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This comparison simply includes all savings accounts.

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

Why we like it: MARKET LEADING. 0.60% AER if customer makes two or fewer withdrawals within an anniversary year. 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. Monthly or annual interest. Must be UK resident and be aged 18 or older. Maximum deposit £1,000,000. Manage your account online. Covered by the FSCS

Investec Savings
Online Flexi Saver Investec Savings
Min deposit £5000
Term Instant Access
Interest AER 0.55%

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)

RCI Bank
Freedom Savings Account RCI Bank
Min deposit £100
Term Instant Access
Interest AER 0.5%

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 0.5%

Why we like it: 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 0.55%

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

Aldermore
120 Day Notice Account Aldermore
Min deposit £1000
Term 120 Day Notice
Interest AER 0.7%

Why we like it: Unlimited withdrawals subject to 120 days notice.

The Access Bank UK
Fixed Rate Bond The Access Bank UK
Min deposit £5000
Term 1 Year
Interest AER 0.9%

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 1.05%

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 1.10%

Why we like it: MARKET LEADING. 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 4 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)

RCI Bank
Fixed Rate Bond RCI Bank
Min deposit £1000
Term 5 Years
Interest AER 1.00%

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)

Nationwide
FlexDirect Current Account Nationwide
Open With £1000
Account Type Current Account
Interest AER 2.00%

Why we like it: 2.00% interest for 12 months on balances up to £1,500 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. Access to Flexclusives - Select Credit Card and low personal loan rate. Must be aged 18 or older

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Ensure your savings are getting the best interest deal possible:

Why Have A Savings Account?

A good instant access savings account will offer flexible withdrawal facilities with good rates of interest, and could be suited to savers looking to access their money regularly.

Business Savings Account:

  • Interest rates
  • Minimum deposit
  • Maximum deposit
  • Notice period to make a withdrawal
  • Any fees or penalties for making withdrawals
  • How your interest is calculated and paid

Charity Savings Account:

There are three main types of savings accounts that charities tend to use – easy access accounts, notice accounts and fixed rate bonds. Which will offer the best choice for you will depend on how you plan to use your charity’s savings and what level of return you would like to achieve.

Why Have An ISA?

  • Online access - Some ISA providers will provide online access to your investment allowing you to see performance of your ISA. 
  • You can avoid paying tax on interest rates you earn.

Benefits of a Cash ISA: 

  • No income tax - you don't pay tax on any interest you earn from the cash in your ISA
  • Easy access - if you choose an instant access cash ISA it's a convenient way to save at a good interest rate while retaining fast and easy access to your money
  • No need to declare your cash ISA on your tax return
  • Straightforward transfers - you can transfer your cash ISA to a different provider to get a better rate of interest

Investment ISA:

  • Be prepared to invest for the medium to long term with an Investment ISA - five years or more is recommended.
  • Different Investment ISAs have different investment options. These range from as little as £10 per month (e.g. through a fund) to a specified minimum investment (e.g. £500).
  •  If your current investment ISA isn't performing as well as you'd like, you will usually be permitted to transfer it another provider.
  • If you have an investment ISA from a previous tax year, you're permitted to move this into a current investment ISA or split it between more than one investment ISA. 
  • If you want to open a Junior ISA for your child or grandchild, then you can also invest in the investment on their behalf up to a maximum of £4,260.

What is a fixed rate ISA?

Fixed rate ISAs allow you to earn a guaranteed rate of interest on your savings without paying tax on that interest. They are normally offered over 1-3 years with the level of interest staying the same for the entire period of the ISA. For the 2020-2021 tax year, over-18s can place up to £20,000 in an ISA.

What is a Lifetime ISA?

The lifetime ISA is designed to allow people aged between 18 and 40 year old to save for both the deposit on their first property as well as their retirement simultaneously.

In addition from being able to save in a tax advantageous wrapper if a saver withdraws the money contained in the account after their 60th birthday, or use to purchase their first property they will receive a 25% bonus on their savings from the government which essentially means they could benefit from an extra £1 for every £4 they contribute to the ISA.

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.