Top savings accounts this week: Britons urged to grab best deals while they can as banks offer 8%

Family going over finances and savings pot

As a new month begins, now is a perfect time for savers to review their variable savings rates

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Temie Laleye

By Temie Laleye


Published: 02/09/2024

- 17:05

As a new month begins, now is a perfect time for savers to review their variable savings rates

Over the past week some of the market-leading fixed rates endured cuts, so savers will need to be quick to grab a deal that pays five per cent or more.

Although the Bank of England chose to cut the base rate at their last meeting, experts have shown there are still good deals for savers to grab while they can to make the most of their money.

Easy access, notice and their ISA equivalents have seen rate cuts over the past month due to the base rate cut.

The Bank of England cut the interest rate from 5.25 per cent to five per cent following seven consecutive decisions to freeze it. Before this, there had been 14 consecutive base rate hikes since December 2021.

As the base rate falls, many providers are pulling their best rates from the market.

Britons are urged to secure high rates while they can.

Interest calculatorSavers are typically earning higher interest rates on their savings pots than they were a few years agoGETTY

Rachel Springall, finance expert at Moneyfactscompare.co.uk said: "The savings market was less volatile in the number of top rates facing cuts this week, but there were still enough rate moves to switch up the market-leading accounts.

"The biggest moves appear to be occurring within the fixed rate sectors, but there are still a few bonds that will pay a guaranteed return of five per cent or more over the next 12 months.

"However, those looking to fix for longer may feel compelled to do so if they think rates are doomed to fall further.

"Variable rates remain rather stable week-on-week, but as some providers catch up to last month’s base rate cut, it is essential savers review, switch and ditch their easy access account if they are getting a poor return on their hard-earned cash."

Best regular savings accounts

Here is a full list of the best regular savings accounts on offer for the week beginning September 2, 2024:

  • Principality BS - Eight per cent AER / 7.85 per cent gross
  • The Co-operative Bank - Seven per cent AER / gross
  • Nationwide BS - 6.50 per cent AER / gross
  • NatWest - 6.17 per cent AER / Six per cent gross
  • Royal Bank of Scotland - 6.17 per cent AER / Six per cent gross
  • Principality BS - Six per cent AER / gross
  • West Brom BS - Six per cent AER / gross
  • TSB - Six per cent AER / gross
  • Principality BS - 5.50 per cent AER / gross
  • Saffron BS - 5.50 per cent AER / gross

Best fixed-rate savings accounts

Here is a full list of the best savings accounts with a one-year fixed rate for the week beginning September 2, 2024:

  • Union Bank of India (UK) Ltd - 5.05 per cent AER / gross
  • Mizrahi Tefahot Bank Ltd - 5.05 per cent AER / gross
  • Union Bank of India (UK) Ltd - 5.05 per cent AER / gross
  • Atom Bank - Five per cent AER / gross
  • ICICI Bank UK - Five per cent AER / gross
  • GB Bank - Five per cent AER / gross
  • Habib Bank Zurich plc - Five per cent AER / gross
  • Habib Bank Zurich plc - Five per cent AER / gross
  • SmartSave - 4.93 per cent AER / gross
  • Close Brothers Savings - 4.92 per cent AER / gross

Here is a full list of the best cash ISAs with a one-year fixed rate attached for the week beginning September 2, 2024:

  • Punjab National Bank (International) Limited - 4.80 per cent AER / gross
  • Virgin Money - 4.75 per cent AER / gross
  • Castle Trust Bank - 4.70 per cent AER / gross
  • Cynergy Bank - 4.66 per cent AER / gross
  • Nottingham BS - 4.66 per cent AER / gross
  • Melton BS - 4.65 per cent AER / gross
  • Kent Reliance - 4.63 per cent AER / gross
  • Santander - 4.62 per cent AER / gross
  • UBL UK - 4.61 per cent AER / gross
  • Zopa - 4.60 per cent AER / 4.50 per cent gross

Here is a full list of the best cash ISAs with a variable rate attached for the week beginning September 2, 2024:

  • Trading 212 - 5.20 per cent AER / 5.07 per cent gross
  • Progressive BS - 5.05 per cent AER / gross
  • Tipton & Coseley BS - 5.01 per cent AER / gross
  • Principality BS - Five per cent AER / gross
  • Newcastle BS - Five per cent AER / gross
  • Plum - 4.92 per cent AER / 4.82 per cent gross
  • Chorley Building Society - 4.85 per cent AER / gross
  • West Brom BS - 4.85 per cent AER / gross
  • Chip4.84 per cent AER / 4.74 per cent gross
  • Cynergy Bank - 4.82 per cent AER / gross

Here is a full list of the best easy-access savings accounts without a bonus attached for the week beginning September 2, 2024:

  • cahoot - 5.20 per cent AER / gross
  • Ulster Bank - 5.20 per cent AER / gross
  • cahoot - 4.85 per cent AER / gross
  • GB Bank - 4.85 per cent AER / 4.75 per cent gross
  • Chorley Building Society - 4.80 per cent AER / gross
  • Oxbury Bank - 4.79 per cent AER / 4.69 per cent gross
  • Monument Bank - 4.77 per cent AER / 4.67 per cent gross
  • Family Building Society - 4.76 per cent AER / gross
  • Ford Money - 4.75 per cent AER / gross
  • Dudley BS - 4.75 per cent AER / gross
Here is a full list of the best easy-access savings with a bonus attached for the week beginning September 2, 2024:
  • Cynergy Bank - 4.80 per cent AER / gross
  • Principality BS - 4.75 per cent AER / gross
  • Principality BS - 4.60 per cent AER / gross
  • Beehive Money - 4.60 per cent AER / gross
  • Tesco Bank - 4.56 per cent AER / gross
  • Post Office Money® - 4.55 per cent AER / gross
  • Marcus by Goldman Sachs® - 4.30 per cent AER / 4.22 per cent gross
  • SAGA - 4.30 per cent AER / 4.22 per cent gross
  • Post Office Money® - 4.10 per cent AER / gross
  • Sainsbury's Bank - Four per cent AER / gross

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