UK savings rates: NS&I offering record 6.2%

That’s serious stuff. I wonder what it says about the Government’s true view on the longer term base rate? Or are they just putting it up to the banks? Bravo if they are.


Thanks for the heads up.

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I had seen this rate a few weeks ago and thought to alert the person selling that house, then forgot which thread, tracked it down now it was


so tagged in case of interest?

There’s quite a flux of rate changes at the moment, as well as the 6.2% 1 year fix, there’s Santander easy access at 5.2% - which is actually instant access - that 1% less may pay off if one wants flexibility to buy euros on a ‘good’ rate.

Or family BS has a 9 month fix at 6.1% so might suit verdoux’s timescales better.

Whilst this thread might be handy to post new rates, anyone with GBP savings should really be looking at Money saving expert each week - or even better signing up to the weekly email.

Note the UK rates do outpace the Livre A etc at the mo. - by 1 - 2% even after France tax - so it doesn’t seem to make sense at the moment to buy euro’s to put into the Livre A as one will be losing that much each year.

Only if the £ hit’s more than 1.1750 again might it seem worthwhile to me - unless of course a car purchase or similar is planned near term.

So it might work to put some sterling aside for 9 months / a year and buy euro’s after that…

edit - forgot the Santander account is until 22nd sept - or earlier if sold out.

There os also the Santader Edge account paying 7%. Its a paid account £3 per month but with cash back on shopping and bills that should be easy to get back.

First Direct is also paying 7% but its a regular saver max £300pm but could work being fed from a lower rate account

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Only on £4k of savings though. Which is a common trick - offer “market beating” rates but on tiny amounts of money.

Again, you can only put in £3.6k in a year, and it “matures” after 12 months and has to be closed. At least the info is honest and says you will only get £136 interest if you put in £300 each month.

Compared to some of the lack luster accounts on offer they are not bad but cherry picking is definitely in order Virgin money has a reasonable rate 5. Something for larger amounts once you have used the others.