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)
Winner of Platinum Feefo Trusted Service Award in 2024
Why we like it
Unlimited payments and withdrawals. Interest paid annually. Open in a single or a joint name. Maximum deposit £250,000. FSCS Protected. Winner of Platinum Feefo Trusted Service Award in 2024. Must be UK resident and be aged 18 or older
*Headline rate includes a guaranteed fixed bonus rate of 3.00% for the first 12 months (on balances up to £1 million), plus the standard variable rate which is currently 1.15%. After 12 months, you’ll continue to receive the standard variable rate (all rates are Gross/ AER. Annual interest payments. Unlimited deposits and withdrawals (daily limits apply). 24/7 access to your savings through the mobile app. Your eligible deposits held by a UK establishment of Barclays Bank UK PLC are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. This limit is applied to the total of any deposits you have with the following: Barclays, Barclays Business Banking, Barclays Premier Banking, Barclays Wealth Management and Tesco Bank. Any total deposits you hold above the limit between these brands are unlikely to be covered
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 FSCS
Save from £1. Unlimited payments and withdrawals. Interest paid annually. Open in a single or a joint name. Maximum deposit £500,000. Open and manage account online. FSCS Protected. Must be UK resident. Must be aged 16 or older
Choose monthly or annual interest payments. Unlimited deposits and withdrawals. 24/7 access to your savings. Open and manage online. After 12 months the rate will revert to the underlying rate, currently 1.25% gross/AER variable. Post Office Online Saver is provided by Bank of Ireland UK. Must be UK resident. Must be aged 18 or older. FSCS protected
£500 bonus to boost your savings if you receive a residential purchase mortgage offer from Leeds Building Society
Why we like it
The Home Deposit Saver lets you earn a competitive rate of interest whilst building up the deposit needed for your first or next home. Open and manage online. FSCS Protected. You can only pay in up to £500 in a single month. Withdrawals are limited to 1 each year. You can deposit up to £30,000 in total. Bonus eligibility criteria apply
Interest calculated monthly. Unlimited deposits and withdrawals. Open and manage online. FSCS Protected. Must retain a minimum balance of £20,000 in the account. Must be UK resident and be aged 18 or older
The interest rate tracks the Bank of England (BoE) Base Rate. Interest is calculated on the minimum daily balance and applied to the account on the first day of every subsequent month. Open and manage account online. Your eligible deposits are protected up to £85,000 by the Financial Services Compensation Scheme. The maximum deposit you may pay into any one OakNorth Account is £500,000. The maximum amount (excluding the interest) that you will be allowed to hold on deposit with OakNorth Bank across multiple accounts is also £500,000. Unlimited withdrawals, subject to 95 days notice. Available to individuals, aged 18 or over, who are UK residents
Unlimited deposits and withdrawals. Interest paid monthly: can be added to your Notice Saver or paid to your linked account. Easy application process, you just need a UK mobile phone and UK driving licence or passport. Manage account online. Maximum balance £250,000. Withdrawals subject to 90 days notice. Must have a linked UK current account
Yorkshire Bank operates as a trading division of Clydesdale Bank. Their different savings accounts offer various features making some more suitable for long term saving and others better for short term, flexible saving.
Below we explain the main kinds of savings accounts Yorkshire Bank offers and how they could suit your saving needs.
It will likely make sense to keep as much of your savings as possible in your current account as these usually offer good rates, up to a threshold.
If you exceed your deposit threshold, you may not earn any interest at all on the excess balance. In this case, you will almost certain benefit from transferring the non-earning portion of your savings into a dedicated savings account.
If having the ability to add and remove money from your savings account whenever you need it appeals, an instant access savings account is a good choice. There is normally no fee or penalty for making deposits and withdrawals, although there may be a yearly limit on how many you can make.
Most instant access accounts now come with online and telephone banking and you may also benefit from a cash card allowing you to take money out at cash points.
Savers who want a relatively safe way of earning a return should look closely at fixed rate bonds. They offer a guaranteed rate of interest over a set period (generally 1-5 years) in exchange for locking your money away until the period expires. Usually you will get a better interest rate the longer the bond lasts for, so these can be a very attractive choice for long term saving.
If you normally have to pay UK tax, you will likely benefit from taking out a cash ISA. These allow you to legally avoid tax on the interest you earn on deposits beneath an annual limit set by the government. For the 2017/18 tax year that amount is £20,000.
There are two basic types of ISA you need to consider – instant access and fixed term. These essentially act like instant access savings accounts and fixed term bonds respectively, but with the added bonus of not needing to pay tax on the interest you earn.
It is worth noting that the interest rates on cash ISAs tend to be a little lower than for some other types of savings accounts. This means you have to weigh up your likely tax savings against the amount you stand to potentially lose by taking a lower interest rate.
Find the best Yorkshire Bank savings account for you
When planning your long term finances, it is important to get the best deal on your savings account. Our savings account comparison table (above) lets you see the top offers we have sourced from across the market. This makes it easy for you to find the type of account that best matches your requirements.
