Interest Rates on UK Savings Accounts since 1980
Year | Annual Average |
---|---|
2021 | 0.35 |
2020 | 0.64 |
2019 | 1.39 |
2018 | 1.18 |
2017 | 1.00 |
2016 | 1.23 |
2015 | 1.40 |
2014 | 1.48 |
2013 | 1.77 |
2012 | 2.80 |
2011 | 2.75 |
2010 | 2.80 |
2009 | 2.21 |
2008 | 5.09 |
2007 | 5.55 |
2006 | 4.68 |
2005 | 4.92 |
2004 | 4.56 |
2003 | 3.73 |
2002 | 3.68 |
2001 | 4.64 |
2000 | 5.47 |
1999 | 4.71 |
1998 | 6.33 |
1997 | 5.45 |
1996 | 4.54 |
1995 | 5.60 |
1994 | 5.36 |
1993 | 5.66 |
1992 | 8.19 |
1991 | 10.57 |
1990 | 13.56 |
1989 | 11.96 |
1988 | 9.31 |
1987 | 9.83 |
1986 | 8.65 |
1985 | 7.57 |
1984 | 7.00 |
1983 | 6.75 |
1982 | 8.54 |
1981 | 8.90 |
1980 | 10.50 |
Use data sources for savings rates by month from which the annual averages above are derived.
Savings Accounts and Cash ISAs
Personal savings allowance introduced in April 2016, mean savings interest from regular savings accounts is paid gross and
basic-rate taxpayers can receive interest of up to £1,000 per year tax-free. £1,000 would be £50,000 at 2.0%.
So Cash-ISAs are no longer the only tax-free option.
From April 2017 we can put up to £20,000 per year
into tax-free savings whether Stock-and-Shares-ISA or Cash-ISA.
With median annual gross earnings around £31,500; the £20,000 limit is more than enough for the ordinary saver.
ISA limits history table
Savings Accounts vs Inflation
-
- For different dates on the chart:
-
- Start-Year
- End-Year
-
Please make End-Year five or more years greater than Start-Year