Who is offering the best fixed savings rate?

Savings rates are still good compared to the pre-covid pittance on offer. Chetwood bank offer 4.5% on their 6 month fixed rate bonds. Atom Bank are currently offering the best instant access saver, at 4.75% but if Andrew Bailey reduced the Bank of England base rate, this will likely fall. If you’re worried about the FSCS protection limit, a good financial adviser can manage your cash and spread it across many banking licences and get you a good return for a small fee.

Savvy savers can still access competitive returns across all time frames. For short-term fixes, Oxbury Bank leads with 4.62% for six months and 4.61% for three, while GB Bank offers 4.5% with added flexibility on interest payment. These are ideal for those seeking returns without locking money away long-term. For two-year terms, DF Capital leads at 4.44%, with GB Bank and JN Bank close behind—JN notably allowing deposits from just £100. On three-year fixes, DF Capital again offers the top rate at 4.43%, slightly ahead of GB Bank and Birmingham Bank. Among established brands, Leeds Building Society offers 4%, and NS&I, backed by HM Treasury, provides up to 3.88%. With rates edging down, now may be the time to act. Savers should align rate, term, and provider strength with their needs and avoid letting cash stagnate in low-interest accounts. Even short-term fixes offer strong value in today’s market.

Savers should currently be aiming for around 4.5% on a decent fixed-rate savings account, although rates are slightly lower for fixed-rate Cash ISAs.

For competitive rates, it’s hard to beat Castle Community Bank, which is offering an excellent 4.59% on a one-year fixed-rate bond. For basic-rate taxpayers, this comfortably keeps savings ahead of the current 3.6% inflation rate.

The rate dips slightly to 4.38% for a three-year fixed bond, but this remains one of the best rates available and reflects market expectations that interest rates will fall in due course.

For those willing and able to lock their money away for longer, Close Brothers are offering 4.35% on a five-year fixed-rate bond, providing a solid option for savers seeking longer-term certainty.