{"id":6262,"date":"2025-07-18T11:32:16","date_gmt":"2025-07-18T11:32:16","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/6262\/"},"modified":"2025-07-18T11:32:16","modified_gmt":"2025-07-18T11:32:16","slug":"best-savings-accounts-of-the-week-offering-up-to-4-75-interest-personal-finance-finance","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/6262\/","title":{"rendered":"Best savings accounts of the week offering up to 4.75% interest | Personal Finance | Finance"},"content":{"rendered":"

Savers have been urged to lock in the best rates now before an expected interest rate<\/a> cut by the Bank of England in a few weeks’ time. The BoE’s current base rate is 4.25%, with experts anticipating a cut next month despite inflation rising to 3.6%<\/a> in June.<\/p>\n

Sarah Coles, Head of Personal Finance at broker Hargreaves Lansdown, said a cut in August is still on the cards with the chances of a cut falling slightly but still looking incredibly likely. She said savings<\/a> rates are trending downwards, pointing to Moneyfacts figures showing the average 1-year fixed rate dropping from 4.03% two months ago to 4.02% this time last month and 4.01% now.<\/p>\n

Ms Coles added: “These aren’t dramatic movements, but over time they do add up. It means that anyone considering fixing a savings rate should do so sooner rather than later, while there are some strong deals around.”<\/p>\n

The Express asked finance experts where savers can find the best deals before the Bank’s rate-setters meet on August 7.<\/p>\n

Samuel Mather-Holgate, Independent Financial Adviser at Mather and Murray Financial, told the Express savings rates are still good compared to the pre-Covid<\/a> “pittance”.<\/p>\n

He said Chetwood bank is offering 4.5% on its six month fixed rate bonds and Atom Bank is currently offering the best instant access saver at 4.75%.<\/p>\n

Mr Mather-Holgate cautioned: “But if (BoE Governor) Andrew Bailey reduces the Bank of England base rate, this will likely fall.”<\/p>\n

Anita Wright, Chartered Financial Planner at Ribble Wealth, said savvy savers can still access competitive returns across all time frames.<\/p>\n

She said for short-term fixes, Oxbury Bank leads with 4.62% for six months and 4.61% for three, while GB Bank offers 4.5% with added flexibility on interest payment.<\/p>\n

Ms Wright said: “These are ideal for those seeking returns without locking money away long-term.”<\/p>\n

For two-year terms, she said DF Capital leads at 4.44%, with GB Bank and JN Bank close behind, with JN Bank allowing deposits from just \u00a3100.<\/p>\n

She said for three-year fixes, DF Capital offers the top rate at 4.43%, slightly ahead of GB Bank and Birmingham Bank.<\/p>\n

Among established brands, Ms Wright said Leeds Building Society offers 4% and NS&I<\/a> provides up to 3.88%.<\/p>\n

Ms Wright said: “With rates edging down, now may be the time to act. Savers should align rate, term and provider strength with their needs and avoid letting cash stagnate in low-interest accounts. Even short-term fixes offer strong value in today\u2019s market.”<\/p>\n

Scott Gallacher, Director at Rowley Turton, suggested savers should currently be aiming for around 4.5% on a decent fixed-rate savings account, although rates are slightly lower for fixed-rate Cash ISAs.<\/p>\n

He told the Express: “For competitive rates, it\u2019s hard to beat Castle Community Bank, which is offering an excellent 4.59% on a one-year fixed-rate bond.<\/p>\n

“For basic-rate taxpayers, this comfortably keeps savings ahead of the current 3.6% inflation rate. The rate dips slightly to 4.38% for a three-year fixed bond, but this remains one of the best rates available and reflects market expectations that interest rates<\/a> will fall in due course.”<\/p>\n

Mr Gallacher said for people willing and able to lock their money away for longer, Close Brothers is offering 4.35% on a five-year fixed-rate bond, providing “a solid option” for savers seeking longer-term certainty.<\/p>\n","protected":false},"excerpt":{"rendered":"Savers have been urged to lock in the best rates now before an expected interest rate cut by…\n","protected":false},"author":2,"featured_media":6263,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[84,59,814,3668,56,54,55],"class_list":["post-6262","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-gb","tag-interest-rates","tag-savings","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/6262","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=6262"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/6262\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/6263"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=6262"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=6262"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=6262"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}