By Salma El-Sakka
UK savers can earn up to 5% on instant-access accounts this November, with the Bank of England expected to raise interest rates further before February. A roundup of the best easy-access savings accounts and cash ISAs shows where money can earn the most interest, though rates are subject to change and savers should verify current terms before opening an account.
Easy-access savings accounts
The top two easy-access rates remain 5% from Lemfi and Cahoot. Lemfi offers 5% with a six-month bonus, dropping to just over 3% afterwards; the account opens with £1, allows unlimited withdrawals, and pays interest monthly. Cahoot’s Sunny Day Saver pays 5% for 12 months on balances up to £3,000, with withdrawals allowed as needed.
Zopa offers 4.56% for new customers, falling to 3.5% for existing account holders, but limits withdrawals to three per year. Tembo’s HomeSaver pays a variable 4.55%, rising to 5.5% for those saving for a home purchase and using Tembo’s mortgage service, with no withdrawal restrictions. Chase continues to offer 4.5% with unlimited deposits and withdrawals for 12 months, and savings count toward the £1,000 threshold for current-account cashback.
Cash ISA rates
Cash ISAs shield interest from tax. The government has cancelled plans to cut the annual cash ISA allowance from £20,000 to £12,000. Trading 212 leads with 4.77% for new customers using a promotional code, followed by Chip’s Smart ISA at 4.75%, Plum at 4.66%, and Ecology Building Society at 4.65%. Terms vary: some rates apply only to new customers or new money within the tax year, and withdrawal limits differ — Ecology allows just two withdrawals per year before closing the account.
