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This comparison simply includes all savings accounts.

Ulster Bank
eSavings Ulster Bank
Min deposit £1
Term Instant Access
Interest AER 1.25%

Why we like it: MARKET LEADING. 1.25% AER Gross (variable). Open with £1. A simple instant access savings account. Manage your account online, by telephone banking or via our mobile app. You'll need to be 18 or over and a UK resident

RCI Bank
Freedom Savings Account RCI Bank
Min deposit £100
Term Instant Access
Interest AER 1.20%

Why we like it: No notice period. Deposit from £100. Interest paid monthly or annually. Apply in minutes.

Ford Money
Flexible Saver Ford Money
Min deposit £1
Term Instant Access
Interest AER 1.12%

Why we like it: Open with £1. Unlimited deposits and withdrawals. Open an account singly or jointly. Interest can be paid monthly or annually. Eligible deposits covered by UK FSCS.

B
Current and Savings Account B
Open With £1
Account Type Current Account
Interest AER 0.5%

Why we like it: INNOVATIVE NEW BANKING SERVICE powered by Clydesdale and Yorkshire Banks. Get your current account and instant access savings account working together. Earn 0.50% AER on ALL instant access credit balances and 0.25% AER on current account balances up to £2,000. Fee free

Masthaven Bank
Flexible Term Saver Masthaven Bank
Min deposit £500
Term 6 Months
Interest AER 1.00%

Why we like it: 6 month term. Interest can be paid monthly or annually. Minimum deposit £500, Maximum deposit £250,000. No withdrawals permitted. FSCS Protected

Masthaven Bank
Flexible Term Saver Masthaven Bank
Min deposit £500
Term 9 Months
Interest AER 1.30%

Why we like it: 9 month term. Interest can be paid monthly or annually. Minimum deposit £500, Maximum deposit £250,000. No withdrawals permitted. FSCS Protected

Masthaven Bank
Flexible Term Saver Masthaven Bank
Min deposit £500
Term 18 Months
Interest AER 1.70%

Why we like it: 18 month term. Interest can be paid monthly or annually. Minimum deposit £500, Maximum deposit £250,000. No withdrawals permitted. FSCS Protected

Ford Money
Fixed Saver Ford Money
Min deposit £500
Term 1 Year
Gross AER 1.70%

Why we like it: Minimum deposit £500. Open an account singly or jointly. Interest can be paid monthly or annually. Eligible deposits covered by UK FSCS.

The Access Bank UK
Fixed Rate Bond The Access Bank UK
Min deposit £5000
Term 1 Year
Interest AER 1.85%

Why we like it: Save from £5,000 to £500,000. No additional deposits or withdrawals permitted. FSCS Protected

Masthaven Bank
Flexible Term Saver Masthaven Bank
Min deposit £500
Term 30 Months
Interest AER 1.85%

Why we like it: 30 month term. Interest can be paid monthly or annually. Minimum deposit £500, Maximum deposit £250,000. No withdrawals permitted. FSCS Protected

The Access Bank UK
Fixed Rate Bond The Access Bank UK
Min deposit £5000
Term 2 Years
Interest AER 2.00%

Why we like it: Save from £5,000 to £500,000. No additional deposits or withdrawals permitted. FSCS Protected

Vanquis
Fixed Rate Bond Vanquis
Min deposit £1000
Term 4 Years
Interest AER 2.10%

Why we like it: Minimum deposit £1,000. Interest paid monthly or annually. Apply online. Eligible deposits covered by UK FSCS.

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RCI Freedom Savings Account

A great way to focus on your savings is with the RCI Freedom Savings Account.

With one of the UK's top rates, unlimited access and a 7 days per week UK support service, the RCI Freedom Savings account is a great option to kick-start a new savings habit.
Unlike other savings accounts, you can enjoy free, unlimited payments and withdrawals

The RCI Bank Freedom Savings Account, which has no restrictions on access, pays a competitive 1.50% AER (variable). This places the account at the top of the easy access savings tables.

You can open the Freedom Savings account with a relatively low £100 deposit which also compares favourably to the £1,000 required by some other savings accounts.

 RCI provides, as standard:

  • Competitive easy access savings rate
  • No penalties, tiers, fees or notice periods
  • Pay in from £100 up to £1m
  • Interest paid monthly or annually
  • Deposits are protected up to €100,000 by their deposit guarantee scheme
  • Unlike many accounts which are internet-only, you can operate the Freedom account both online and on the phone

However, if you are planning on investing a large sum of money (around the £70,000 mark) it's important to understand that RCI bank does NOT fall under the UK Financial Services Compensation but is instead protected by the French Deposit Guarantee Scheme (Fonds de Garantie des Dépôts et de Résolution or FGDR) which protects up to the sterling equivalent of EUR 100,000 of your cash. This covers the first £85,000 of savings per person, per banking institution, if your bank or building society goes bust. Although this figure is variable depending on the exchange rate.

Useful Information to Know:

  • The Freedom Savings Account is available to UK residents aged 18 or older.
  • You need to pay in and out through a linked UK current account.
  • Your first payment must be at least £100.
  • Keep your Freedom Savings Account open by maintaining an account balance of at least £1.
  • Existing customers can check their current rate here.

What makes it special?

As well as being one of the most competitively-priced, RCI's Freedom account is entirely 'clean'. With no temporary eye-catching bonus, the rate you see is (albeit variable) the rate you get. In cases where a temporary bonus puts the rate much higher than its nearest competitors, opting for a bonus account can make sense, so long as you are proactive about switching again when it expires. For those people who do not want to switch accounts regularly however, this is a great way to avoid hassle. Some banks and building societies write to some savers to let them know when their bonus is about to expire. When they do, they will give at least 14 days' warning. But others don't. These include Lloyds TSB Easy Saver and e-Savings, AA Internet Extra, part of Halifax, Santander Instant Saver 3 and e-Savings, Alliance & Leicester Online Saver.

Finally, being able to access your account with no restriction and the low first payment minimum are definite plus points and make this account a very attractive way to start saving.

 

 

 

 

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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.