regard to easy access savings accounts. Well done and thank you.


Really helpful and quick to access the information I was seeking. Thank you

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If you have a Marcus account that is nearing the end of its bonus period it is possible to reset it for another year. Just go to Account Activity Details and scroll down past all the transactions to the 'Review your savings' link.

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