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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 Post Office savings accounts

Putting money into a savings account can be a smart move, as long as you find the right one for your financial circumstances and saving goals. Below is a list of the main types of savings accounts the Post Office currently offers so you can find out more before moving forward.

Current Accounts

Post Office current accounts are provided by Bank of Ireland UK. Current accounts often give better rates of interest than a lot of dedicated savings accounts, but these rates are only available on deposits up to a certain size. 

Finding the best interest rate may require you to shop around and switch to a different provider. It is worth bearing in mind that many of the best rates only apply for an introductory period. After this initial window, the interest rate may drop considerably.

Instant Access Savings Accounts

If you have a lump sum that you want the freedom to add to or take money out of, an instant access account is a wise choice. You will usually be able to make deposits and withdrawals without paying a fee, although there may be restrictions on how many times you can do this annually.

Instant access accounts can usually be managed online or by phone, and you may be issued with a cash card allowing you to make withdrawals at cash points.

Notice Savings Accounts

The Post Office currently offer a Reward Saver account, which is a form of notice savings account. This gives you a slightly better rate of interest than an instant access savings account, but in exchange you will have to give 30 days’ notice for any withdrawal. If you want to remove funds sooner than this, you will have to pay a no-notice penalty fee.

Fixed Rate Bonds

If you would like to know for definite how much you will get back from your savings, a fixed rate bond may be the best bet. You can usually deposit very large sums into a fixed rate bond if necessary, and you will earn a guaranteed rate of interest for the life of the bond. Fixed rate bonds usually last for 1 to 5 years. Bear in mind that the longer the bond term, the higher the interest rate will be.

Fixed rate bonds are best suited to long term saving, as you cannot normally take money out until the bond term expires.

Cash ISAs

When planning your savings, it is important to know that you will usually have to pay tax on the interest you receive. The exception for UK tax payers is when you place your money into a cash ISA. These allow you to earn tax-free interest on deposits up to a certain size.

This amount you can put into an ISA is set by the UK government and is £20,000 for the 2017/18 tax year.

The main types of ISAs are known as instant access cash ISAs and fixed term cash ISAs. Instant access ISAs pay variable rates of interest, and allow you to put in and take out money whenever you want. Fixed term ISAs are like fixed rate bonds, giving guaranteed interest rates over a set period in exchange for locking your money away.

Find the best Post Office savings account for you

How do you know which savings account will offer you the best deal for your savings? Our comparison tool at the top of the page allows you to easily see what the most attractive accounts from across the market have to offer. That way you can be confident that you have the best options in front of you when making a 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.