Savings round up - 20th May
20/05/2026
Rates continue to nudge up with 4.80% now being paid on 1 Year and 5 Year. This looked unthinkable as short a time ago as early February when Base Rate looked to be heading to 3.50% in the first quarter and to 3.25% or lower by the year end. Financial markets are pricing in a Base Rate of 4.25% in the next 12 months. Given this, the rates being paid by banks for fixed terms currently are excellent and with Raisin paying cashback to new savers, there's rates the equivalent of over 5% available with combined interest and cashback. We have some time to go before the next MPC meeting on 18th June, but there's currently less than a 50% chance of it increasing then which makes current rates for savers look even more favourable. As we've said before, until there's a clearer picture from the Iran War, it's hard to predict where things go from here. Here's our round up of the leading providers and rates in each category:
Chase remain best buy at 4.50% - but a huge 2% of this is via a 12 month bonus rate. Spring savings, part of Paragon Bank, launched a special edition account paying 4.30% but the maximum balance is capped at £20,000. It is open to both existing Spring savers as well as new customers. Chorley Building Society are next paying 4.27% on their Online Double Access Saver where the rate drops to 0.90% if more than two withdrawals are made in a calendar year. Cahoot stay priced at 4.17% ahead of Vida Savings, who continue to pay 4.16% on their Double Access Account, where the rate drops to 2.50% after more than two withdrawals per year. Virgin Money pay 4.16% too and their account is also limited to just two withdrawals per year. Family Building Society's Online Saver pays a competitive rate of 4.15%. Shawbrook Bank pay 4.13%, which includes a 2.13% bonus. Saga pay 4.11% but with 1.21% of this coming via a 12 month bonus of 1.21%. Cambridge Building Society's Double Access Saver, which is limited to two withdrawals after which a 120 day interest penalty applies, pays 4.10%.
BLME are the new leaders as they increase the rate on their 90 Day Notice to 4.37%. Stafford Building Society's 180 Day Notice is next paying 4.26% - however only two withdrawals are permitted per Society year. Oxbury Bank also pay 4.26% on their 180 Day Base Rate tracker which tracks the Base Rate plus 0.51%. Market Harborough Building Society pay 4.25% on their newly launched 160 Day Notice account. Perenna Bank pay 4.20% on 90 Day Notice via Raisin. Castle Trust Bank are next with their 120 Day Notice rate paying 4.20%. Chetwood Bank enter the notice market with rates of 4.19% on 100 Day Notice and 4.06% on 70 Day. Cynergy Bank is next with their 120 Day Notice rate paying 4.18%.
AlRayan Bank lead the way paying 4.36% for 6 Months via Meteor Savings. GB Bank and BLME are just behind - both paying 4.35%. Oxbury Bank improve their rate to 4.32% and Perenna Bank pay 4.31% via Raisin.
United Trust Bank pay a best buy 4.42% for 9 Months Fixed. Kuwait Finance House are next as they pay an improved rate of 4.37% via Raisin with Atom Bank paying 4.35%.
AlRayan Bank pay a best buy 4.80% via Meteor Savings to move clear at the top of the best buys. United Trust Bank increased their rate to - up to 4.75% - as did MBNA. Vanquis and Birmingham Bank's both improve to 4.74%. GB Bank and Close Brothers are tied at 4.73% with Kent Reliance continuing to pay 4.71%. National Bank of Egypt pay 4.70% via Raisin but there's up to £150 cashback available on top. A new to Raisin saver putting in £25k can achieve a total return the equivalent of 5.1%. but have now been matched by GB Bank. Recognise Bank improve their rate to 4.69% and UBL Bank continue to pay 4.68%,
Chetwood Bank pay a best buy 4.70% but United Trust Bank close the gap as they pay an improved 4.60% on their 15 Month Fixed. Skipton Building Society continue to pay 4.56% with Aldermore Bank paying 4.50%. Tandem and Tesco Bank both pay 4.45% for 18 Months. Cynergy Bank's 15 and 18 Month Fixed rates both offer 4.40%.
Hampshire Trust Bank pay a best buy 4.76%. Vanquis also improved their rate with an increase to 4.75% and Close Brothers and Hodge Bank were also on the move, both paying an improved 4.74%. GB Bank led the way last week and they nudge up to 4.73%. Kent Reliance stay at 4.71% but RCI Bank improve to 4.70% and BACB pay 4.67% via Raisin but this also comes with up to £150 cashback for new to Raisin savers. Charter Savings Bank pay 4.67% and StreamBank pay 4.65% to complete the top 10.
Oxbury Bank still lead the way but at an improved rate of 4.76%. GB Bank and Close Brothers both improved their rates too - they are tied at 4.75%. Hodge upped their rate to 4.74% and Chetwood Bank did too - to 4.73%. Kent Reliance are just behind at 4.72% with RCI Bank paying an improved 4.68% via Raisin which also comes with up to £150 cashback for new to Raisin savers.
Oxbury Bank stay top of 4 Year paying 4.58%, ahead of JN Bank who remain at 4.57%. Aldermore Bank are just behind them at 4.55% with RCI Bank paying 4.50%. There's a steep drop then to Perenna Bank's new 4 Year on Raisin which pays 4.30%.
Close Brothers pay a best buy 4.80% as they nip ahead of Hampshire Trust Bank, who pay 4.79%. GB Bank pay an improved 4.77% and Chetwood Bank also increased their rate, to 4.75%. Hodge Bank were also on the move, up to 4.73%, while last week's leader, Afin Bank continue to pay 4.72%. Aldermore Bank pay 4.60% ahead of Castle Trust Bank and JN Bank at 4.57%.