Defaqto reveals inaugural Banking Award qualifiers

01 July 2026

Products from 21 providers recognised following assessment of more than 2,100 savings products

Of more than 2,100 savings products assessed across the UK market, just 29 products - from 21 providers - qualified for Defaqto's inaugural Banking Award.

Qualifying providers ranged from major consumer brands and building societies to specialist savings providers.

The Defaqto Banking Award has been developed to recognise savings products that have maintained competitive rates over time, helping advisers and consumers identify products that have delivered consistent value rather than strong performance at a single point in time.

Katie Brain, Banking Expert at Defaqto, said:

"Consumers and advisers can easily see which products are competitive today, but understanding how those products perform over time is much harder.

"The products that qualified demonstrated sustained competitiveness throughout the assessment period, earning recognition for their ability to continue delivering value to savers.

"By analysing performance over a full year, we were able to recognise providers that continued to deliver competitive outcomes for savers over time."

Defaqto assessed 2,114 savings products and analysed 297,978 savings product data points over a 12 month period.

Products were assessed using independently tracked market data and a pass or fail methodology. To qualify, products were required to rank among the leading accounts in their category for most of the assessment period, perform strongly in the final quarter and remain widely available to consumers throughout.

Kent Reliance qualified in four savings categories, while Charter Savings Bank qualified in three, highlighting the ability of some providers to deliver competitive outcomes across multiple product lines.

The Defaqto Banking Award uses a robust pass or fail assessment model as an independent mark of quality. Products either qualified or didn’t - the award does not rank providers.