This comparison simply includes all savings accounts.
Best TSB Current Account
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
Why we like it: MARKET LEADING INSTANT ACCESS ACCOUNT. Unlimited payments and withdrawals. Interest paid annually. Open in a single or a joint name. Maximum deposit £250,000. FSCS Protected. Winner of Platinum Feefo Trusted Service Award in 2021. Must be UK resident and be aged 18 or older
Why we like it: Interest paid annually. Unlimited deposits and withdrawals. Open and manage online. FSCS Protected. Must be UK resident and be aged 18 or older
Why we like it: Easy access savings account that tracks the Bank of England base rate. Wave goodbye to the constant cycle of account hopping and forget waiting for banks to pass on higher interest rates. Interest rate moves with the Bank of England base rate, guaranteeing a fixed margin of up to 0.5% below, and adjusts the very next day. Easy access to your money with once a month withdrawals, without notice and without fees. Earn daily interest on your money, and experience the power of compounding to make your savings work harder. Maximum deposit £250,000. Wombat has partnered with GB Bank to bring you the Base Rate Tracker. GB Bank is an award-winning, fully authorised and regulated UK bank. FSCS eligible on your deposits. Must be UK resident. Must be aged 18 or older
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.
Why we like it: Tiered interest: £1 to £10,000 – 4.80% Gross/AER, £10,001 to £50,000 – 4.80% Gross/AER, £50,001 to £500,000 – 4.80% Gross/AER. 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
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
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)
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)
Why we like it: Interest paid monthly or annually. Open in a single or joint name. Unlimited deposits and withdrawals. Covered by the FSCS. Must be UK resident. Must be aged 16 or older
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)
Why we like it: MARKET LEADING 6 MONTH FIXED RATE BOND. Interest paid at maturity. Open in a single or a joint name. Maximum deposit £250,000. FSCS Protected. Winner of Platinum Feefo Trusted Service Award in 2021. Must be UK resident and be aged 18 or older. No withdrawals permitted
TSB Classic Plus Current Account
Described as the ‘current account that gives you plusness’, TSB offer 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 is well-suited to anyone who finds it difficult to meet the minimum payments of some other accounts.
They also offer 3% AER (variable) interest on balances up to £1,500. Interest is paid monthly and to earn it you simply pay in a minimum of £500 a month and register for internet banking, paperless statements and paperless correspondence.
Unusually, you don't need to have any direct debits going out of the account if it's just the interest you want.
TSB also offer, as standard:
- TSB Visa debit card with contactless option
- An optional fee free £25 planned overdraft is available
- An account with no monthly fees
- Full access to your account online, through mobile banking or in branch
- TSB also has the full £75,000 UK savings safety guarantee
The TSB Classic Plus pays 3% AER variable on the first £1,500 in your account, making it the top account for lower sums.
One of the biggest incentives on offer is the opportunity to earn 5% cashback a month on the first £100 of contactless payments.Take advantage of this and you could earn up to £104 in a year. Usually reserved for ‘cash back credit cards’ this is a great way to spend and see some returns.
What is cashback?
Cashback, defined simply, is money back from the purchases you make. So at 2% you would earn back £2 if you paid £200 for something. These small savings do add up so it’s very worth pursuing cashback deals on items you would usually buy and this offer is a great way to get started with cashback and contactless payments.
Useful Information to Know
- The interest rate will be 3% on up to £1,500.
- You can earn £5 cashback every month just for having two Direct Debits per month.
- Plus another £5 cashback every month if you spend with your debit card at least 20 times a month
With this account you must log in to your internet banking regularly to check your paperless correspondence. If you don’t log in within 12 months, TSB may have turn off your paperless correspondence, which will mean you won’t get your interest.
Overall, this account is particularly great for those people who pay in lower sums each month. The £25 fee free overdraft is a safe way to avoid accidental bank charges and keep your finances in order.
