The best savings rates in November 2026 are paying around 4.5% to 5% on easy-access accounts and just over 5% on one-year fixed bonds, and they could edge higher after the Bank of England raised Bank Rate from 3.75% to 4% on 5 November. According to rates collected by DepositScout on 2 November, the top easy-access deals included Oxbury at 4.57% and Zopa's limited-access account at 4.56% for 12 months, while one-year fixes were led by Afin Bank at 5.17%, OakNorth at 5.12% and Shawbrook at 5.02%. In cash ISAs, Aldermore offered 5.25% on a five-year fix, Monzo 5.15% over three years and Zopa 5% over one year, while easy-access ISA rates from platforms such as Trading 212 and Moneyfarm were close to 4.8% to 4.9%. With CPI inflation at 3.5% and forecast to reach about 5% by mid-2027, savers whose money sits in accounts paying 1% or 2% are losing value in real terms, as the Westminster newsroom of The WP Times reports.
Tax is becoming as important as the headline rate. Following the Budget, the rates of tax on savings interest outside an ISA rise from 6 April 2027 to 24% for basic-rate taxpayers, 44% for higher-rate taxpayers and 49% for additional-rate taxpayers, while the Personal Savings Allowance stays at £1,000 and £500 respectively, with none for additional-rate taxpayers. The annual ISA allowance remains £20,000 for 2027/28, according to DepositScout, after a plan to reduce the cash ISA limit to £12,000 was dropped. Deposits are protected by the Financial Services Compensation Scheme up to £120,000 per person per banking licence, a limit raised from £85,000 on 1 December 2025, although money held in money market funds through investment platforms is covered differently. Rates change frequently, especially after a Bank Rate decision, so the best savings rates listed here are a snapshot and should be checked with each provider before opening an account.
Contents
Best savings rates for easy-access accounts
Easy-access accounts allow withdrawals at any time, although some limit the number of withdrawals or pay a lower rate after an introductory period.
Top easy-access accounts
| Provider | Rate | Conditions |
|---|---|---|
| LemFi | 5% | for six months, then 3.04%, up to £250,000 |
| Oxbury Easy Access | 4.57% | new customers, £1,000 minimum |
| Zopa Limited Access | 4.56% | 12 months, 3.50% above £50,000 |
Watch for bonuses and limits
Some of the best savings rates include a temporary bonus that ends after six or 12 months, when the rate falls sharply. Savers should note the date the bonus ends and be ready to move their money. Limited-access accounts may restrict withdrawals to a few a year.
Best savings rates for fixed-rate bonds
Fixed-rate bonds pay a guaranteed rate for a set period, but money is usually locked in until the end of the term.
One-year fixes
| Provider | Rate | Minimum |
|---|---|---|
| Afin Bank | 5.17% | £1,000, app only, interest at maturity |
| OakNorth | 5.12% | £1 |
| Shawbrook Plus | 5.02% | £10,000, new customers |
Fix or stay flexible
Fixing now locks in a rate, which helps if rates fall later. Staying in easy access keeps flexibility if the Bank of England raises rates again. Many savers split their money between the two.
Best savings rates for cash ISAs
Interest on cash ISAs is tax-free and does not count towards the Personal Savings Allowance, which becomes more valuable as savings tax rates rise.
Top cash ISAs
| Provider | Type | Rate |
|---|---|---|
| Aldermore | 5-year fix | 5.25% |
| Monzo | 3-year fix | 5.15% |
| Castle Trust | 2-year fix | 5.10% |
| Zopa | 1-year fix | 5% |
| eToro | easy access, money market fund | 4.94% |
| Trading 212 | easy access, new customers | 4.87% |
ISA rules for 2026/27 and 2027/28
- The ISA allowance is £20,000 a year, which can be split between cash and stocks and shares ISAs.
- DepositScout reports that the full £20,000 allowance remains for 2027/28 after a planned cut for cash ISAs was dropped.
- Transfers between ISAs do not count towards the allowance if done through the provider's transfer process.
- Withdrawing money and paying it back counts as a new subscription unless the ISA is flexible.
Savings tax from April 2027
The Budget confirmed further increases in the tax rates on savings income from 6 April 2027. This makes the best savings rates inside an ISA more valuable compared with taxable accounts.
The new rates
| Taxpayer | Personal Savings Allowance | Tax on savings interest from April 2027 |
|---|---|---|
| Basic rate | £1,000 | 24% |
| Higher rate | £500 | 44% |
| Additional rate | none | 49% |
"so the full £20,000 stays for 2027/28"
(DepositScout, The Best UK Savings Rates for November 2026)
Who is affected
A basic-rate taxpayer with £30,000 earning 4.5% receives £1,350 in interest, above the £1,000 allowance. The extra £350 would be taxed. Higher-rate taxpayers reach their £500 allowance with about £11,000 at that rate.
Protection and safety
Not every product that pays interest is a bank account. Checking how money is protected is as important as comparing the best savings rates.
FSCS protection
- Bank and building society deposits are protected up to £120,000 per person per banking licence.
- Some brands share a licence, so money held with them counts towards one limit.
- Joint accounts are covered up to £240,000.
- Temporary high balances, such as after a house sale, can be protected up to £1.4 million for six months.
- Check the FSCS protection checker before opening an account with an unfamiliar bank.
Beware of savings scams
Fraudsters advertise fake fixed-rate bonds with rates well above the market. Always check that a provider is authorised by the Financial Conduct Authority and contact it using details from its official website.
Best savings rates: questions and answers
What are the best savings rates in November 2026
Easy-access accounts paid around 4.5% to 5% and one-year fixes just over 5% at the start of November, according to DepositScout.
Will savings rates rise after the Bank of England decision
They may rise, as Bank Rate increased to 4% on 5 November, but banks often pass on increases to savers slowly.
How much can I put in an ISA
£20,000 a year across all ISAs.
How much savings interest is tax-free
£1,000 for basic-rate taxpayers and £500 for higher-rate taxpayers, plus any interest earned inside an ISA.
Is my money safe in a savings account
Deposits with UK-authorised banks are protected by the FSCS up to £120,000 per person per banking licence.
Background: rates, inflation and savers
Savings rates had fallen through 2025 and early 2026 as the Bank of England cut rates, before the November increase reversed the trend. With inflation at 3.5%, only accounts paying above that level protect the real value of savings.
Read more in our reports on the Bank of England interest rate decision, the UK inflation rate and the pensions gap facing under-60s.
Sources used: DepositScout, Bank of England, Office for National Statistics, Deloitte, HM Treasury, Financial Services Compensation Scheme, Financial Conduct Authority
