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.


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.
Official figures show UK inflation rose to 3.6% in June, up from May’s figure of 3.4% and still high above the 2% target. Inflation stood at 3% in January 2025.
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The number of accounts failing to beat CPI inflation has increased by nine million since the start of the year, Spring estimates, with 67.6 million adult savings accounts now earning 3.5% or below.
Derek Sprawling, head of money at Spring, said the analysis “should be a wake-up call for savers”, adding: “It’s time to review where your money is held and ensure it’s working harder for you.”
Sprawling urged savers to look for providers that offer rates above 3.6% as “anything less means your savings are losing value in real terms”.
There are currently 1,280 inflation-beating savings accounts on the market right now, according to the latest data from Moneyfacts.
The best one-year fixed-rate accounts offer up to 4.6% interest, while the top easy-access savings accounts pay up to 5%.
Savers who not only want to make the most of above-inflation interest rates but also want to shield their savings income from the taxman can make the most of the best cash ISAs on the market right now, paying up to 4.98% interest for easy-access savings or 4.35% for a one year fix.
The average savings account rate is just 3.51%, according to Moneyfacts, which is below the latest CPI inflation reading.
It could therefore be worth reviewing the rates you’re getting and checking your savings are working as hard as possible. We look at the top savings accounts for rates that beat inflation.
Which are the best savings accounts to beat inflation?
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 |
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 |
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% |
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% |
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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.
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