Savings Comparison Calculator

Easy access accounts let you withdraw whenever you like, but typically offer lower rates - currently around 4.3% 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. For terms longer than 2 years with the 2-year fixed option, we assume you roll into another 2-year fix at the same rate.

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.

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.

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.

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.

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.

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.

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

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