This comparison simply includes all savings accounts.
The Co-operative Bank Savings Accounts
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)
Why we like it: Tax free ISA account. Open with £1 or transfer in existing ISA funds. Invest up to £20,000 per tax year. Interest can be paid into account, alternative Nationwide savings or current account, or an external current account. Must be UK resident and aged 16 or older. Headline interest rate applicable if no more than 1 withdrawal per account year, fFor 2 or more withdrawals the interest rate drops to 0.50% AER. FSCS Protected
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.
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
Why we like it: Minimum deposit £1,000 - No withdrawals permitted - FSCS Protected
Why we like it: Investec Click & Invest is an online investment service that aims to make actively managed, globally diversified investment portfolios accessible to a wider audience. Everyone deserves harder working money, and Click & Invest’s goal is to make a positive difference to more financial futures. Their experts build and manage investment portfolios from £2,500 online, intelligently blending expertise with high-quality service. With a £2,500 minimum investment, Click & Invest aims to deliver an exceptional service for a straightforward fee. They offer both stocks and shares ISAs and general investment accounts, with a seamless online experience, with dedicated 24/7 support available. Capital at risk.
Disclaimer: The value of your investments can fall as well as rise, so you could get back less than you paid in.
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
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
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
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
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.
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 The Co-operative Bank savings accounts
It is important to make sure your money is working hard enough for you, to reach your savings goals quickly.
If you want to find the best savings options for you, then you could review the options with The Co-operative Banking Group.
Historically, interest rates with current accounts have been some of the lowest on the market. However, high street banks have started to increase their current accounts’ interest rates.
The recent trend of high interest current accounts has meant that more people are using their current account for their savings.
The Co-operative Banking Group has a current account that has competitive interest and various rewards for swapping accounts.
Instant Access Savings Accounts
Instant access accounts are popular amongst some savers, as they typically provide unlimited access along with the ability to earn interest.
The Co-operative Banking Group’s instant access account allows you to make a withdrawal at your convenience, as well as enable you to earn a modest amount of interest on your savings.
Typically, where a bank offers both instant and easy access accounts there is very little difference between the two. When this occurs, it is possible that the easy access account is more likely to have a delay in relation to deposits, withdrawals or transfer transactions.
The Select Access Saver from The Co-operative Bank offers a tiered rate of interest. The fewer times you withdraw from the Select Access Saver over the course of the year, the higher the interest you will receive.
If you are confident that you will not need your savings for a prolonged period of time, you could earn competitive interest with fixed rate bonds. Often fixed rate bonds provide some of the best interest rates on the market, providing you do not withdraw from your savings.
The Co-operative Bank’s fixed rate bonds have their best rates of interest, which run between 1 and 3 years. It should be noted that often the longer bonds pay the higher rates of interest.
If you want to benefit from £20,000 tax-free interest ISA allowance, you could explore the Co-op’s ISAs.
The Co-op offer four different ISA options: Cash ISA, Online Cash ISA, Britannia Additional Allowance ISA and Britannia Fixed Rate Cash ISA.
