ISAs
Your ISA allowance lets you save up to £20,000 each tax year without paying tax on the interest you earn. We only offer Cash ISAs. But there are a range of different types including Stocks and Shares ISAs and Lifetime ISAs available from other providers.
Could be right if:
- You want a tax-free way of saving.
- You haven't yet used your full ISA allowance for the current tax year.
Might not be right if:
- You've already used your ISA allowance.
- You want to save more than £20,000 every year.
Want to know more about ISAs?
Find out how an ISA can help you save money without paying tax on the interest you earn.
Read our ISA explainerEasy access accounts
Easy access accounts let you put in and take out your money whenever you like, making them perfect for emergencies or a rainy day fund.
Could be right if:
- You want to save money for emergencies or a rainy day.
- You want to pay in as and when you like.
- You want to be able to take money out when you like.
Might not be right if:
- You're looking for a fixed rate of interest.
Did you know?
We have easy access savings accounts that support local people and causes.
View our community accountsRegular Savers
Regular savings accounts can be a great way to grow your savings. Even saving a small amount each month can make a big difference towards that car or holiday you’re dreaming of.
We have different regular savings accounts you can choose from depending on whether you may want to dip into your savings pot, or if you're happy to not touch it for a while.
Could be right if:
- You want put some money aside every month.
Might not be right if:
- You have a lump sum you're looking to put into savings.
- You want to save more than £200 a month.
Limited access accounts
If you’re not keen on locking your money away for fixed length of time but still want to earn a higher interest rate, a limited access account could be for you.
With limited access accounts you can only take money out a set number of times without your interest reducing, usually three or four times a year.
Could be right if:
- You're hoping to earn more interest than an easy access account.
- You only need to access your money a few times a year.
Might not be right if:
- You want to take money out many times a year without lowering your interest rate.
Notice accounts
With notice accounts you can access your money by planning ahead and giving us some notice that you want to take your money out. Usually the more notice you give, the higher the interest you will earn.
Could be right if:
- You're hoping to earn more interest than an easy access account.
- You're happy to plan ahead and give notice to take money out.
Might not be right if:
- You want to be able to take out your money without notice.
Fixed Rate Bond
A fixed rate bond is a savings account that you keep for a specific time, and the rate of interest you earn wont change during that period.
When you open a fixed rate bond, you usually only make one deposit. This makes it ideal if you have a lump sum to save. The interest rates on fixed rate bonds are generally higher than those on accounts where you can withdraw money easily, like an easy access savings account.
Could be right if:
- You want a fixed rate of interest.
- You have a lump sum to invest.
- You don’t need to access to your money during the fixed period.
Might not be right if:
- You want to deposit money whenever you feel like it.
- You want to be able to take money out when you like.
These are examples of some of the reasons why people might use different types of savings accounts
Emma – Saving for wedding and a rainy day
Emma is saving for her wedding in two years, so wants a savings pot that will gain interest over time which she won’t be tempted to dip into. As well as this, she wants to increase her rainy day fund for emergencies.
She saves £200 in a fixed rate account, to gain interest on her savings and without the temptation of being able to dip into it.
For her emergency fund, Emma keeps £2,000 in an easy access savings account, so she can take the money out straight away if she needs it.
Liam – Building a deposit
He uses a notice account with a 60 day withdrawal period to earn higher interest while also stopping impulsive withdrawals.
He also uses his annual ISA allowance, by placing his current savings of £20,000 into a Cash ISA, so he can benefit from tax-free interest.
Mia – Starting small
Mia has been struggling to save, but wants to start building good habits.
She’s opened an easy access savings account and transfers any leftover money at the end of each week, no matter how small.
Once she builds up her savings pot, she plans to transfer some of it into a fixed rate account where she can earn more interest without having access to it for a period of time.
FAQs
How do I choose the right savings account for my needs?
Think about when you might want to access your money and whether you'd like an interest rate that is fixed, or can change. You should compare the account features and interest rates before deciding.
Can I have more than one type of savings account?
Yes, you can open and manage multiple types of savings accounts to suit your needs.
Is my money safe in these accounts?
Yes, your savings are protected up to £85,000 by the Financial Services Compensation Scheme (FSCS).
How do I open an account?
Our savings accounts can be opened online, by post, or in branch.