2026 Savings Market Summary

About these figures: savings market figures in this article come from Moneyfacts, which tracks most but not all UK savings accounts, and were checked in September 2026. Averages are market averages across all accounts Moneyfacts tracks, not best-buy rates. Rates change often, so check current rates before choosing an account.

The number of savings accounts available in the UK reached a record high in 2026. According to Moneyfactscompare, there were 2,642 savings accounts and cash ISAs on the market at the start of September 2026, the highest on its records.

More choice hasn't closed the gap between average and top rates. Based on Moneyfacts data published on 10 September 2026, the average easy-access account paid 2.53% AER and the average one-year fixed-rate bond paid 4.28% AER. On Moneyfactscompare's easy-access table (updated 25 September 2026), the five highest easy-access rates ranged from 4.30% to 5.00% AER.

Several of those top easy-access rates included an introductory bonus lasting six to 12 months, so the rate paid falls once the bonus ends. Check the rate without the bonus and when the bonus expires before comparing accounts.

Bank of England data shows individuals held £283.2 billion in instant-access (sight) deposits paying no interest in July 2026, including current account balances (Bank of England, series LPMZOD3).

How savings rates compare with Bank Rate and inflation

At its latest decision on 5 November 2026, the Bank of England raised the Bank Rate from 3.75% to 4%. The next decision is due on 17 December 2026. The Bank Rate isn’t the rate you’ll get on products like a credit card, mortgage or savings account, but it influences them.

Average savings rates tracked by Moneyfacts have generally risen during 2026. Between February and September 2026 the average easy-access rate went from 2.41% to 2.53%, and the average one-year fixed rate went from 3.81% to 4.28%.

CPI inflation was 3.1% in the 12 months to August 2026 (ONS). That puts the average easy-access rate 0.57 percentage points below inflation, while the average one-year fixed rate was 1.18 percentage points above it. Interest above your Personal Savings Allowance (£1,000 for basic-rate taxpayers, £500 for higher-rate and £0 for additional-rate) is taxable, which affects the real return.

Older and closed accounts

In July 2024, Moneyfacts found that the average rate on easy-access accounts still open to new customers was higher than the average rate on closed accounts that existing customers were still in. Rachel Springall of Moneyfacts said at the time: "Savers must shake any apathy they have to move their pots, otherwise they will be left disappointed when their loyalty is not rewarded." (Moneyfacts, 15 July 2024)

Protection for your savings

Eligible deposits are protected by the Financial Services Compensation Scheme up to £120,000 per person, per authorised bank, building society or credit union. Brands that share a banking licence share one limit.

Read more:

• Savings Accounts Guide

• Average Household Savings & Wealth UK