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This comparison simply includes all savings accounts.

RCI Bank
Freedom Savings Account RCI Bank
Min deposit £100
Term Instant Access
Interest AER 0.72%

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)

Shawbrook Bank
45 Day Notice Account Shawbrook Bank
Min deposit £1000
Term 45 Days Notice
Interest AER 0.6%

Why we like it: Interest can be paid monthly or annually. £500,000 maximum balance. FSCS Protected. Must be UK resident and aged 18 or older. Unlimited withdrawals subject to 45 days notice

Shawbrook Bank
120 Day Notice Account Shawbrook Bank
Min deposit £1000
Term 120 Days Notice
Interest AER 0.7%

Why we like it: Interest can be paid monthly or annually. £500,000 maximum balance. FSCS Protected. Must be UK resident and aged 18 or older. Unlimited withdrawals subject to 45 days notice

Habib Bank Zurich
Fixed Rate Bond Habib Bank Zurich
Min deposit £1000
Term 1 Year
Interest AER 1.00%

Why we like it: Minimum deposit £1000. No withdrawals permitted. Apply online. Eligible deposits covered by UK FSCS.

Hodge Bank
Fixed Rate Bond Hodge Bank
Min deposit £1000
Term 18 Months
Interest AER 0.95%

Why we like it: Minimum deposit £1,000. Interest paid at maturity. No withdrawals permitted. Apply online. Eligible deposits covered by UK FSCS.

RCI Bank
Fixed Rate Bond RCI Bank
Min deposit £1000
Term 2 Years
Interest AER 1.05%

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 3 Years
Interest AER 1.20%

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 4 Years
Interest AER 1.35%

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 1.40%

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)

Santander
123 Current Account Santander
Open With £500
Account Type Current Account
Interest AER 1.00%

Why we like it: Earn 1.00% AER (variable) interest on balances up to a maximum of £20,000. Up to 3% CASHBACK on various household bills. Monthly fee of £5. Cashback capped at £5 for each cashback tier each month. Must pay in £500 pm.

Think Money
Mobile App Bank Account Think Money
Maximum Monthly Fee £10
Account Type Mobile Bank Account
Features A New Way to manage your money

Why we like it: Check where you’re up to anytime, anywhere with our app and online banking. Keep track of your money with real-time balance and transaction details. Instant spending alerts. Send money in seconds to your existing payees or set up new ones. Contactless debit card. Pay in cash and cheques at the Post Office. Use your fingerprint or facial recognition as a way to access your account. Lock your card if you lose it, and unlock it again if it turns up. No minimum monthly pay in. No fees if we’re refusing a payment due to lack of funds (such as if a Direct Debit bounces). No credit checks. Improve your credit score. Apply in a few minutes with no tricky questions

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.

Latest news

Pensioner Bond Maturity - 5 Ideas For Your Cash

From January 2018 over 900,000 people who invested in pensioner bonds will start to see their bonds mature. Savers who have been enjoying 4% pa are going to get a shock when they look for comparable returns from cash in the current market. We have put together 5 ideas for your cash in 2018

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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.