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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

First Direct
1st Current Account First Direct
Open With £1
Account Type Current Account
Features Fee FREE Account Regular Saver paying 1.00% AER/Gross

Why we like it: Access to Regular Saver Account paying 1.00% AER/Gross fixed for 12 months if saving between £25 and £300 a month (up to £3,600 per year). £250 interest-free overdraft (subject to status). No minimum monthly funding and no monthly account fee. Mobile banking app. UK based contact centre. Easy switching with the Current Account Switch Service. Must be 18 or older and UK resident. Get the £100 when switching as a new customer and paying in at least £1,000 within three months of the account opening

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

Investec Savings
Online Flexi Saver Investec Savings
Min deposit £5000
Term Instant Access
Interest AER 0.58%

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
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)

Investec Savings
Fixed Rate Bond Investec Savings
Min deposit £5000
Term 1 Year
Interest AER 1.05%

Why we like it: Market leading 1 year fixed rate bond. Interest paid on maturity. Automatic repayment to your linked account. Maximum deposit £250,000. FSCS Protected. Must be UK resident, have a UK address and be aged 18 or older. No withdrawals permitted. Can’t have held an Investec Online Flexi Saver or Fixed Rate Saver in the last 12 months

QIB UK Bank
Fixed Rate Bond QIB UK Bank
Min deposit £1000
Term 2 Years
Interest AER 1.25%

Why we like it: Market leading 2 year fixed rate bond. Register for a free Raisin UK Account to apply for product and receive a cash bonus. Interest paid on maturity. Maximum deposit £85,000. FSCS Protected. Must be UK resident and aged 18 or older. No withdrawals permitted

QIB UK Bank
Fixed Rate Bond QIB UK Bank
Min deposit £1000
Term 3 Years
Interest AER 1.30%

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

Aldermore
Fixed Rate Bond Aldermore
Min deposit £1000
Term 4 Years
Interest AER 1.05%

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

Cambridge & Counties Bank
Fixed Rate Bond Cambridge & Counties Bank
Min deposit £10000
Term 5 Years
Interest AER 1.29%

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

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Compare First Direct savings accounts

First Direct is a UK retail bank that operates entirely over the phone and online. Their range of savings products include accounts suitable for a variety of different types of customers, so make sure to familiarise yourself with all of the options before making a decision.

Current Accounts

If you want the best interest rates on a smaller sum of money, keeping it in your current account can be a smart move. Current accounts generally offer very good returns up to a pre-agreed deposit limit, although if you exceed this limit you will likely earn nothing on your remaining balance.

Instant Access Savings Accounts

A simple type of savings account that lets you earn interest while still having instant access to your money if you need it. First Direct instant access savings accounts allow you to instantly transfer money to any other First Direct account over the phone or online. Transfers to other banks can take longer. There may also be a limit on how often you can take money out each year without paying a fee.

Regular Savings Accounts

Many savers want to tuck a little bit away each month and build up their capital over a longer period. Regular savings accounts are designed for this and generally offer good interest rates. The only issue to consider is that you will be likely to get little back out of the high interest rate until the funds in your account start to reach a significant level. This makes a regular savings account best suited to long term saving.

Fixed Rate Bonds

For larger lump sums, a fixed rate bond is often the best way to go. It lets you generate a guaranteed return on your money in exchange for locking it away for a fixed period (generally 1-5 years). The longer you can do without your money, the better interest rate you will usually earn.

Some providers will let you take money out of a fixed rate bond early, but you will typically have to pay a penalty for doing so. This is likely to be in the form of sacrificing some of your interest payments.

Cash ISAs

ISAs are one of the most popular ways of saving in the UK as they allow British tax payers to earn interest without paying tax on deposits up to a certain size. The deposit limit for ISAs is set by the UK government and is £20,000 for the 2017/18 tax year.

You can usually choose from two main sorts of cash ISA – instant access or fixed term. Fixed term ISAs offer guaranteed rates of interest for a set period, but you cannot use your money during that period. Instant access ISAs let you put in and take out money as necessary, but usually offer lower rates of interest which are variable so can move up and down over time.

Find the best First Direct savings account for you

Getting the right savings account can make a big difference to how much you get back when you eventually need to use the money you have put aside. Our savings account comparison tool lets you contrast the different factors, including the interest rates offered with various types of accounts. We keep the tool updated with all the best deals on savings accounts from across the industry, so make sure to visit us regularly so you don’t miss out.

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