No notice period. 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
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 have a linked UK current account. Your eligible deposits with Investec Bank 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 1.45% gross/AER variable. Post Office Online Saver is provided by Bank of Ireland UK. FSCS protected
Unlimited withdrawals subject to 95 days notice. No notice period. 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
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 FSCS. 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 only
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
All funds deposited into the RCI Bank E-Volve Savings 14 Day Notice Account will be used to fund pure electric vehicles and charging facilities. Interest paid monthly or annually. Manage account online. UK-based support, seven days a week. Unlimited withdrawals subject to 14 days notice. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the FSCS
3 penalty-free withdrawals in a 12 month period. 4.72% AER/4.62% gross (3.82% AER/3.75% gross + 0.90% AER/0.87% gross 12-month boost). Interest paid monthly. Deposit and withdraw almost instantly. No fees or charges for holding account. FSCS eligible on your deposits. 3.62% AER/3.55% gross if 4 or more withdrawals are made within 12 months (on boosted rate). 2.72% AER/ 2.68% gross if 4 or more withdrawals are made within 12 months (without 12 month boost). Must be UK resident. Must be aged 18 or older
There are some great cashback reward incentives at the moment and with more and more accounts offering cashback on everything from your purchases to your household bills, there’s a cashback account to suit everyone.
Some of the best cashback accounts include:
Santander 123
Santander is one of the few accounts that offer interest on your balance plus cashback rewards.
However, this account does have a £5 per month fee which is automatically taken from the account each month.
The cashback you can receive on your household bills includes:
1% cashback on water and council tax bills and on your Santander monthly mortgage payments (up to a maximum of £1,000)
2% cashback on gas bills and electricity bills
3% cashback on mobile, home phone, broadband and paid-for TV packages
You will earn interest up to £20,000 on this account which makes it a great option for people with higher balances in their account who also desire a cashback reward system.
Santander 123 Lite
If you’re not looking for the high interest rates but are interested in the cashback deals then the Lite account may suit you more as the £5 account fee of the original 123 account is reduced to £1.
You will receive the same cashback on monthly bills and still have access to the 123 World offers and special deals which Santander offer as standard.
To qualify for the cashback on both of these accounts you must:
Pay at least £500 into your account each month
Have at least two active Direct Debits - you'll receive cashback on any qualifying household bills you pay by Direct Debit
Useful to Know
Household bills don’t include TV licence, maintenance contracts (e.g. boiler repair cover), other insurance contracts, commercial use or commercial mortgages.
NatWest Reward Account
Natwest also offer a cashback reward account. There are no minimum monthly payments for this account making it a great option for those who are unable to meet the high minimum payment requests of some other accounts. There is, however, a charge per month of £3
The rewards you can earn on this account are similar to the Santander 123 account:
You can automatically earn 3% on seven kinds of household bills, including council tax
Cheaper option than the Santander account
As soon as you reach £5 in rewards you can exchange it for £5
This is a great choice for those who pay a lot of household bills out of one account and would like to see some return on that.
Natwest state that:
"There's no limit to the rewards you can earn. On average, currently our customers earn £120 per year in rewards, based on average monthly Direct Debits of £333 (£4,000 per year) and excluding the monthly fee."
TSB Classic Plus Current Account
TSB offer a great deal on its Classic Plus current account. This account has one of the lowest minimum monthly pay-ins at £500 per month so is well-suited to anyone who finds it difficult to meet the minimum payments of some other accounts.
They also offer 5% AER (variable) interest on balances up to £2,000. Interest is paid monthly and to earn it you simply:
Pay in a minimum of £500 a month
Register for Internet Banking, paperless statements and paperless correspondence.
While not strictly a cashback account, they’re also currently offering 5% interest on the first £100 of contactless payments you make each month for a year. When added to the interest they pay on your balance, this makes for a very good option.
Are they worth it?
Yes, if you really make the most of what they have to offer. With banks cutting interest rates dramatically in 2016, cashback is a good way to make sure you’re still getting something back.
However, they’re only worth it on purchases you would be making anyway and be wary of monthly fees eating in to your cashback reward.
