Best UK Savings Rates — August 2026 | 8% Regular Savers, 5% Fixed & More
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What does the Bank of England decision mean for savers in August 2026?
Okay, welcome back to your savings rate update for August. The base rate's still sitting at 3.75%. The Bank of England met on the 30th of July and held again, but it was closer than the headline suggests. A six to three vote and the three dissenters weren't calling for a cut. They wanted to hike to 4%. So the short version for savers is genuinely good this month. Rates are holding, and if anything, the fixed market has really firmed up. You can now lock in 5% on a fixed bond. The top regular savers have jumped to a whopping 8%, although they do come with important catches that you need to be aware of, and easy access accounts are still topping 5% if you move fast on a couple of deadlines. As always, everything we mentioned today is available on depositscout.com.
There you can filter by type, see full details, run the savings and tax calculators, and check the rate history graphs. Those graphs are genuinely useful. They show you whether a provider tends to hold its rates or reduce them. And if an account's sitting lower than usual right now, that's a sign to hold off. wait a few days or a week and see if it climbs back before you open it. Okay, links in the description for depositscout.com. It's our site. We built it. It's completely free. And if you'd like to support the channel, do go and have a look. So Jan, before we jump into easy access, shall we do a quick roundup of the switch offers?
Yeah, Johnny, what a great time to be a saver in the UK and also a great time to switch banks at the moment. Let's start with the easiest one, Bank of Scotland, their classic account. It's available until the 6th of August, so that might be worth mentioning. You're getting £175 and you only need to set up three direct debits. that's it. HSBC standard account also worth mentioning 220 pounds. Um, also relatively easy to get 2000 pounds that you need to deposit once. And then you have to make 500 pounds of card spent in 60 days. Um, Really accessible. Everyone should be able to benefit from that. Barclays has a £600 switching bonus for their Premier account. Really compelling as well. Deadline is 27th of August.
And in order to qualify for that, you need to obviously have Premier eligibility, which means £75,000 of income or £100,000 in savings. And then you need to spend £4,000 in 30 days. And if you want to see all the switch offers, have a look at depositscout.com. We regularly compare them. We tracked them. You can get an easy overview of all the other ones that we didn't mention this episode. So maybe there's one that's specifically compelling to you. And then you can decide whether you want to sign up.
Okay, let's talk about easy access accounts. Revolut is somewhat sitting at the top of the table, but the offer that they have is going to expire on the 4th of August. But they're offering, I'll just make this quick because it's been on the table for a while, they're offering 5% up to £25,000. And once you've gone past that figure, the rate reverts to whatever your plan currently is. So if you're using standard, that's 2.9%. So Anything over 25K, you end up with this blended rate. It's not very compelling, honestly, and it's ending soon. If you want a 5% rate, then you could check out Lemphi, who are an international money transfer company, but they've partnered with ClearBank to offer a 5% rate that does have a bonus element of just six months.
So it will revert after six months to 3.04%. It's FSCS protected because it's through ClearBank. I have opened the account, I have to say, and I have received interest from the account. It's legitimate, at least in my opinion. We've had people reach out to us who have been concerned about it. But we've also had people in the comments that said they have used that account. So do your own research, check it out, see who ClearBank are. But that is a good way to get 5%. Tembo are offering the HomeSaver Easy Access account. This one's been on the table for a while now. It's 4.55%. That includes a 1.55% fixed bonus that runs for 12 months. After that, we have Saga, typically marketed towards the over 50s group.
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