Savings
Savings Hub
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A plain-English guide to UK savings: easy-access accounts, AER, Cash ISAs, inflation and compound interest. It’s general information, not personalised advice, and it isn’t a live rate table.
Core savings concepts
UK savings in plain English
A savings account holds your cash and usually pays interest. Rates, access rules, bonuses and tax treatment vary from account to account. Compare AERs, read the access terms, and check whether a Cash ISA suits you.
The FSCS protects eligible deposits up to £120,000 per person, per authorised firm (from 1 December 2025). That covers a firm failing. It doesn’t protect you from inflation or a falling rate. Source: FSCS.
Savings rates move often. Check the provider’s key information and a dated comparison before you move money.
Compare easy-access savings guides
Or browse the full Savings category for more articles.
Taxable savings vs Cash ISA: the short version
Interest on ordinary savings is usually paid without tax taken off. You may still owe tax if you earn more than your allowances. Interest in a Cash ISA is tax-free, and what you pay in counts towards your yearly ISA allowance. For 2026/27, the adult ISA allowance is £20,000 (source: GOV.UK, checked 4 October 2026).
Moving an ISA? Don’t withdraw the cash yourself. Ask your new provider to run an official ISA transfer so you keep the tax-free status.
More: ISAs · ISA allowance rules · AER explained.
Key decision routes
Useful starting points
Good places to start. These aren’t personal recommendations.
Decision guides
Easy-access rates snapshot (18 October 2026)
Illustrative rates from public charts and providers’ own sites on 18 October 2026. Confirm the live rate before you move money.
| Provider / product | Rate / offer | Key catch | Verdict |
|---|---|---|---|
| LemFi Instant Access | about 5.00% AER intro | Intro rate, then it drops | Good if you’ll move your money when the intro rate ends |
| Tembo HomeSaver | about 4.55% AER (incl. 1.55% 12-month intro) | Extra 1.0% bonus only if you take a mortgage through Tembo within 3 years (Tembo, 18 Oct 2026) | Worth a look if you’re saving for a deposit and might use Tembo for the mortgage |
| Cahoot Simple Saver | about 4.52% AER intro | Intro rate, then it drops | Fine if you don’t mind switching again later |
FSCS protection covers deposits up to £120,000. More in our easy-access savings guide.
Our savings guides
FAQ
Where can I compare easy-access savings on this site?
Start with Easy-access savings accounts and the wider Savings category. Always re-check live rates on provider sites.
What is AER?
AER (Annual Equivalent Rate) shows what interest you’d earn over a year, including compounding, so you can compare accounts like for like. See AER explained.
Does FSCS protect me from inflation?
No. The FSCS protects eligible deposits if a firm fails, up to £120,000 (from 1 December 2025). Inflation is a separate issue: it erodes what your money can buy. See Inflation explained.
Should I always use a Cash ISA?
Not necessarily. Whether a Cash ISA suits you depends on your tax position and goals. Read our ISA allowance rules and check GOV.UK or MoneyHelper. We can’t give personalised advice.
Where do I start if I’m new?
Try Start Here, then AER explained and easy-access savings.
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