Looking for the best high street interest rates?

If you’re looking for a competitive savings account, you’ve probably found yourself scouring the internet in search of the best high street interest rates. But what if we told you that even the best high street savings rates can be beaten? While the rates on savings accounts offered by familiar high street banks have dropped sharply over recent years, the partner banks at Raisin UK continue to help savers to boost their savings with competitive rates. 

On this page, we’ve listed the top rates for one, two, three and five year fixed rate bonds available through our marketplace and compared them to the top rates at up to eight high street banks*. See how much more you could earn from your savings by switching to Raisin UK.

*The rates offered by Barclays, The Co-operative Bank, Halifax, HSBC, Lloyds TSB, Nationwide, Santander or Tesco Bank that are displayed on this page are correct as of 20 November 2023. While we make efforts to update this page regularly, please be aware that the rates listed on this page may have changed since this page was last updated. Raisin UK does not offer financial advice, we provide a range of information to help you plan your own finances.

Whether you’ve got £1 or £1 million, it’s important to make the most of your savings – especially with inflation at a record high. In most cases, this usually means searching for an account with a competitive interest rate that meets your needs. 

Many people still look to well-known high street banks when searching for a savings account. If you do choose this route, a comparison tool can help you find the best high street interest rates available. The best savings account for you is usually the one that helps you meet your savings goals while offering a generous return on your investment. 

Before choosing a savings account, it’s important to do your own research. The key considerations outlined below contain important information that might help.

• Will you need to access your money? 
• How much interest will you earn?
• Does the method of interest work for you?
• Does the account have any restrictions?
• Will you need to pay tax on any interest earned?
• Have you compared savings accounts from across the marketplace?

Whether you’re looking for a fixed rate bond, notice account or an easy access savings account, these points can help you choose a product that suits your needs. Just bear in mind that high street banks may not offer the best interest rates. 

The good news is that if you’re prepared to look beyond the familiar banks, you’ll find plenty of providers offering competitive interest rates across a wide range of savings products.

When comparing savings accounts you might be wondering whether small variations in interest rates really matter. Can a difference of less than 1% have a significant impact on your bank balance?

It might seem small, but it can make a big difference to how much you earn from your savings. In the example below**, you’ll see how depositing £10,000 into one, two, three and five year term fixed rate bonds with an illustrative rate difference of 0.50% AER makes a big difference to how much you’ll earn.

**This example, using non-compounding rates, is purely illustrative and should not be viewed as indicative of the returns of any specific financial product or as financial advice. Please read individual product terms for the details of how interest is calculated and paid.

This example shows how much of a difference as little as a 0.50% difference in interest rate could make to you if you deposited £10,000. Imagine how much a difference it could make if the interest rate or amount of your deposit was higher.

Most likely, yes. With some high street banks paying as little as 0.01% on certain savings accounts, switching to an alternative provider could be one of the best financial decisions you make.

Fixed rate bonds tend to offer the most competitive interest rates as they require you to lock your money away, typically for one, two, three or five years. Even then, the best high street interest rates may pale in comparison to those offered by alternative providers. To demonstrate this, we’ve compared our highest-paying one, two, three and five year fixed rate bonds against the best interest rates offered by some familiar high street banks.