Savings Accounts

The Bank of England has increased the base rate from 4.5% to 5% – taking it to its highest level since the 2008 financial crisis. This rate is used by the central bank to charge other banks and lenders when they borrow money – and so it influences what borrowers pay and what savers earn.

NS&I will increase its Premium Bond prize-fund rate to 3.7% from 3.3% for its July 2023 draw and beyond, with an extra £39 million in higher-value prizes up for grabs. This latest increase – the sixth we've seen in just over a year – is to the highest rate in 15 years. The odds of winning will remain the same at 24,000 to one, but there will more prizes between £50 and £100,000 available.

You can now earn 4.25% on your savings with Staffordshire-based Hanley Economic Building Society's new account. It's the highest easy-access rate in 14 years - since January 2009 - and it overtakes the previous top rate of 3.71%. However, you can only open the account by post or in branch.

If you've got a Marcus easy-access savings account or cash ISA, you can boost your interest rate to 3.3% in seconds by activating its new 0.34% bonus. It's a no-brainer for those who don't want to switch, though you can get even better returns elsewhere.

NS&I will increase its Premium Bond prize-fund rate to 3.3% from 3.15% for its March 2023 draw and beyond, with an extra £15 million in higher-value prizes up for grabs. The odds of winning will remain the same at 24,000-to-one, but there will more prizes between £50 and £100,000 available.

NS&I will increase its Premium Bond prize-fund rate to 3.15% from 3% for its February 2023 draw and beyond, with an extra £15 million in higher-value prizes up for grabs. The odds of winning will remain the same at 24,000-to-one, but there will more prizes between £50 and £100,000 available.

Change is needed to help half a million younger people with Lifetime ISAs as many risk lock-out and £1,000+ in fines to get their money back.

The Bank of England has increased the base rate from 3% to 3.5%. This rate is used by the central bank to charge other banks and lenders when they borrow money – and so it influences what borrowers pay and what savers earn.

NS&I will increase its Premium Bond prize-fund rate to 3% from 2.2% for its January 2023 draw and beyond, with an extra £80 million in higher-value prizes up for grabs. The odds of winning will remain the same at 24,000-to-one, but there will more than three times as many prizes between £5,000 and £100,000 available.

PCF Bank has stopped offering personal savings accounts and loans to new customers, and plans to exit the UK banking market – but there's no immediate change for existing savers or borrowers.