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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 1.42%

Why we like it: 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 1.25%

Why we like it: Earn 1.00% gross/AER on balances from £1,000 to £1 million. Unlimited withdrawals without restriction or loss of interest.

The Access Bank UK
Fixed Rate Bond The Access Bank UK
Min deposit £5000
Term 1 Year
Interest AER 1.90%

Why we like it: MARKET LEADING 1 YEAR FIXED RATE BOND. Save from £5,000 to £500,000. No additional deposits or withdrawals permitted. FSCS Protected

The Access Bank UK
Fixed Rate Bond The Access Bank UK
Min deposit £5000
Term 2 Years
Interest AER 2.20%

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

RCI Bank
Fixed Rate Bond RCI Bank
Min deposit £1000
Term 3 Years
Interest AER 2.36%

Why we like it: 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)

Kuflink
Innovative Finance ISA (IFISA) Kuflink
Min deposit £100
Term 5 Years
Annual Interest Target rate 7.00%

Why we like it: Why we like it: Up to £250 cashback for new investors.1, 3 or 5 year fixed term. Invest from £100 up to £20,000 this tax year (2018/19) and/or transfer in from an existing Cash ISA, Stocks & Shares ISA or IFISA. Secured by UK property. No platform or investment fees. Interest paid annually. Returns are not guaranteed and your actual returns may vary. Capital is at risk

Disclaimer: When making a peer to business loan, your capital lent to a borrower is not covered in the event of loss by the FSCS

Kuflink
Innovative Finance ISA (IFISA) Kuflink
Min deposit £100
Term 3 Years
Annual Interest Target rate 6.10%

Why we like it: Why we like it: Up to £250 cashback for new investors.1, 3 or 5 year fixed term. Invest from £100 up to £20,000 this tax year (2018/19) and/or transfer in from an existing Cash ISA, Stocks & Shares ISA or IFISA. Secured by UK property. No platform or investment fees. Interest paid annually. Returns are not guaranteed and your actual returns may vary. Capital is at risk

Disclaimer: When making a peer to business loan, your capital lent to a borrower is not covered in the event of loss by the FSCS

Kuflink
Innovative Finance ISA (IFISA) Kuflink
Min deposit £100
Term 1 Year
Annual Interest Target rate 5.00%

Why we like it: Why we like it: Up to £250 cashback for new investors.1, 3 or 5 year fixed term. Invest from £100 up to £20,000 this tax year (2018/19) and/or transfer in from an existing Cash ISA, Stocks & Shares ISA or IFISA. Secured by UK property. No platform or investment fees. Interest paid annually. Returns are not guaranteed and your actual returns may vary. Capital is at risk

Disclaimer: When making a peer to business loan, your capital lent to a borrower is not covered in the event of loss by the FSCS

easyMoney
Classic Innovative Finance ISA (IFISA) easyMoney
Min deposit £10000
Term No Fixed Term
Annual Interest Target rate 7.28%

Why we like it: Invest up to £20,000 this tax year (2018/19) and/or transfer in from an existing Cash ISA, Stocks & Shares ISA or IFISA. When you join the easyMoney family you will automatically become an easyMoney plus card member, offering savings up to 55% at over 100 of Britain’s biggest retailers and more! e-Money Capital Ltd trading as easyMoney is authorised and regulated by the FCA (FRN 231680). As with all investing, your capital is at risk when you lend to businesses and returns are not guaranteed. No FSCS. For more details please refer to our full risk statement.

Disclaimer: When making a peer to business loan, your capital lent to a borrower is not covered in the event of loss by the FSCS

Nationwide
FlexDirect Current Account Nationwide
Open With £1000
Account Type Current Account
Interest AER 5.00%

Why we like it: 5.00% interest for 12 months on balances up to £2,500 for the first year. You must pay in £1,000 or more each month to receive interest (excluding transfers from any Nationwide account held by you or anyone else). 12 month fee-free arranged overdraft available. No monthly fee. Must be aged 18 or older.

Santander
123 Current Account Santander
Open With £500
Account Type Current Account
Interest AER 1.50%

Why we like it: Earn 1.50% AER (variable) interest on balances up to a maximum of £20,000. Up to 3% CASHBACK on various household bills. Monthly fee of £5. Must pay in £500 pm.

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

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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.