Best inflation-beating savings accounts to make your money work hard

We explore the savings accounts that can best protect your money from inflation as millions of savers miss out on inflation-beating rates.

pile of pound coins
There are over 1,600 inflation-beating savings accounts on the market right now
(Image credit: Getty Images/BrianAJackson)

Billions of pounds are being eroded by inflation as savings are left languishing in accounts paying low interest rates.

The total balance of adult savings accounts failing to beat inflation has surged by almost £200 billion since January, reaching £660 billion, according to savings app Spring.

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Best easy-access savings accounts

Account

Rate (AER)

Access Notes / bonus rate

Chase Saver with Boosted Rate

5.00%

Rate includes 2.17% bonus for 12 months

Atom Bank Instant Saver Reward

4.6%

Lower rate paid if a withdrawal is made

Cahoot Simple Saver (Issue 10)

4.55%

Rate is decreased to 0% for portion of balance between £500,001 and £2 million

Principality Building Society Online Bonus Triple Access (Issue 7)

4.55%

Rate includes 1.80% bonus for 12 months

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Best easy-access cash ISAs

Account

Rate (AER)

Access Notes / bonus rate

Plum Cash ISA

4.98%

Rate includes 1.67% bonus for 12 months from £100.

Trading 212 Cash ISA Promo Rate

4.98%

Rate includes 0.88% bonus for 12 months

Moneybox Cash ISA

4.65%

Rate includes 0.70% bonus for 12 months

Tembo Money Cash ISA

4.64%

Minimum opening amount £10

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Best one-year fixed savings accounts

Account

Rate (AER)

AlRayan Bank Prosper - 1 Year Fixed Term Deposit

4.60%

GB Bank 1 Year Fixed Rate Bond

4.53%

Castle Community Bank Fixed Rate Savings

4.52%

Tandem Bank 1 Year Fixed Saver

4.52%

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Best one-year fixed cash ISAs

Account

Rate (AER)

Chetwood Bank HL Active Savings - 1 Year Fixed Rate Cash ISA

4.35%

Paragon Bank 15 Month Fixed Rate Cash ISA

4.28%

Tembo Money Cash ISA - Fixed Rate

4.27%

Kent RelianceOne Year Fixed Rate Cash ISA - Issue 120

4.25%

Daniel is a digital journalist at Moneyweek and enjoys writing about personal finance, economics, and politics. He previously worked at The Economist in their Audience team.

Daniel studied History at Emmanuel College, Cambridge and specialised in the history of political thought. In his free time, he likes reading, listening to music, and cooking overambitious meals.