Best rate savings accounts and cash ISAs in November

Savings rates remain strong for Brits who can put some cash in the bank for a while - and with two interest rates hikes expected between now and February, it could get even better.

Our regular round up of the best savings rates across easy access accounts and Cash ISAs shows you where your money can earn most interest, and while rates are correct at the time of writing you should always check as they can change at any time.

One additional point to note: the Bank of England (BoE) is likely to raise interest rates this week, which makes it probable that many of these rates will be updated afterwards if their underlying variable rate tracks the Bank Rate. We will update the page accordingly.

Best easy access savings accounts for November

The top two easy access rates remain the same as over the past couple of months: the different 5% offerings from Lemfi and Cahoot. They offer different limitations and terms, so it’s worth being clear which suits your needs.

Lemfi have a 5% rate which includes a six-month bonus, so after that period it will drop down to just over 3%. You can open the account with just £1, make as many withdrawals as you need and interest is paid monthly.

With Cahoot, the 5% is for their Sunny Day Saver account. The rate lasts for 12 months and is a variable rate - but the account is capped at paying interest on £3,000. Beyond that amount you won’t earn interest. Withdrawals are allowed as required here, too.

Beyond the top two, there’s a battle beneath them and the right savings account for you will depend on how you’ll use it, as the rates are all closely packed.

Zopa offer 4.56% but this is only for new customers - you’ll get a lower rate of 3.5% if you already have a Zopa account. While it’s a strong offering in combination with the cashback and interest on current account balances you can earn from the Zopa Biscuit account, be aware the savings account only allows three withdrawals per year. Any more and you’ll get just 2% interest for the rest of your first 12 months.

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Tembo give you a variable 4.55% on their HomeSaver account, but the bigger attraction here is that they’ll boost it to 5.5% if you are saving for a home purchase and use their mortgage service when you buy. As it’s easy access without withdrawal restrictions, you can use it at the normal rate for non-home-buying purposes too! Tembo also launched an 8% regular saver last week.

And finally, Chase’s long-standing 4.5% is still in place - a very straightforward easy access account, unlimited paying in and withdrawing, and the bonus lasts for 12 months. Any savings in here contribute towards the £1,000 needed to qualify for cashback when using the current account card, too. Like Tembo, Chase have a very decent regular saver account available also.

Best Cash ISA rates for November

A Cash ISA is simply a savings account where you don’t pay tax on the interest earned. Thankfully for many savers, the government have cancelled plans to cut the annual savings allowance from £20,000 down to £12,000 in Cash ISAs - though if you’re saving that much a year you might want to consider if investing some is the right move to make!

Right now the best on the market is with Trading 212, who are offering 4.77% to new customers who sign up with a code - just so happens we have one for you to use!

After that, Chip are next in line with their 4.75% Smart ISA, Plum offer a 4.66% Cash ISA and Ecology Building Society offer are at 4.65%.

When it comes to Cash ISAs, it’s important that you choose one which suits your expected needs and use, before opening an account.

For example, some of the above deals are only for new customers, and for others you will only get the advertised top rates for “new” money - in other words, money you are saving during the same tax year. Sometimes the providers will also not give the top rate for transfers in from other places, or withdrawals may be limited - the Ecology option right now offers just two withdrawals a year, for example. Any more and the account will be closed.

The providers do tend to change their rules and terms quite often, meaning you must double check before opening!

When investing, your capital is at risk and you may get back less than invested. Past performance doesn’t guarantee future results.