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This comparison simply includes all savings accounts.

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.

RCI Bank
Freedom Savings Account RCI Bank
Min deposit £100
Term Instant Access
Interest AER 1.30%

Why we like it: MARKET LEADING RATE. No notice period. Deposit from £100. Interest paid monthly or annually. Apply in minutes.

Habib Bank Zurich
Fixed Rate Bond Habib Bank Zurich
Min deposit £1000
Term 1 Year
Interest AER 1.85%

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

Masthaven Bank
Flexible Term Saver Masthaven Bank
Min deposit £500
Term 30 Months
Interest AER 2.11%

Why we like it: 30 month term. Interest can be paid monthly or annually. Minimum deposit £500, Maximum deposit £250,000. No withdrawals permitted. FSCS Protected

RCI Bank
Fixed Rate Bond RCI Bank
Min deposit £1000
Term 3 Years
Interest AER 2.31%

Why we like it: Save from £1,000 to £1,000,000. No withdrawals before the end of the term. RCI Bank are protected up to a total of €100,000 by the FGDR (Fonds de Garantie Dépôts et de Résolution), the French deposit protection scheme. Apply online.

Vanquis
Fixed Rate Bond Vanquis
Min deposit £1000
Term 4 Years
Interest AER 2.52%

Why we like it: Minimum deposit £1,000. Interest paid monthly or annually. Apply online. Eligible deposits covered by UK FSCS.

Vanquis
Fixed Rate Bond Vanquis
Min deposit £1000
Term 5 Years
Interest AER 2.70%

Why we like it: Minimum deposit £1,000. Interest paid monthly or annually. Apply online. Eligible deposits covered by UK FSCS.

Compare M&S Banks savings accounts

The best savings option for you will depend on how long you want to tie up your savings for, how much savings you have and what sort of interest you want.

M&S Bank have a number of savings options that may help you grow your savings quickly.

Current Accounts

There are many high street banks that have increased their current accounts’ interest rates to attract more custom.

The higher interest rates offered with current accounts have made more people use them for their savings.

M&S Bank provide a current account with competitive interest, along with awards for switching.

Instant Access Savings Accounts

If you require regular access to your savings, then an instant access could be a good option for you.  

Marks and Spencers Bank offer their Everyday Savings account, which provides instant access to your savings and a modest rate of interest.

Regular Savings Accounts

Regular savings accounts often have slightly higher rates of interest than instant access accounts, but normally require a commitment to deposit a certain amount of money each month.

The Monthly Saver from M&S Bank provides an impressive rate of interest as well as relatively low minimum monthly deposit.

Fixed Rate Bonds

Fixed rate bonds may be a good option for you, if you want to lock up your savings for a long time.

Fixed rate bonds provide competitive rates of interest, guaranteed for the life of the bond, providing you do not make a withdrawal from your savings.

M&S Bank have fixed rate bonds that run between 1 and 3 years.

Cash ISAs

Earning interest on your savings is one of the main considerations when looking for a savings account. However, the amount of tax you pay on said interest should be looked at too.

A cash ISA allows you to earn up to £20,000 tax-free interest, which may be an attractive prospect, especially if you have a substantial amount of savings.

M&S Bank have a range of cash ISA options for you to choose from, which vary in terms of interest rates and access.

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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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.