Over 1,500 savings accounts now beat inflation – how long will it last?

Savers are benefiting from another inflation slowdown, helping them achieve real returns from savings accounts but you need to act fast to secure the best rates. Are you putting your money in an account that beats inflation?

pound coins piled up
(Image credit: Getty Images)

If you are looking for the best savings accounts for your cash, then now is the time to take advantage as hundreds beat inflation, which now floats at just above the Bank of England's 2% target.

The latest Office for National Statistics (ONS) figures released today (22 May) showed the inflation rate slowed to 2.3% in April from 3.2% in March.

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Type of accountProviderInterest rate (AER)Minimum depositNotes
Easy-access savings Ulster Bank 5.2%No minimum Variable rate account
Notice accountDF Capital 5.35%£1,000180-day notice period
Easy-access ISA Plum5.06%£1Includes a bonus for the first 12 months
Fixed-rate ISA Virgin Money5.05%No minimumOne-year fixed account
One-year fixed bond Habib Bank Zurich plc5.21%£5,000Interest paid on maturity
Marc Shoffman
Contributing editor

Marc Shoffman is an award-winning freelance journalist specialising in business, personal finance and property. His work has appeared in print and online publications ranging from FT Business to The Times, Mail on Sunday and the i newspaper. He also co-presents the In For A Penny financial planning podcast.