The best savings account for £50,000 is likely to be the one that pays you the most interest while giving you the level of access that you need. You can usually get a better rate if you're willing to give a certain amount of notice before making withdrawals or to commit to not making withdrawals at all for an agreed period. Plus, since you can invest £20,000 each year into an ISA, part of your savings can earn you tax-free interest. We scour savings rates daily to help you find a good home for your hard-earned £50,000.
We scan the savings market daily and automatically update the best offers highlighted throughout this guide.
If you haven't already used your 2024/2025 ISA allowance of £20,000, then consider splitting your £50,000 into 2 (or more) accounts so that you can make the most of your tax-free savings allowance.
In terms of tax-free savings, Moneybox is currently offering 5.16% on an easy access ISA. If you're happy to give 30 days notice before making any withdrawals, then Monument Bank is currently offering 5.13%. If you're happy to consider a fixed-rate ISA (where you won't be able to access your savings during the fixed term), you could earn 4.8% over 12 months with Punjab National Bank (International) Limited or 5.05% over 12 months with Virgin Money.
For the remaining £30,000, outside of ISAs, you could earn 5.01% with easy access at Monument Bank, 5.25% on United Trust Bank's 180-day notice account or 5.25% on Atom Bank's 6-month fixed-rate bond (note that you typically can't access your money at all with a fixed-rate bond).
| Best easy access | Moneybox – Moneybox Cash ISA (5.16%) |
|---|---|
| Best cash ISA | Moneybox – Moneybox Cash ISA (5.16%) |
| Best fixed-rate bond | Atom Bank – 6 Month Fixed Saver (5.25%) |
| Best notice account | United Trust Bank – UTB 180 Day Notice Base Rate Tracker (5.25%) |
| Best current account | Kroo (4.35%) |
Even greater returns may be possible with investment products such as a stocks and shares ISA, if you're willing to risk getting back less than you originally invested. Only consider stocks if you won't need to spend the money for several years (5 years is a widely-used rule of thumb).
With £50,000 in Monument Bank's easy access account paying 5.01%, you could earn £2,505.00 over a year, or £208.75 per month. United Trust Bank's 5.25% 180-day notice account would pay £2,625.00 over a year (£218.75 monthly) on £50,000, while Atom Bank's 6-month fixed rate bond would pay £2,625.00 over a year (£218.75 monthly).
If you opted to put the first £20,000 of your savings into an ISA, that could earn £1,032.00 over a year, or £86.00 per month in Moneybox's easy access cash ISA paying 5.16%. £20,000 in Aldermore's 4.5% 30-day notice account would pay £900.00 over a year (£75.00 monthly), while £20,000 in Punjab National Bank (International) Limited's 4.8% 1-year fixed-rate ISA would pay £960.00 over a year (£80.00 monthly).