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This comparison simply includes all savings accounts.

Santander
Everyday Current Account Santander
Open With £1
Account Type Current Account
Features Fee FREE Account Earn up to 15% cashback

Why we like it: No minimum monthly funding or monthly fee to maintain the account. Earn up to 15% cashback with Retailer Offers. Stress-free account switching in 7 days with the Current Account Switch Service. £300 ATM withdrawal per day, Arranged Overdraft facility (subject to status). Online and Mobile Banking with text and email alerts. Must be 18 or older and live in the UK permanently. 39.94% EAR overdraft charge. Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000

HSBC
Advance Current Account HSBC
Open With £1750
Account Type Current Account
Features Get £125 when you Switch

Why we like it: SPECIAL OFFER - £125 for SWITCHING to an HSBC Advance Account. Earn 1.00% AER/gross when you save between £25 and £250 per month. Arranged overdraft limit of at least £1,000 on account opening. Money banking app. No monthly account fee. Easy switching with the Current Account Switch Service. Must be 18 or older and be UK resident. Must pay in £1,750 per month or £10,500 over 6 months. Must be approved for an arranged overdraft of £1,000+. Get the £125 when switching to an HSBC Advance Account as a new customer with at least 2 Direct Debits or standing orders. Eligibility criteria and T&C’s apply. Offer may be withdrawn anytime

First Direct
1st Current Account First Direct
Open With £1
Account Type Current Account
Features Get £100 when you Switch

Why we like it: SPECIAL OFFER - £100 for SWITCHING to a First Direct 1st Account. Access to Regular Saver Account paying 1.00% AER/Gross fixed for 12 months if saving between £25 and £300 a month (up to £3,600 per year). £250 interest-free overdraft (subject to status). No minimum monthly funding and no monthly account fee. Mobile banking app. UK based contact centre. Easy switching with the Current Account Switch Service. Must be 18 or older and UK resident. Get the £100 when switching as a new customer and paying in at least £1,000 within three months of the account opening

Santander
123 Current Account Santander
Open With £500
Account Type Current Account
Features 0.60% AER Interest Up To £20,000 £5 pm Account Fee

Why we like it: Earn 0.60% AER (variable) interest on balances up to a maximum of £20,000. Up to 3% cashback on household bills - 1% on council tax bills, Mobile and home phone bills, broadband and paid-for TV packages, and Santander monthly mortgage payments. 2% on Gas and electricity bills, Santander Home Insurance premiums and Santander Life Insurance premiums, and 3% on water bills. Monthly fee of £5. Cashback capped at £5 for each cashback tier each month. Must pay in £500 pm. Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000

The Access Bank UK
Fixed Rate Bond The Access Bank UK
Min deposit £5000
Term 1 Year
Interest AER 0.55%

Why we like it: 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 0.7%

Why we like it: MARKET LEADING. 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 3 Years
Interest AER 0.8%

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

RCI Bank
Freedom Savings Account RCI Bank
Min deposit £100
Term Instant Access
Interest AER 0.4%

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 0.3%

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

RCI Bank
95 Day Notice Account RCI Bank
Min deposit £1000
Term 95 Day Notice
Interest AER 0.45%

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

RCI Bank
Fixed Rate Bond RCI Bank
Min deposit £1000
Term 4 Years
Interest AER 0.9%

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 0.95%

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)

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Compare RBS savings accounts

Royal Bank of Scotland (RBS) offers various accounts targeted at different kinds of savers. Knowing which is best for you means being clear about your own financial situation and saving goals. Below you can find out more about the types of savings accounts RBS has to offer so you have a better idea which is right for you.

Current Accounts

A current account may well offer you the best return on relatively small amounts of money.

If there is too much money in your current account, you will generally get a better return by moving it to a different kind of account.

Instant Access Savings Accounts

If you want to a deposit a lump sum while retaining the option to add to it later or take money out when you need it, an instant savings account may be best. There are normally no fees or penalties for adding and removing funds, although there may be an annual limit on how often this can be done.

Many instant access accounts allow you to take money out at cash points, making them especially convenient. You will normally also be able to make online and phone transfers when you need to.

Fixed Rate Bonds

If you have a lump sum that you don’t need to use any time soon, a fixed rate bond can offer very good returns. The headline advantage is that you get a guaranteed rate of interest for a set period (often 1-5 years), although you cannot normally touch your money until that period expires.

The longer the life of the bond, the better interest rate you will usually get. Some providers may allow you to make early withdrawals but this will usually incur a penalty in the form of lost interest.

Cash ISAs

ISAs allow you to avoid paying tax on the interest you earn from the money deposited in them. This can make a very significant difference to the return you earn, especially if you are a higher rate tax payer. The amount you can deposit is set annually by the government and is £20,000 for 2017/18.

You main options with an ISA are instant access and fixed term accounts. An instant access cash ISA gives a variable rate of interest, but lets you add and take away funds whenever needed. You will get a higher rate with a fixed term cash ISA and this rate will be guaranteed for a set period, but you cannot take money out or put more in during the lifetime of the account.

Find the best RBS savings account for you

Using our savings account comparison table, above, you can see exactly what the best deals currently on the market have to offer you. These deals are frequently updated to reflect the best value we can find from across the industry, so make sure to check back regularly to stay up-to-date.

Latest news

Top 3 picks for current accounts in 2021

Over 5.1 million UK bank and building society customers have switched their bank accounts using the free (and guaranteed) current account switching service which simplifies the process for customers. Read More »

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