Savings Comparison Calculator

How to Compare Savings Accounts

Choosing the right savings account depends on your goals and how long you can lock your money away. Our calculator lets you compare four common account types side by side: easy access, one-year fixed, two-year fixed, and cash ISA. Enter your savings amount and time horizon, then adjust the rates to match offers you've seen from banks and building societies.

Easy Access vs Fixed Rate

Easy access accounts let you withdraw whenever you like, but typically offer lower rates — currently around 4.75% on average. They're ideal for emergency funds or when you're unsure how long you'll save.

Fixed rate accounts pay more in exchange for locking your money for 1–5 years. One-year fixed rates average 4.4% and two-year fixed 4.15%. If you won't need the cash for the term, fixed rates usually earn more. The calculator shows exactly how much more.

ISA Benefits

A cash ISA is tax-free. All interest earned stays out of your taxable income. If you're a basic rate taxpayer, you have a £1,000 Personal Savings Allowance anyway — but higher and additional rate taxpayers get only £500 or £0. An ISA protects you from tax regardless of how much interest you earn. Compare ISA vs taxable rates in the tool above to see the real difference.

What to Look For

When comparing savings accounts, check: the AER (Annual Equivalent Rate), any bonuses that drop after 12 months, minimum deposits, withdrawal restrictions, and whether the provider is FSCS protected. Our calculator assumes you leave the money untouched for the full term — early withdrawal from fixed accounts usually means losing the better rate or paying a penalty.

Frequently Asked Questions

Should I choose easy access or fixed rate savings?

Easy access suits you if you might need the money soon. Fixed rate accounts offer higher rates in exchange for locking your money away. If you can commit to 1–2 years without touching your savings, a fixed rate usually earns more. Use our comparison calculator above with your amount and time frame to see the difference in pounds and pence.

What are the benefits of a cash ISA?

Cash ISAs are tax-free. Interest earned inside an ISA does not count towards your Personal Savings Allowance. If you're a higher or additional rate taxpayer, or expect to earn significant interest, an ISA can save you tax. The calculator above lets you compare ISA growth against taxable accounts — even when the headline ISA rate is lower, the tax-free status can make it the better option.

What is a good savings rate in 2026?

As of early 2026, competitive easy-access rates are around 4.5–5%, one-year fixed rates around 4.2–4.5%, and two-year fixed rates around 4.0–4.2%. Cash ISAs often sit slightly below taxable equivalents. Our calculator pre-fills with current UK averages from Bank of England Interactive Analytical Database (IADB) — update the rate inputs to match specific offers you're considering.

Does the calculator account for tax?

The calculator shows nominal interest (before tax) for easy access and fixed rate accounts. ISA results are tax-free. To compare fairly, consider that basic rate taxpayers pay 20% on interest above the £1,000 allowance, higher rate 40% above £500, and additional rate 45% with no allowance. Use the ISA option in the comparison to see tax-free growth.

Where to Get the Best Rates

Looking for the best savings rates? Here are some current options from UK providers (rates change frequently — check directly for the latest):

• Compare savings accounts on MoneySupermarket
• Chase UK easy-access saver
• Monzo Instant Access savings
• Compare cash ISAs on Compare the Market
• Hargreaves Lansdown stocks and shares ISA

Some links may be affiliate links. If you open an account through them, we may receive a commission at no extra cost to you. This does not affect our calculator results or recommendations.