This website uses cookies to improve user experience. By using our website you consent to all cookies in accordance with our Cookie Policy. Read more

This comparison simply includes all savings accounts.

RCI Bank
Freedom Savings Account RCI Bank
Min deposit £100
Term Instant Access
Interest AER 0.57%

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 0.5%

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

Aldermore
Notice Cash ISA Aldermore
Min deposit £1000
Term 30 Day Notice
Interest AER 0.55%

Why we like it: Unlimited withdrawals subject to 30 days notice.

Aldermore
30 Day Notice Account Aldermore
Min deposit £1000
Term 30 Day Notice
Interest AER 0.55%

Why we like it: Unlimited withdrawals subject to 30 days notice.

RCI Bank
95 Day Notice Account RCI Bank
Min deposit £1000
Term 95 Day Notice
Interest AER 0.65%

Why we like it: Unlimited withdrawals subject to 95 days notice.

Aldermore
120 Day Notice Account Aldermore
Min deposit £1000
Term 120 Day Notice
Interest AER 1.10%

Why we like it: Unlimited withdrawals subject to 120 days notice.

Aldermore
Fixed Rate Bond Aldermore
Min deposit £1000
Term 1 Year
Interest AER 1.26%

Why we like it: 1 year term, minimum deposit £1,000, no withdrawals permitted. FSCS Protected

Aldermore
Fixed Rate Bond Aldermore
Min deposit £1000
Term 2 Years
Interest AER 1.36%

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

Aldermore
Fixed Rate Bond Aldermore
Min deposit £1000
Term 3 Years
Interest AER 1.40%

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

Aldermore
Fixed Rate Bond Aldermore
Min deposit £1000
Term 4 Years
Interest AER 1.42%

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

Aldermore
Fixed Rate Bond Aldermore
Min deposit £1000
Term 5 Years
Interest AER 1.45%

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

Santander
123 Current Account Santander
Open With £500
Account Type Current Account
Interest AER 0.6%

Why we like it: Earn 0.60% 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.

load more

Compare Marks & Spencer savings accounts

Marks & Spencer’s financial services division is known as M&S Bank. They provide a number of different savings options for their customers, which might be a good fit for you. This will depend on your personal finances and saving objectives.

Below we explain the main types of accounts M&S Bank offers to savers.

Current Accounts

If your savings are relatively modest at this point, keeping them in your current account might be your best move. Current accounts generally pay good rates of interest, but only up to a certain deposit limit. 

When your savings exceed the deposit limit on your account, you will normally not earn any interest on the excess balance. This should be moved to an alternative account to ensure the best overall return.

Instant Access Savings Accounts

Flexible saving can be very appealing, especially to those who aren’t sure what their financial situation will be like in the near future. An instant access savings account lets you put money in and take it out when it suits you. However, bear in mind there may be a limit on how many withdrawals you can make each year.

Fixed Rate Bonds

If you want to get a guaranteed return on a lump sum, a fixed rate bond is ideal. These pay a set rate of interested over a pre-agreed period. The trade-off is that you cannot access your money during this period, so fixed rate bonds are generally best for long term saving. The longer you can afford to lock your money away, the better interest rate you will normally get.

Cash ISAs

ISAs allow UK taxpayers to earn tax-free interest on their savings, which make them very appealing. There is a limit to how much you can put into an ISA, which is set each year by the government. For 2017/18 this is £20,000.

ISAs will generally fall into one of two camps – fixed term or instant access. A fixed term ISA works like a fixed rate bond, giving a guaranteed interest rate for a set period during which you can’t use your money. Instant access ISAs give variable rates of interest, but provide the freedom to take your money out whenever you want and put more money in later if you can afford to.

ISAs often give slightly lower rates than other types of savings accounts, so this must be offset against the tax incentives on offer to see which type of savings account is the best value overall.

Find the best Marks & Spencer savings account for you

Given that there are many different brands and products on the market to choose from, getting the right one for you can seem a daunting task. Our savings account comparison tool at the top of the page lets you see the different benefits, including all the latest interest rates, of various accounts so you can make an informed decision.

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

Newsletter signup

Sign up to our Newsletter to get exclusive news and offers direct to your inbox.

Let's get social now! Twitter Facebook

About us

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.