Best inflation-beating savings accounts to make your money work hard
We explore the savings accounts that can best protect your money from inflation
Daniel Hilton
The Consumer Price Index (CPI) measure of inflation slowed to 3.2% in the 12 months to November, according to the latest data from the Office for National Statistics (ONS).
Analysts expected the measure to come in at 3.4%, down from 3.6% in October. The larger than expected drop in November was largely caused by a fall in food prices, which usually climb at this time of year.
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The average interest rate across all UK savings accounts is 3.39%, according to Moneyfacts, sitting just above inflation. But someone with an account paying this level of interest would only be earning interest of 0.19% in real terms – a paltry amount.
On average, easy access savings accounts are paying a rate of 2.56%, almost a full percentage point lower than November’s CPI rate of inflation – although there are plenty of inflation-busting deals on the market if you’re willing to shop around.
The top easy-access savings account on the market right now is Sidekick’s Multi Shield account which is paying 4.48% interest. This includes a 1% bonus rate that disappears after six months.
Caitlyn Eastell, spokesperson for Moneyfacts, said it was “as crucial as ever” savers get their money working its hardest with inflation remaining sticky in 2025.
“Loyalty is not always incentivised. The markets are most generous to those who proactively search for the highest paying deals,” she added.
The below accounts are the best on the market for someone saving £10,000 and are all FSCS-protected, according to Moneyfacts.
Which are the best savings accounts to beat inflation?
Best easy-access savings accounts
Sidekick Multi Shield | 4.48% | Includes a six-month bonus rate of 1% |
Cahoot Simple Saver | 4.40% | The interest rate is variable which means it could change over the 12-month term |
Chip Easy Access Saver | 4.37% | Comes with a 1.63% bonus rate for the first 12 months, after which the rate drops to 2.74%. Savers get three penalty-free withdrawals each year. |
Chip Instant Access Account | 4.35% | Comes with a 1.61% bonus rate for the first 12 months. The account comes with unlimited withdrawals. |
Best easy-access cash ISAs
Trading 212 Cash ISA | 4.52% | Includes a bonus of 0.67% for the first 12 months but comes with unlimited withdrawals |
Plum Cash ISA | 4.28% | Rate includes a bonus of 1.49% for the first 12 months |
Atom Bank Easy Access Cash ISA | 4.25% | Allows unlimited withdrawals, but the rate is variable so may go up or down. |
Aldermore Reward ISA Single Access | 4.15% | The rate drops to 2.90% if two or more withdrawals are made per year. |
Best one-year fixed savings accounts
AlRayan Bank Meteor Savings | 4.55% |
LHV Bank | 4.46% |
Habib Bank Zurich | 4.46% |
Best one-year fixed cash ISAs
Chetwood Bank Hargreaves Lansdown Active Savings | 4.31% |
Investec Save | 4.30% |
Tembo Money | 4.30% |
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