Top accounts ranked by AER. Confirm live rates with the provider.
| Provider | Product | Rate (AER) | Access | FSCS | Action |
|---|---|---|---|---|---|
| Chase UK | Chase Saver | 4.50% | Instant access | Yes | Compare |
| Virgin Money | 1 Year Fixed Rate Cash ISA | 4.22% | Locked term | Yes | Compare |
| Monzo | Instant Access Savings Pot | 3.90% | Instant access | Yes | Compare |
| Nationwide | FlexDirect Regular Saver | 3.75% | Instant access | Yes | Compare |
| HSBC | Online Bonus Saver | 3.35% | Restricted access | Yes | Compare |
Annual Equivalent Rate (AER) shows the yearly return if interest were compounded once per year. It lets you compare accounts that pay monthly, quarterly or annually on the same basis.
A higher AER usually means more interest on the same balance, but check access rules, bonus conditions and whether the rate includes an introductory boost that expires.
Start with AER, then compare access (instant, notice or fixed term), minimum deposit, maximum balance caps and whether withdrawals trigger a rate penalty.
Pair the rate with FSCS eligibility for cash deposits, and confirm whether the account is a standard savings product or sits inside an ISA wrapper for tax-free interest.
Use tables to shortlist providers, then verify the live rate and terms on the bank's website before opening an account.
The Financial Services Compensation Scheme protects eligible deposits if an authorised UK firm fails. The limit is typically £85,000 per person per firm (joint accounts can have higher combined cover).
Not every product is covered in the same way — investments held on a platform are treated differently from cash in a savings account. Always check FSCS eligibility on the provider's documentation.