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This comparison simply includes all savings accounts.

Chip
Instant Access Account Chip
Min deposit £1
Term Instant Access
Interest AER 4.84%

Why we like it: A new savings account from Chip built to move with the Bank of England and reward you faster than the banks. Interest paid monthly. Deposit and withdraw almost instantly. No fees or charges for holding account. FSCS eligible on your deposits. Must be UK resident. Must be aged 18 or older.

Yorkshire Building Society
Easy Access Saver Yorkshire Building Society
Min deposit £1
Term Instant Access
Interest AER 4.80%

Why we like it: Save from £1. Unlimited payments and withdrawals. Interest paid annually. Open in a single or a joint name. Maximum deposit £500,000. Open and manage account online. FSCS Protected. Must be UK resident. Must be aged 16 or older

Post Office
Online Saver Account Post Office
Min deposit £1
Term Instant Access
Interest AER 4.75%

Why we like it: Choose monthly or annual interest payments. Unlimited deposits and withdrawals. 24/7 access to your savings. Open and manage online. After 12 months the rate will revert to the underlying rate, currently 1.55% gross/AER variable. Post Office Online Saver is provided by Bank of Ireland UK. Must be UK resident. Must be aged 18 or older. FSCS protected

RCI Bank
Freedom Savings Account RCI Bank
Min deposit £100
Term Instant Access
Interest AER 4.75%

Why we like it: Which? Recommended Savings Provider. No notice period. Deposit from £100. Interest paid monthly or annually. Apply in minutes. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services. Compensation Scheme (FSCS)

Investec Savings
Online Flexi Saver Investec Savings
Min deposit £5000
Term Instant Access
Interest AER 4.70%

Why we like it: Instant access to your savings. Unlimited deposits and withdrawals. Interest paid monthly, either to a linked current account, or adding it to your Online Flexi Saver account. Easy application process, you just need a UK mobile phone and UK driving licence or passport. Manage account online. Maximum balance £250,000. Must be aged 18 or older and have a UK address. Must have a linked UK current account. Your eligible deposits with Investec Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)

RCI Bank
E-Volve 14 Day Notice Account RCI Bank
Min deposit £1000
Term 14 Day Notice
Interest AER 4.80%

Why we like it: All funds deposited into the RCI Bank E-Volve Savings 14 Day Notice Account will be used to fund pure electric vehicles and charging facilities. Interest paid monthly or annually. Manage account online. UK-based support, seven days a week. Which? Recommended Savings Provider. Unlimited withdrawals subject to 14 days notice. Must be UK resident. Must be aged 18 or older. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)

Investec Savings
90 Day Notice Account Investec Savings
Min deposit £5000
Term 90 Day Notice
Interest AER 5.25%

Why we like it: Unlimited deposits and withdrawals. Interest paid monthly: can be added to your Notice Saver or paid to your linked account. Easy application process, you just need a UK mobile phone and UK driving licence or passport. Manage account online. Maximum balance £250,000. Withdrawals subject to 90 days notice. Must be aged 18 or older and have a UK address. Must have a linked UK current account

Aldermore
Fixed Rate Bond Aldermore
Min deposit £1000
Term 9 Months
Interest AER 5.05%

Why we like it: 9 month term, minimum deposit £1,000, no withdrawals permitted. FSCS Protected

Aldermore
Fixed Rate Bond Aldermore
Min deposit £1000
Term 1 Year
Interest AER 5.11%

Why we like it: 1 year term, minimum deposit £1,000, no withdrawals permitted. FSCS Protected

Aldermore
Fixed Rate Bond Aldermore
Min deposit £1000
Term 18 Months
Interest AER 4.65%

Why we like it: Minimum deposit £1,000 - No withdrawals permitted - FSCS Protected

RCI Bank
Fixed Rate Bond RCI Bank
Min deposit £1000
Term 2 Years
Interest AER 5.05%

Why we like it: MARKET LEADING 2 YEAR FIXED RATE BOND. Which? Recommended Savings Provider. Save from £1,000 to £250,000. No withdrawals before the end of the term. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)

RCI Bank
Fixed Rate Bond RCI Bank
Min deposit £1000
Term 3 Years
Interest AER 4.70%

Why we like it: MARKET LEADING 3 YEAR FIXED RATE BOND. Which? Recommended Savings Provider. Save from £1,000 to £250,000. No withdrawals before the end of the term. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)

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Compare Current Account Rewards

Current accounts that reward you when you spend

There are a lot of current accounts around at the moment that are offering ongoing rewards for making minimum payments in to your account or simply switching to them. Below are a selection of some of the best deals around at the moment.

1) Cashback Rewards

NatWest Reward Account

NatWest offer a cashback reward account. There are no minimum monthly payments making it a great option for those who are unable to meet the high minimum payment requests of some other accounts. There is a £3 charge per month but this can soon be made up by the cashback rewards.

The rewards you can earn on this account are similar to the Santander 123 account in that you can earn cashback on your household bills. As this account is a cheaper option than the Santander account, it’s a great choice for those who pay a lot of household bills out of one account and would like to see some return on that.

The scheme is quite simple, you can automatically earn 3% cashback on seven kinds of household bills, including council tax. As soon as you reach £5 in rewards you can convert it to money and transfer in to your current account or even use it towards your NatWest credit card balance.

NatWest state that:

‘There's no limit to the rewards you can earn. On average, currently our customers earn £120 per year in rewards, based on average monthly Direct Debits of £333 (£4,000 per year) and excluding the monthly fee.’

Santander 123

Also providing rewards in the form of cashback on your household bills, this account charges £5 a month which is automatically taken out.

The cashback you can receive on your household bills includes:

  • 1% cashback on water and council tax bills and on your Santander monthly mortgage payments (up to a maximum of £1,000).
  • 2% cashback on gas bills and electricity bills.
  • 3% cashback on mobile, home phone, broadband and paid-for TV packages.

You will also earn interest up to £20,000 on this account.

Santander 123 Lite

If you’re not looking for high interest rates but are interested in the cashback rewards then the Lite account may suit you, as the £5 account fee of the original 123 account is reduced to £1.

You will receive the same cashback on monthly bills and still have access to the 123 World offers and special deals which Santander offer as standard.

To qualify for the cashback on both of these accounts you must:

  • Pay at least £500 into your account each month
  • Have at least two active Direct Debits - you'll receive cashback on any qualifying household bills you pay by Direct Debit

Useful to Know

  • Household bills don’t include TV licence, maintenance contracts (e.g. boiler repair cover), other insurance contracts, commercial use or commercial mortgages.

TSB Classic Plus Current Account

TSB are also currently offering a cashback reward by giving 5% interest on the first £100 of contactless payments that you make every month for a year.

Apart from this incentive, TSB offers a great deal on its Classic Plus current account. This account has one of the lowest minimum monthly pay-ins at £500 per month , so it is well-suited to anyone who finds it difficult to meet the minimum payments of some other accounts.

They also offer a high rate of interest on balances up to £2,000. Interest is paid monthly and to earn it you simply pay in the minimum per month, register for internet banking, request paperless statements and sign up for paperless correspondence.

2) Cash Rewards

Currently the Co-operative banks and Halifax are both offering monthly cash rewards for switching to them.

Co-operative

The Co-operative’s Everyday Rewards programme allows you to earn up to £5.50 per month for switching and depositing £800 a month in the account with four active Direct Debits The Co-op are also currently offering a joining reward of a free £150.

Halifax

Alternatively the Halifax Reward current account will pay £5 into your account each month, totalling £60 in a year. To earn this reward you must pay £750 a month and pay two different Direct Debits from the account to trigger the bonus. They're also offering £100 in cash for switching to their account.

First Direct

First Direct are currently offering £100 cash for switching to them, which is more than the monthly reward totals of both Halifax and Co-operative.

First Direct do not pay any interest on your money held by them, but as a reward they will pay you £100 for joining them.

They will also pay you a £100 if you leave them in the event that you are not satisfied with their customer service. Both are subject to terms. You can also benefit from an interest free overdraft up to £250, which is currently the highest in the market.

HSBC

If you’re looking for your account to work a bit harder then HSBC’s Advance or Premier accounts could be for you. HSBC are currently offering the following rewards:

  • Open and switch to one of these accounts and you'll get £150
  • Stay for a year, you'll get a further £50 bonus
  • You’ll also get a 0% overdraft for six months when you open the account, though the limit you get is credit score dependent

However, the account has a high minimum monthly pay-in at £1,750 a month so consider whether you'll be able to meet this before opting for it.




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Simplysavingsaccounts.co.uk is a trading style of Fair Investment Company Ltd.

We've been comparing savings and current accounts for many years so you can trust you're in good hands.