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This comparison simply includes all savings accounts.

Santander
Everyday Current Account Santander
Open With £1
Account Type Current Account
Features £130 Cashback when you Switch

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. £130 cashback when you complete a full switch to a Santander Everyday Current Account within 60 days, set up 2 Direct Debits, pay in £1,000 and log into Online or Mobile Banking. T&Cs apply.

HSBC
Advance Current Account HSBC
Open With £1750
Account Type Current Account
Features Get £110 when you Switch

Why we like it: SPECIAL OFFER - Get £110 + £30 Uber Eats voucher or The Dining Out Gift Card when you switch to an HSBC Advance Bank 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 £110 when switching to an HSBC Advance Account as a new customer using the Current Account Switch Service within 30 days of account opening, with at least 2 Direct Debits or standing orders. Eligibility criteria and T&C's apply. Offer may be withdrawn anytime. Offer isn’t available to customers who have held a HSBC current account, or opened a first direct account since 1 January 2018.

Santander
123 Current Account Santander
Open With £500
Account Type Current Account
Features £130 Cashback when you Switch

Why we like it: SPECIAL OFFER - £130 cashback when you switch to a Santander 123 Current Account. Earn 0.30% 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 £4. 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. £130 cashback when you complete a full switch to a Santander 123 Current Account within 60 days, set up 2 Direct Debits, pay in £1,000 and log into Online or Mobile Banking. T&Cs apply.

First Direct
1st Current Account First Direct
Open With £1
Account Type Current Account
Features Fee FREE Account Regular Saver paying 1.00% AER/Gross

Why we like it: 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

Starling Bank
Mobile App Bank Account Starling Bank
Open With £0
Account Type Mobile Bank Account
Features Fee FREE Account Pays 0.05% AER

Why we like it: Free current account. Pays 0.05% AER interest on balances up to £85,000. Get set up in minutes. Send money abroad: Fast and secure money transfers to bank accounts in 38 countries worldwide. No fees when you pay with your card abroad or withdraw money. Get a spotlight on your spending: See what you’ve spent instantly with real-time payment notifications. 3 month interest holiday on the first £500 of an arranged overdraft. Best British Bank and Best Current Account in 2020 at the British Bank Awards. Awarded 5 stars by Defaqto. Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000

Santander
123 Lite Current Account Santander
Open With £500
Account Type Current Account
Features £130 Cashback when you Switch

Why we like it: Up to 3% cashback on selected household bills, capped at £5 for each cashback tier each month. Earn up to 15% cashback with Retailer Offers. Easy to manage online or on mobile app. Get access to a range of 123 offers. Arranged Overdraft facility (subject to status) - 39.94% APR / EAR (variable). Must be 18 or older and UK resident. Customers must pay a minimum of £500 into account each month, have 2 active Direct Debits, log onto Online or Mobile Banking at least once every 3 months. Must not currently hold 2 Reward accounts. £2 monthly fee. £130 cashback when you complete a full switch to a Santander 1|2|3 Lite Current Account within 60 days, set up 2 Direct Debits, pay in £1,000 and log into Online or Mobile Banking. T&Cs apply

Royal Bank of Scotland
Reward Current Account Royal Bank of Scotland
Open With £1250
Account Type Current Account
Features Up to £150 to Switch

Why we like it: Earn £4 a month back in Rewards by making a minimum of 2 direct debit payments of at least £2 each. Plus earn an extra £1 a month in rewards with 1 mobile app login. Earn Rewards that you can redeem as cash back, gift cards or e-codes with our retail partners. Great money management tools with our mobile banking app. ‘Criteria Apply’. Arranged overdraft available (subject to eligibility). Multiple ways to pay: Apple Pay, Google Pay™ and Contactless Visa Debit. Must be 18 or older and UK resident. Customers need to pay at least £1,250 into any eligible personal current account every month (excludes transfers between your own accounts). Must not currently hold 2 Reward accounts. £2 monthly fee. Representative example: If you use an arranged overdraft of £1,200 you’ll be charged interest at 39.49% EAR variable. Switch by 18th November 2021 to get an initial £100 and pay in at least £1,500 and log in to Mobile Banking app or Online Banking by the 30th of December 2021. Get a further £50 if you make 10 eligible credit and/or debit transactions on your Current Account each calendar month (e.g. bill payments, debit card spend, direct debits and payments in and out) between January & September 2022

Royal Bank of Scotland
Select Current Account Royal Bank of Scotland
Open With £0
Account Type Current Account
Features Up to £150 to Switch

Why we like it: Fee Free Account. An everyday current account. Great money management tools with our mobile banking app. ‘Criteria Apply’. Multiple ways to pay: Apple Pay, Google Pay™ and Contactless Visa Debit Card. Limits apply. Arranged overdraft available (subject to eligibility). No monthly fee. Defaqto 5* rated. Must be 18 or older and UK resident. Representative example: If you use an arranged overdraft of £1,200 you’ll be charged interest at 39.49% EAR variable. Switch by 18th November 2021 to get an initial £100 and pay in at least £1,500 and log in to Mobile Banking app or Online Banking by the 30th of December 2021. Get a further £50 if you make 10 eligible credit and/or debit transactions on your Current Account each calendar month (e.g. bill payments, debit card spend, direct debits and payments in and out) between January & September 2022

Cashplus
Personal Current Account Cashplus
Open With £0
Account Type Current Account
Features No Credit Checks Online App

Why we like it: A bank account that can build credit history. No credit check during sign up. Apply straight from your mobile. Instant online decision. Get your Contactless Debit Mastercard within 3-5 working days. Add Creditbuilder onto your account and it could help build your credit rating at no extra cost. Deposit cash into your account at any Post Office UK branch. Money is available in your account immediately. Manage your account 24/7 from any device with the banking app - get real time balance information, statements, add payees send payments and apply for extras. Automatic payment alerts. UK based Customer Services Team. Your money is protected up to £85,000 by the FSCS (Financial Services Compensation Scheme)

Santander
123 Mini Current Account Santander
Open With £0
Account Type Childrens Current Account
Features Children 17 or under 3% AER Interest (T&Cs)

Why we like it: Can be opened by or on behalf of any child up to the age of 17. Debit or cash card available for those aged between 13 and 17. Monthly interest. No monthly fee. For children under age 13, the account must be opened in trust and managed by an adult (trustee). If you’re aged between 13 and 17 years old and live permanently in the UK you can apply online by telephone or in branch. No overdraft facility. 1% interest on the entire balance once the balance is £100, 2.00% AER/1.98% gross (variable) on the entire balance once the balance is £1,500, 3.00% AER/2.96% gross (variable) on the entire balance once the balance is £1,500 or over (up to a maximum of £2,000). Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000

Investec Savings
Online Flexi Saver Investec Savings
Min deposit £5000
Term Instant Access
Interest AER 0.58%

Why we like it: Instant access to your savings. Unlimited deposits and withdrawals. Interest paid monthly, either to a linked current account, or adding it to your Online Flexi Saver account. Easy application process, you just need a UK mobile phone and UK driving licence or passport. Manage account online. Maximum balance £250,000. Must be aged 18 or older and have a UK address. Must have a linked UK current account. Your eligible deposits with Investec Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)

Aldermore
Double Access Account Aldermore
Min deposit £1000
Term Easy Access
Interest AER Up to 0.6%

Why we like it: 0.60% AER if customer makes two or fewer withdrawals within an anniversary year. Monthly or annual interest. Manage your account online. Covered by the FSCS. If a customer makes three or more withdrawals in an anniversary year the rate reduces to 0.10% from the date of the third withdrawal. Must be UK resident and be aged 18 or older

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Compare Savings Accounts For Holidays

When putting your money into a savings account, you need to consider how long you intend to save for and how much of a return you would like to see. You can then compare the different types of savings accounts available to see which ones best match you saving goals.

Holidays can be expensive, and depending on the type of holiday you intend to go on, you may require a savings account to put aside enough money to go away.

There are a number of savings accounts available on the market; however, finding the right account for you will depend on your set of circumstances.

If you are looking for a savings account for a holiday, you may want to compare the options in the table above.

Current Accounts

Current accounts generally offer the best rates of interest for smaller sums of money. However, if you go over your account’s interest limit, your remaining balance will likely earn you nothing. 

To get the best deal, you may have to shop around and be willing to transfer your current account to a new provider. It’s also worth bearing in mind that some current accounts offer a better interest rate during an introductory period which then drops dramatically once that period is over.

A current account may be account to use when saving for a holiday over a short period of time. This is because you can take advantage of the competitive interest and withdraw your savings before the account reverts back to the bank’s underlying rate.  

Instant Access Savings Accounts

This type of account allows you to earn interest on your savings while still giving quick access to your money when necessary. Some instant access accounts come with a card that lets you draw money out at cash points, others require you to take money out in branch or transfer it to a current account online or by phone.

Please be aware there may be a limit on how many withdrawals you can make per year without losing some of your interest.

Easy Access Savings Accounts

Essentially the same as instant access accounts, except there may be a few days' delay when you wish to take money out. This is to allow withdrawal and transfer requests to be processed.

Some providers also refer to their instant access accounts as easy access accounts.

Notice Savings Accounts

These are similar to easy access and instant access savings accounts, except you have to give a certain amount of notice before removing funds. Common notice periods range from 40-95 days. The longer the notice period you are willing to give, the higher the interest rate you will usually receive.

A notice savings account may be useful as a savings account for a holiday, providing you are unlikely to need to access your savings in a short amount of time. If you are confident that you will not need to touch your savings before your holiday, a notice savings account might be appropriate for you.

Regular Savings Accounts

If you want to put away a little bit of money each month over a longer period, a regular savings account is likely to be the best choice. This kind of account usually requires you to deposit a minimum amount each month and will normally specify a maximum you can put in each month as well. There may also be a limit on how many withdrawals you can make each year.

Regular savings accounts often offer very attractive rates of interest, but it is important to note that, because you are only slowly building up capital, your initial yearly returns may be modest. This means that, while they can be used for short term savings, regular savings accounts are usually a better choice for longer term savings.

If you are looking to save for a holiday   over the course of a number of years, then a regular savings account could be a good option.

Fixed Rate Bonds

Fixed rate bonds tend to offer attractive rates of interest, which will be guaranteed for the life of the bond (typically 1-5 years). The caveat here is that you cannot usually take money out of the bond until it matures (i.e. reaches the end of the fixed interest period).

As fixed rate bonds offer competitive interest for those prepared to lock up savings for a prolonged period of time, you could utilise a fixed rate bond for a holiday for a special occasion. If you are planning to go away for a wedding, an anniversary or to travel, you may require a substantial amount of money; locking your savings up in a fixed rate bond may give you the additional interest required to achieve your goal.

Cash ISAs

UK tax payers normally have to pay tax on any interest they earn on their savings. However, a cash ISA allows you to earn interest, tax-free, on deposits up to an agreed yearly limit. For the 2017/18 tax year that amount is £20,000.

There are two main types of cash ISAs – instant access and fixed-term. Instant access cash ISAs allow you to withdraw money whenever you need without paying a penalty, making them ideal for short term saving. Fixed-term cash ISAs have similar conditions to fixed rate bonds, so you may be unable to withdraw money until they reach the end of their term or have to pay a penalty in order to do so.

Cash ISAs do not always offer the best interest rates, so you will need to assess whether any tax savings will outweigh the benefits of the higher interest rates provides by other types of accounts.

Cash ISAs may be a useful tool to earn tax-free interest. If you have a substantial amount of savings for a holiday, which push you over the threshold for regular tax-free savings, then you could explore your cash ISA options.

Find the best short term savings account for you

With so many different brands and products on the market, it can be hard to figure out which offer the best deals for you. The comparison table at the top of this page is regularly updated with the most attractive deals on short term savings accounts from across the industry. This makes it easy for you to contrast the features of different accounts with 6 month options and find the right one for your saving needs.

Latest news

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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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We've been comparing savings and current accounts for many years so you can trust you're in good hands.