Overview

• After the Bank of England trimmed its base rate to 4.0%, major high-street banks cut easy-access and ISA rates to around 1.05–1.15%, sharply reducing returns.
• Challenger banks such as Chase and Cahoot are rolling out easy-access offers at 4.75% (including a 2.25% 12-month bonus from August 14) and 4.55%, respectively.
• Top fixed-rate cash ISAs and one-year bonds from providers like Vanquis and Atom still yield in the mid-4% range, giving savers an opportunity to lock in higher rates.
• Personal-finance experts recommend switching or locking into these higher-yield accounts quickly, noting FSCS protection up to £85,000 per institution and the £20,000 annual ISA allowance.
• Savers are urged to diarise bonus expiries and be mindful of provider notice periods, since many attractive rates revert after 12 months or short warning windows.