Compare savings accounts up to 4.26% AER (01/2026)

There are several types of savings accounts available in the UK, each designed to work in a different way. Understanding how they differ can help you compare savings accounts to determine which option fits your saving plans.

In this section, we’ll talk you through some of the most popular savings accounts in the UK, including easy access savings accounts, fixed rate bonds and notice accounts.

A fixed rate bond is a savings account where you ‘lock’ your money away for a set term. You can’t withdraw your money but the interest rate is fixed for the duration of the term, meaning it does not change even if interest rates move up or down. Fixed rate bond terms typically last for between one year and five years, though shorter and longer terms are available.

Easy access savings accounts allow you to withdraw your money whenever you need it (although some banks may set minimum withdrawal limits), making them a common option for emergency funds or short-term savings goals. Easy access interest rates are typically variable, which means they may rise or fall depending on a variety of wider economic factors.

Notice accounts give you the option to withdraw your money by giving your savings provider a set ‘notice’ period, typically between 30 to 95 days. They can be useful when you know you will not need immediate access to your savings but still want some flexibility.

You can narrow down the best savings account for you by answering a few simple questions. Remember that you can hold multiple savings accounts; many people choose to deposit their money across different types of savings products for their different needs. 

To help compare savings accounts, here’s an overview of which account types best match some of the most common savings goals. 

Your opening deposit can influence which type of account you choose.

Many financial experts suggest building an emergency fund first. This is typically held in an account with instant access, so funds are available if needed.

Your short-to-mid-term savings goals may be best served by an account that balances access and interest, while money you can comfortably live without (even in an emergency scenario) could be placed into a high interest fixed rate bond. 

FSCS deposit protection covers up to £120,000 per person, per bank. If you plan to deposit more than that, you may wish to spread your money across multiple banks. 

If you have an overall savings goal of over £120,000, saving across multiple accounts with different banks can help you stay within FSCS deposit protection limits.

You may want to consider tax on saving accounts too. As of 2025/26, the UK personal savings allowance for basic-rate taxpayers is £1,000 (£500 for higher-rate taxpayers). While ISAs allow you to save tax-free, this tax-free status only applies to a yearly allowance of £20,000.

Savings rates can vary widely across the UK, so comparing savings accounts can make a meaningful difference. Raisin UK brings together a broad range of savings products from partner banks, making it easier to compare savings accounts (including interest rates and account features) in one place.

All savings accounts available through Raisin UK are offered by partner banks and are protected under the Financial Services Compensation Scheme, or the relevant European deposit protection scheme, up to £120,000 per person, per bank institution.

Once you’ve found an account that suits you, simply log in or register for a Raisin UK Account online or via our app, and follow the steps to apply for your chosen account. If you have any questions, our Customer Service team will be happy to help.

People use savings accounts for many reasons. Sometimes, someone will open a savings account just to earn interest on their money. Other people may have more specific goals in mind, including: