Where should you move your money? Best savings accounts for April 2025
Right now, money in the right bank accounts can offer more than just safety. With the Bank of England (BoE) Base Rate currently set at 4.5 per cent, and inflation officially recorded at 2.8 per cent, we're in a rare period where your cash savings can generate inflation-beating returns.
If you'd like to take advantage of this window of opportunity, we've collated some of the highest-earning accounts for a range of different circumstances. You can choose between an easy-access account, fixed-term account, or notice account as your needs demand. Rates and accounts are correct at the time of publication but subject to change at any point.
Best easy-access savings accounts
If you'll need to withdraw your money in the next few months – or if you're not sure when you'll need it – an easy-access account might be best for you. These won't penalise you for making a withdrawal, or make you wait to do so.
One of the highest interest rates available is from the Charter Savings Bank Easy Access Account, at 4.59 per cent. You can pay in or withdraw any time you like, without affecting that rate.
Another is the Kent Reliance Easy Access Savings Account (Issue 80), offering 4.5 per cent on deposits over £1,000. Or, if you feel more comfortable with a household name brand, the Post Office Online Saver is offering 4.4 per cent interest for the first 12 months.
Best limited-access savings accounts
If you only need the freedom to make a few withdrawals across the year, there are various options that might work out more profitably for you than a true easy-access account.
One of those is the Monument Limited Access Saver, with an interest rate of 4.75 per cent. You can make up to three withdrawals without affecting that rate, but once you make a fourth withdrawal, the rate drops to 4.25 per cent. Note, also, that the minimum savings amount is £25,000.
The Vida Bank Defined Access Issue 1 account offers interest at 4.63 per cent, as long as you make no more than four withdrawals across the year. After the fifth withdrawal, it drops to 2.5 per cent.
Another interesting option is the Atom Bank Instant Saver Reward. With this account you'll earn interest at 4.75 per cent, but only in the months where you don't make a withdrawal. If you do make a withdrawal, your rate for that month drops to 3.0 per cent.
Best fixed-term savings accounts
Easy-access and limited-access accounts, such as those we've listed above, typically have variable interest rates, which can drop at any time. The advantage of a fixed-term savings account is that you can be sure you'll earn the advertised rate across the full period you sign up for.
As most industry experts expect interest rates to fall over the coming year, the best deals for fixed-term savings accounts are currently for the shortest periods (e.g. one year). These include:
Cynergy Bank 1 Year Fixed Rate Bond at 4.65 per cent
Vida Bank 1 Year Fixed Rate Bond at 4.40 per cent
Charter Savings Bank 1 Year Fixed Rate Bond at 4.31 per cent
Nationwide 1 Year Fixed Rate Online Bond at 4.15 per cent
Best notice savings accounts
Several banks are currently offering more generous interest rates to people who plan to make withdrawals but won't need immediate access to their cash. The rates tend to get more generous the longer you're able to wait.
For example, Charter Savings Bank offers 4.6 per cent interest for a 30-day notice account, 4.65 per cent for 60 days, and 4.70 per cent for 95 days. Oxbury, similarly, offers 4.65 per cent for 35 days or 4.85 per cent for 120 days.
Those with £25,000 to save can access great rates with comparably short notice periods from Monument, such as 4.34 per cent interest for a seven-day notice account.
Note, however, that notice savings accounts often track the BoE Base Rate. This could fall as soon as next month, as the next decision will be made on 8 May 2025.
Best Cash ISAs
With interest rates as high as they are, some savers may find that their annual interest will exceed the personal savings allowance, requiring some tax planning. Whether a Cash Isa is the most tax-efficient choice for you depends on what other income and investments you have, so consider this carefully.
If you do opt for a Cash Isa, two strong contenders are the Tembo Cash Isa at 4.80 per cent interest and the Trading 212 Cash Isa, with a rate of 4.50 per cent - though readers at The Independent can still benefit from a promotional rate to earn 4.9 per cent including a 12-month bonus.
When investing, your capital is at risk and you may get back less than invested. Past performance doesn't guarantee future results.
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