Regular savings rates fall - and you need to keep your eye on the small print
For this week's guide, Anna Bowes, personal finance expert from The Private Office, looks at where rates are falling...
Savings rates have resisted the Bank of England's base rate cut in recent weeks, but the top rates on offer have now begun to fall - and the terms and conditions for some of them have changed.
Atom Bank's Instant Saver Reward account, for example, is offering the top rate at 4.75% AER, but if you make a withdrawal, the rate falls to 2.5% for the month that follows.
"It's important to double-check the small print, as many of the top rate accounts have either restricted access to the cash, which means that if you make some or too many withdrawals, you could earn less interest than you were expecting - or there may be a short-term bonus," Bowes says.
Here are the best rates available...
Fixed-rate bonds
The fixed-rate bond market looks different, with rates across all terms increasing slightly as markets expect no changes to be made to the base rate for a while.
While the new rates are only marginally higher, it does mean that savers have more inflation-beating options to choose from.
"Choosing a longer-term bond could be a way of hedging against any further base rate cuts that are still expected to happen over the next year or so," Bowes adds.
Here's a look at the best rates available. All of these accounts can be opened online and can't be accessed during the term...
Easy access cash ISAs
Unlike fixed-rate cash ISAs, which haven't changed over the past week, competition is fierce among easy access cash ISA providers.
Yet a few rates have been cut this week, which may indicate the start of a lull.
The top easy access ISA is 4.85% with Plum, while a week ago Chip was offering 4.99% on its Chip Cash ISA. Those who opened the account before this latest rate cut will still continue to earn the higher rate - for the time being at least.
"Currently it would appear that the best paying cash ISA on the market is the Moneybox Cash ISA, paying 5.46%. But this rate includes a bonus of 1.51% for just three months, after which the rate will fall to 3.95% - this account also restricts the number of penalty free withdrawals," Bowes explains.
"The advice would be to check the interest you are earning on your savings and switch, where possible, if you can improve your returns - but watch out for any tricks that might catch you out."
Here are the best rates on the market...
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Auto Blog
an hour ago
- Auto Blog
Tesla Just Bucked An EV Trend In Europe, And It's A Huge Problem For The Company
Tesla will use its Model Y as a launching platform for its robotaxi tech Sales of EVs are up in Europe, but Tesla's numbers are dropping fast Sales of EVs are up in Europe, but Tesla's numbers are dropping fast Tesla's reputation has taken a significant hit since January, when CEO Elon Musk created the DOGE task force, billed as a means to decrease spending across the United States government. In doing so, Musk damaged his standing with the public, which has carried over to Tesla. New data shows that Tesla's reputational hit is not limited to the United States, as sales in Europe are down for Tesla amid a surging electric vehicle market. 2025 Ford Maverick: 4 reasons to love it, 2 reasons to think twice Watch More According to the European Automobile Manufacturers' Association, sales of battery electric vehicles across the European Union (EU) increased by 26.4 percent in 2025 compared to 2024, year-to-date. Tesla registrations in the EU have declined by 46.1 percent through April 2025, with a 52.6 percent year-over-year decrease in April alone. Tesla store in Austin, Texas — Source: Tesla Tesla by the numbers For 2025 (January through April; all figures are year-over-year comparisons), Tesla has sold 41,677 units. In the same period in 2024, Tesla registrations (sales) were 77,314 units. If this downward trend continues, Tesla will be one of the five worst-selling brands in the EU by mid-2025. In April alone, Tesla only sold 5,475 vehicles in the EU. Though the European Automobile Manufacturers' Association didn't break out its data by month, it's easy to conclude Tesla sales have been in decline since the beginning of the year. If April were a 'normal' month, Tesla would have sold about 22,000 vehicles in the EU. Expanding the scope doesn't help much. In the EU, the UK, and across the European Free Trade Association (EFTA), which includes Iceland, Liechtenstein, Norway, and Switzerland, Tesla sold 61,320 vehicles compared to 100,255 in the same timeframe in 2024, representing a 38.8 percent decline. In April, Tesla sold 7,261 vehicles, down from 14,228 last year, signaling a 49 percent drop. Autoblog Newsletter Autoblog brings you car news; expert reviews and exciting pictures and video. Research and compare vehicles, too. Sign up or sign in with Google Facebook Microsoft Apple By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. EV sales in the EU are up Battery-electric vehicle sales in the EU from January through April 2025 are up 26.4 percent, which is the same percentage decline for ICE vehicles, suggesting that Europe is embracing the concept of replacing combustion engine vehicles with EVs. France and Estonia were the only countries to experience a decline in EV registrations year over year. EVs account for only 15.3 percent of the market in the EU, trailing behind petrol vehicles (28.6 percent) and hybrids (35.3 percent). Though total car sales dipped 1.2 percent year to date, EV sales were up 3.3 percent. Diesel and petrol sales have dropped over ten percent year over year. Tesla Model 3 Performance — Source: Tesla Final thoughts As Elon Musk quietly slips away from his work in government, the damage done to Tesla may be irreversible. Less than ten percent of overall Tesla sales occurred in one out of four months in 2025, which is an indicator that Tesla is a brand non grata in Europe and sales are declining sharply every month. Upstart Chinese automaker BYD, a brand some consider Tesla's main existential threat, outsold Tesla in the EU in April by about 60 cars, according to data from analyst firm JATO. BYD doesn't have a vehicle in the top 10, according to JATO, but both of Tesla's main vehicles – the Model Y and Model 3 – saw sales decline 49 percent and 41 percent, respectively. About the Author Nate Swanner View Profile
Daily Mail
an hour ago
- Daily Mail
Trump's bravado has totally backfired. China has the President right where it wants him - for one devastating reason: DOMINIC LAWSON
'Ladies and gentlemen, Britain is back on the world stage.' This, preposterously, was how Sir Keir Starmer addressed European leaders at an event in London to mark his dismal deal with Brussels last month. But today our capital really will be the stage on which global attention is focused: representatives of the governments of China and the US – including Donald Trump 's Treasury Secretary Scott Bessent – have flown in for negotiations designed to defuse the trade war between the world's two mightiest economic powers.
Daily Mail
an hour ago
- Daily Mail
Jeff Bezos and Lauren Sanchez 'dial down the bling' on Venice wedding after furore around THAT all-female space flight... but it'll still cost nearly £10m, ALISON BOSHOFF reveals
The eyes of the world will inevitably be on Venice later this month when financial colossus Jeff Bezos marries fiancee Lauren Sanchez. Everyone in the Italian city is expecting a staggering display of wealth from Amazon-founder Bezos, with money to burn, and Ms Sanchez, who looks like she enjoys lighting the match. And yet, despite the huge wealth and profile of the couple and their celebrity guests, it can be revealed that this will be a publicity-shy and surprisingly small event. Modest, even. With fewer than 200 guests – a fraction of what was expected – and a final bill which is said to be less than £10million, it is clear that the bride and groom are dialling down on the bling. As an impeccably placed source tells me: 'The wedding has had a make-under.' Indeed, the event is going to cost the equivalent of loose change for the groom, who is worth $220billion and spends $34million a year just to run his yacht – the $500 million Koru. The yacht will be moored at San Basilio – the closest the giant vessel can get to the centre of Venice due to regulations to protect the city's fragile ecosystem – and be in sight of the Hotel Cipriani, where many guests will be lodged. It's thought Jeff, Lauren and their immediate families will stay on the nine-bedroom yacht. Other guests will be split between the Cipriani and Aman hotels nearby. The only famous couple definitely going are actor Orlando Bloom and his wife Katy Perry. Kris Jenner and Kim Kardashian are invited, but their attendance has not been confirmed. Instead, the guests of honour will be Bezos' mum, Jackie, who had Jeff when she was 17, and his adoptive father and life-long inspiration, Mike Bezos. The island of San Giorgio Maggiore will potentially be the destination for the couple's nuptials The couple loaned him $245,000, their life savings, to start Amazon in 1995 and Mike, who now runs the Bezos family foundation, is a particularly impressive individual, having emigrated to the US alone from Cuba aged 16. So why the – relatively – humble plans? I understand part of the reason was the PR disaster of the all-female Blue Origin 'space flight' in April – when Lauren and her five crew, including Perry, donned skin-tight space suits to blast to the edge of the Earth's atmosphere. The project attracted huge criticism for being a meaningless stunt. I am told the couple have not sent paper or email invitations, the better to sail under the radar. And they have trimmed their guest list to the bare bones. 'It is very sweet, very understated,' says a guest. 'It is not an ostentatious blow out. 'They understand that the space flight criticism was bad for a reason and are responding to it by being less 'Marie Antoinette'.' The source adds: 'People really underestimate Lauren and Jeff. Truly, they are good people. They don't want the wedding to be a lightning rod for inequities in the world. It's just a wedding.' That's as maybe, but the celebrations are still expected to take place at jaw-droppingly beautiful – and exclusive – locations. Sources in Venice believe the nuptials will happen at the Fondazione Cini – a monastery on the island of San Giorgio Maggiore. Crucially, it will be free on June 25 – the most likely day of the wedding – as it is closed to the public on Wednesdays. Having twice hosted the G7 summit, it can offer complete security and privacy and is close to where the Koru will dock. Sources also expect celebrations at the palazzo apartment owned by Bezos' close friend Diane von Furstenberg. Local sources indicate that all 79 rooms of the fabled Hotel Cipriani have been block booked from June 24-26. A suite in high season costs around £20,000 a night. The Cipriani boasts the largest swimming pool in Venice and the Casanova gardens, where the infamous seducer used to meet his conquests. The couple are also believed to have booked out the Aman Canal Grande, the 24-bedroom palazzo where George Clooney tied the knot with lawyer Amal in 2014. Plans are being co-ordinated with the mayor of Venice's office to minimise disruption but some locals concerned about overtourism are planning protests. 'This city is not for sale, it is not a playground for the rich,' said activist Ruggero Tallon.
