Enter up to 5 savings rates and see exactly how much each earns over any period. Find out what a 0.5% or 1% better rate is actually worth in pounds — the difference is almost always larger than people expect.
| Account | AER | 1yr Net | 3yr Net | 5yr Net | vs Lowest |
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Most people know a higher savings rate is better. Few realise how much the difference compounds. A 1% higher rate on £20,000 earns an extra £200 in year one. After 5 years of compounding: over £1,050 more. After 10 years: over £2,300 more. This tool makes those differences visible in pounds — so you know whether switching accounts is worth the 10 minutes it takes.
The Financial Conduct Authority estimates UK savers lose billions annually by leaving money in legacy accounts paying below-market rates. Banks count on inertia — customers who opened an account when rates were competitive and never switched when better options emerged. Comparing accounts once a year takes minutes and can be worth hundreds of pounds annually on a meaningful balance.
Fixed bonds typically pay 0.3–0.8% more than the best easy-access accounts. On £20,000 over 2 years: 0.5% extra = approximately £202 more. If you can commit to not accessing the money, the premium is real and worth taking.
A 4.5% Cash ISA vs 4.8% standard account: the standard account pays more gross. But a 40% taxpayer above their £500 PSA keeps 4.8% × 0.6 = 2.88% net vs 4.5% tax-free. The ISA wins by 1.62% in real terms. Tax efficiency changes the calculation completely.
At minimum annually — set a calendar reminder. More practically, compare whenever a fixed-rate bond matures, when you receive a significant lump sum, or when the Bank of England changes base rates. Comparison takes 10 minutes and can be worth £200–£500+ on a £20,000 balance switching from a below-market rate.
Yes, if the new bank is FSCS-protected (all UK-authorised banks and building societies are). Check the bank is on the FSCS register at fscs.org.uk before transferring. Keep individual deposits under £85,000 per institution for full protection. Note that some banks share a banking licence — always verify.
The PSA lets UK taxpayers earn a certain amount of savings interest tax-free each year: £1,000 for basic-rate (20%) taxpayers, £500 for higher-rate (40%) taxpayers, and £0 for additional-rate (45%) taxpayers. Interest within the PSA is tax-free; above it, you pay income tax. Our comparison calculator shows net-of-tax returns based on your selected tax rate.