16th July 2026
Moneyfacts UK Savings Trends Treasury Report data shows savings choice hits a sixth consecutive record high as competition among providers remains fierce.
Overall product choice has beaten all-time highs for a sixth consecutive month, rising to 2,583 savings deals (including ISAs). Excluding ISAs, product count rose to 1,853, the highest number of non-ISA products on record (records began Feb 2007).
The number of cash ISAs fell for a second month and now stands at 730.
The number of accounts paying above Base Rate at £5K rose to stand at 1,385, its highest since April 2020 (1,405).
As a result of no providers entering or withdrawing from the savings market, the number of providers remained at 158. The number of ISA providers rose by three to a new record high of 106.
· The average easy access rate rose by its biggest margin since October 2023 to 2.53%, the highest rate in almost a year (September 2025 2.59%). The average notice rate rose to 3.40%.
The average easy access ISA rate fell to 2.72%, while the average notice ISA fell to 3.33%.
· The average one-year fixed rate rose to 4.22%, its highest since November 2024 (4.24%). The longer-term average fixed rate jumped to 4.24%, its highest figure in over two years (January 2024 4.46%).
The average one-year fixed ISA rate fell for the first time in five months to 4.21%. The longer-term fixed ISA rate held steady at 4.22%, its joint highest since January 2024 (4.32%).
The Moneyfacts Average New Savings Rate has risen for the fifth time running to 3.58%. Over the past year the rate has risen from 3.51% to 3.58%.
Caitlyn Eastell, Personal Finance Analyst at Moneyfacts, said, “Savers have reason to be encouraged as competition across the savings market shows no signs of slowing. This month, product choice has reached 2,583, setting a new record-high for the sixth consecutive month.
Not only this, but savers can benefit from the widest range of interest-rate busting options seen in over six years, as 1,385 deals now outpace Base Rate, accounting for over half the market. While savers are winning, for providers, the intensifying competition means the cost of attracting and keeping savers’ money is rising, putting more pressure on margins. However, this may be necessary, particularly for providers looking to support any lending activity and manage their funding.
“The good news for savers continues, many savings rates continue to rise and reach multi-year highs. One option faring best is the average non-ISA easy access account which saw its biggest monthly rise since October 2023 to 2.53%.
However, there is more opportunity beyond average rates, as the most competitive accounts offer significantly higher returns. A saver with £10,000 in an account paying 2.53% would earn £253 in interest over a year, but a simple switch could see this jump to around £500 in a top account, a difference of almost £250 a year. On larger balances, the benefit of switching becomes even more significant.
Fixed-rate savers are also benefiting from stronger returns, with the average non-ISA one-year and longer-term rates rising for a fifth consecutive month running to their highest levels since 2024 to 4.22% and 4.24% respectively.
“The current condition of the savings market strongly favours active savers. Regularly reviewing and switching accounts can make a meaningful difference to how quickly savings grow, helping savers benefit from the most competitive rates available. Those who leave money sitting in older or lower-paying accounts risk missing out on hundreds of pounds in potential interest.”
Source - Moneyfactsgroup.co.uk