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How good is your savings rate?

Important information - Active Savings helps you make your own decisions and is not personal advice. Fixed term products generally only allow access to funds at maturity. Inflation reduces the future spending power of money.

Is your savings rate better than the market?

A great interest rate can make all the difference to your savings. It’s important to look at the wider market so you know if you’re getting a good deal. Rates are continually changing, so what you thought was good before may have changed.

Most of us go to our existing bank for new savings. But high street banks typically pay some of the worst rates.

Average market rates

The rate you get will be balanced by the flexibility you have. Instant access products usually pay a low rate but let you get your hands on your money whenever you need it. Fixed term products will typically pay a better rate, but you won’t usually be able to access your money until it matures.

Average instant access rate0.16%
Average 1 year fix rate0.48%
Source: Bank of England 30 June 2020

Instant access rates from high street banks

Barclays 0.25%*
Santander 0.05%*
HSBC 0.05%*
Lloyds 0.01%
NatWest 0.01%
Bank of Scotland 0.01%
Halifax 0.01%
RBS 0.01%
TSB 0.01%*

Information is correct at 10 July 2020. All rates AER/Gross.

*Barclays will pay 0.01% from 28 July.

Santander and HSBC pay 0.05% on a product which can be managed online and through mobile only. For other instant access savings accounts the rate is 0.01%.

TSB pay a rate of 0.01% but with an added introductory bonus of 0.01% on top for the first 12 months.

The Bank of England base rate

This is the rate the Bank of England charges to lend money to banks. It is often used as a reference when banks set their rates and will move in line with changes to it.

BoE base rate0.10%

Why inflation is important

Inflation shows how the price of goods and services changes over time. If your savings rate isn’t beating inflation, your money will be losing value in real terms. Inflation figures are released on a monthly basis and Consumer Price Inflation (CPI) is the most commonly quoted figure.

Current inflation rate (CPI)0.60%

Get your money working harder in an easy way

Active Savings can help you boost your cash. Through one online account you can choose easy access and fixed term savings products from multiple banks and building societies.

There are a selection of competitive rates to choose from, typically above market average.

Discover Active Savings

Active Savings latest rates

Easy access

Up to
0.50% | 0.50%
(AER | Gross)

Up to 6 months

Up to
0.80% | 0.80%
(AER | Gross)

Up to 1 year

Up to
1.05% | 1.05%
(AER | Gross)

Up to 3 years

Up to
1.10% | 1.10%
(AER | Gross)

Easy access

Up to
0.50% | 0.50%
(AER | Gross)

Up to 6 months

Up to
0.80% | 0.80%
(AER | Gross)

Up to 1 year

Up to
1.05% | 1.05%
(AER | Gross)

Up to 3 years

Up to
1.10% | 1.10%
(AER | Gross)

Please note, products can be added or withdrawn at any time. Rates may be subject to change and depend on individual circumstances.

Instant access products allow immediate withdrawals, the Active Savings service offers easy access products and withdrawals usually take one working day.

Discover how Active Savings can help you boost your savings

Find out more

AER shows what the interest rate/expected profit rate would be if it was paid and compounded once each year. It helps you compare the rates on different savings products.

Gross is the interest rate without any tax removed. Interest/profits are paid gross. You are responsible for paying any tax due on interest/profits that exceed your Personal Savings Allowance to HM Revenue & Customs. Tax treatment can change.


This website is issued by Hargreaves Lansdown Asset Management Limited (company number 1896481), which is authorised and regulated by the Financial Conduct Authority with firm reference 115248.

The Active Savings service is provided by Hargreaves Lansdown Savings Limited (company number 8355960). Hargreaves Lansdown Savings Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 with firm reference 901007 for the issuing of electronic money. Hargreaves Lansdown Asset Management Limited and Hargreaves Lansdown Savings Limited are subsidiaries of Hargreaves Lansdown plc (company number 2122142).