Martin Lewis shares top savings accounts paying near five percent interest rate

In the MoneySavingExpert newsletter, Martin Lewis shared where Britons can find the top fixes paying near five percent, as well as an account paying a 50 percent bonus.

As interest rates continue to rise, banks and building societies are offering competitive rates to entice savers.

Britons are urged to shop around and find the best deals for them to help their money go further.

In the newsletter, Martin and the MSE team said: “Savings rates are at their highest level for 14 years, so those earning anything less than three percent (at the very minimum) should ditch and switch.”

Experts are predicting that the base rate is set to increase from 4.25 percent to 4.5 percent on Thursday when the Monetary Policy Committee have their next meeting.

As inflation sits above 10 percent, the base rate may continue to rise in a bid to lower rising costs.

Although this may be bad news for borrowers, savers can benefit by getting higher interest rates for their money.

Despite any cash in the bank losing value due to inflation, it is important for people to maximise “every penny of interest,” however many are failing to do so.

Mr Lewis and the team warned that “millions of people” are being ripped off if their savings accounts are offering less than one percent.

The newsletter continued: “Yet millions of people have money in savings and cash ISAs, earning far less than one percent – with banks taking advantage of customer inertia. Stop ’em ripping you off. Check yours now.

“You may be able to get quintuple the interest in minutes as the top savings fixes now pay nearly five percent (in fact, briefly they hit five percent but only via a short-lived deal on a special savings platform) and top easy-access near four percent. The cash ISA versions of each pay a little less.”

Top easy-access 3.71 percent include:

  • Chip is 3.71 percent
  • Shawbrook 3.65 percent
  • Cynergy Bank 3.55 percent

Top online easy-access includes:

  • Post Office 3.47 percent
  • Sainsbury’s Bank 3.37 percent
  • Nationwide Building Society 3.2 percent

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Top linked accounts include:

  • Barclays Rainy Day Saver 5.12 percent on up to £5,000
  • Santander Edge Saver four percent to £4,000

Top one-year fix

  • SmartSave 4.87 percent
  • OakNorth 4.86 percent

Top two-year fix

  • Isbank 4.9 percemt via the savings marketplace Raisin
  • Charter Savings Bank 4.9 percent

For more information, people can visit for the latest account rankings.

Britons can also boost interest up to 50 percent with certain special accounts if they are on benefits.

Those on Universal Credit can benefit from the Help to Save account and get a 50 percent bonus on their savings.

Amarjit emailed the MSE team and said: “Me and my husband got a Help to Save account 4 years ago and got our maximum £1,200 bonus.

“So £2,400 together on top of £4,800. Big thanks.”

Martin Lewis is the Founder and Chair of . To join the 13 million people who get his free Money Tips weekly email, go to

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