Barclays Bank Rainy Day Saver account has topped a best buy table of instant access accounts for savers with £3,000 or less.
The account, which pays 5.1% interest was given a five star rating by the independent consumer group Fairer Finance as offering a consistently high interest rate to savers.
Fairer Finance has launched a new set of ratings designed to help consumers compare easy access savings accounts based on consistency and longevity of rates—not just headline offers.
Other accounts rated five stars including Ford Money Flexible Saver with 4.35% while Saga’s Easy Access Savings Account came third with 4.3%.
For the past two years, Fairer Finance has tracked instant access savings rates, assessing how they perform over time against the base rate and the top 10% of rates available.
These new ratings aim to provide consumers with a clearer picture of which accounts maintain competitive returns, rather than those that lure savers in with high initial rates that later drop.
James Daley, managing director of Fairer Finance said: “Many banks rely on a ‘bait and switch’ approach—offering high introductory rates on easy access savings accounts before quietly cutting them later. Our new ratings are designed to reward the highest-performing savings accounts based on consistent rates over a 24-month period. This will help consumers identify the accounts that have a track record of offering good value, giving them more confidence that they won’t be penalised for their loyalty.”
The ratings are divided into two categories, balances up to £3,000 and balances of £3,000 or more, to fairly rate both high and low-balance accounts. All accounts are rated on two criteria:
1. AER score (which makes up 94% of the rating) – Fairer Finance compares an account’s interest rate to the Bank of England base rate over the last 24 months. The higher and more consistent the rate, the better the score. Only the top 10% of accounts are eligible to receive a five-star rating.
2. FSCS protection (which makes up 6% of the rating) – accounts must be covered by the Financial Services Compensation Scheme (FSCS) to qualify.
Easy access savings accounts for balances under £3,000 awarded a 5-star rating from Fairer Finance
Barclays Bank Rainy Day Saver 5.12%
Ford Money Flexible Saver with 4.35%
Saga Easy Access Savings Account 4.3%
Tandem Bank Easy Access Savings Account 4.4%
Tesco Bank Internet Saver 4.3%
RCI Bank UK Freedom Savings Account 4.45%
Easy access savings accounts for balances of £3,000+ awarded a 5-star rating from Fairer Finance:
Monument Bank Easy Access 4.55%
Barclays Bank Rainy Day Saver 5.12%
Ford Money Flexible Saver 4.75%
Tandem Bank Easy Access Savings Account 4.4%
RCI Bank UK Freedom Savings Account 4.45%
Investec Bank Plc Online Flexi Save 4.4%.
