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This comparison simply includes all savings accounts.

Santander
Everyday Current Account Santander
Open With £1
Account Type Current Account
Features Fee FREE Account Earn up to 15% cashback

Why we like it: No minimum monthly funding or monthly fee to maintain the account. Earn up to 15% cashback with Retailer Offers. Stress-free account switching in 7 days with the Current Account Switch Service. £300 ATM withdrawal per day, Arranged Overdraft facility (subject to status). Online and Mobile Banking with text and email alerts. Must be 18 or older and live in the UK permanently. 39.94% EAR overdraft charge. Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000

Starling Bank
Mobile App Bank Account Starling Bank
Open With £0
Account Type Mobile Bank Account
Features Fee FREE Account Pays 0.05% AER

Why we like it: Free current account. Pays 0.05% AER interest on balances up to £85,000. Get set up in minutes. Send money abroad: Fast and secure money transfers to bank accounts in 38 countries worldwide. No fees when you pay with your card abroad or withdraw money. Get a spotlight on your spending: See what you’ve spent instantly with real-time payment notifications. 3 month interest holiday on the first £500 of an arranged overdraft. Best British Bank and Best Current Account in 2020 at the British Bank Awards. Awarded 5 stars by Defaqto. Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000

Cashplus
Personal Current Account Cashplus
Open With £0
Account Type Current Account
Features No Credit Checks Online App

Why we like it: A bank account that can build credit history. No credit check during sign up. Apply straight from your mobile. Instant online decision. Get your Contactless Debit Mastercard within 3-5 working days. Add Creditbuilder onto your account and it could help build your credit rating at no extra cost. Deposit cash into your account at any Post Office UK branch. Money is available in your account immediately. Manage your account 24/7 from any device with the banking app - get real time balance information, statements, add payees send payments and apply for extras. Automatic payment alerts. UK based Customer Services Team. Your money is protected up to £85,000 by the FSCS (Financial Services Compensation Scheme)

Santander
123 Mini Current Account Santander
Open With £0
Account Type Childrens Current Account
Features Children 18 or under 3% AER Interest (T&Cs)

Why we like it: Can be opened by or on behalf of any child up to the age of 18. Debit or cash card available for those aged between 13 and 18. Monthly interest. No monthly fee. For children under age 13, the account must be opened in trust and managed by an adult (trustee). If you’re aged between 13 and 18 years old and live permanently in the UK you can apply online by telephone or in branch. No overdraft facility. 1% interest on the entire balance once the balance is £100, 2.00% AER/1.98% gross (variable) on the entire balance once the balance is £1,500, 3.00% AER/2.96% gross (variable) on the entire balance once the balance is £1,500 or over (up to a maximum of £2,000). Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000

Charter Savings Bank
Fixed Rate Bond Charter Savings Bank
Min deposit £1000
Term 1 Year
Interest AER 0.61%

Why we like it: Register for a free Raisin UK Account to apply for product. Interest paid on maturity. Maximum deposit £85,000. FSCS Protected. Must be UK resident and aged 18 or older. No withdrawals permitted

FCMB
Fixed Rate Bond FCMB
Min deposit £1000
Term 2 Years
Interest AER 0.88%

Why we like it: Register for a free Raisin UK Account to apply for product. Interest paid on maturity. Maximum deposit £85,000. FSCS Protected. Must be UK resident and aged 18 or older. No withdrawals permitted

FCMB
Fixed Rate Bond FCMB
Min deposit £1000
Term 3 Years
Interest AER 1.00%

Why we like it: Register for a free Raisin UK Account to apply for product. Interest paid on maturity. Maximum deposit £85,000. FSCS Protected. Must be UK resident and aged 18 or older. No withdrawals permitted

RCI Bank
Freedom Savings Account RCI Bank
Min deposit £100
Term Instant Access
Interest AER 0.4%

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)

RCI Bank
Fixed Rate Bond RCI Bank
Min deposit £1000
Term 4 Years
Interest AER 0.9%

Why we like it: Which? Recommended Savings Provider. Save from £1,000 to £1,000,000. 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 5 Years
Interest AER 0.95%

Why we like it: Which? Recommended Savings Provider. Save from £1,000 to £1,000,000. 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
Freedom Savings Account RCI Bank
Min deposit £100
Term Instant Access
Interest AER 0.4%

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)

Aldermore
Easy Access Account Aldermore
Min deposit £1000
Term Easy Access
Interest AER 0.3%

Why we like it: Market Leading. Balances from £1,000 to £1 million. Unlimited withdrawals without restriction or loss of interest. Eligible deposits covered by UK FSCS.

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Why Have A Savings Account Without Instant Access?

The issue with instant access accounts is that often their interest rate drops after the first year or they have a maximum balance over which you cannot earn interest. For more significant savings, fixed rate bonds may be more appropriate. Fixed rate bonds allow you to access higher rates of interest in exchange for restricted access. Typically, fixed rate bonds run for 1 year2 years3 years or 5 years. Normally, longer fixed rate bonds offer the highest interest.

Although the majority of banks require you to leave your savings in the bond for the duration of the term, there are some banks that are prepared to provide access to your savings.

Fixed Rate Bond Options:

-1 Year Fixed Rate Bond:

1 year fixed rate bonds ensure your money is only locked away for a relatively short period of time. You can earn a return and maintain the value of your funds relative to inflation while still giving you access to your money when you need it.

If you are not planning on using your money in the near future, you may want to consider 2 year, 3 year or 5 year fixed rate bonds as these provide a better rate of interest. However, these longer term bonds will increase the length of time during which you cannot access your savings.

-2 Year Fixed Rate Bond:

2 year fixed rate bonds are great if you don’t immediately need access to your savings, but want to keep your options open for the not too distant future. They allow you to earn a good rate of interest on your savings and help maintain the value of your money relative to inflation.

-3 Year Fixed Rate Bond:

A 3 year fixed rate bond is a good idea if you are certain you will not need access to your funds any time soon. They usually offer attractive rates of interest and help your savings to retain their value relative to inflation.

-5 Year Fixed Rate Bond:

5 year fixed rate bonds are aimed at customers who have no immediate need for their savings and generally offer much better rates of interest than shorter term bonds. They are also a great way to maintain the value of your savings relative to inflation.

Written notice 

Depending on the bank, you may be able to withdraw your money from a fixed rate bond with written notice. You often have to wait a certain number of days to receive it, typically 30 to 40 days. It should be noted that a withdrawal from a fixed rate bond will usually result in a charge, which will vary from bank to bank.

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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.