This comparison simply includes all savings accounts.
Santander Everyday Current Account
Why we like it: Interest paid annually. Unlimited deposits and withdrawals. Open and manage online. FSCS Protected. Must be UK resident and be aged 18 or older
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)
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)
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
Why we like it: 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
Why we like it: 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. Which? Recommended Savings Provider. Unlimited withdrawals subject to 14 days notice. Must be UK resident. Must be aged 18 or older. 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: 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
Why we like it: 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 be aged 18 or older and have a UK address. Must have a linked UK current account
Why we like it: 3 penalty-free withdrawals in a 12 month period. 3.82% AER (variable tracker) + 0.68% AER 12 month boost. 3.75% gross variable tracker. Interest paid monthly. Deposit and withdraw almost instantly. No fees or charges for holding account. FSCS eligible on your deposits. After 3 withdrawals within a 12 month period the rate will revert to either 3.40% AER (variable tracker with boost applied) or 2.72% AER (variable tracker) for the remainder of the 12 month period since opening the account. Must be UK resident. Must be aged 18 or older
Why we like it: 9 month term, minimum deposit £1,000, no withdrawals permitted. FSCS Protected
Why we like it: Interest paid on maturity. Automatic repayment to your linked account. Maximum deposit £250,000. FSCS Protected. Must have a UK residential address and be aged 18 or older. No withdrawals permitted
Why we like it: 1 year term, minimum deposit £1,000, no withdrawals permitted. FSCS Protected
Santander Current Accounts
Santander offer a range of current accounts and are a very attractive option right now due to their cashback reward scheme on their 123 accounts.
As standard, Santander offer:
- Access to your account anytime, anywhere with online, mobile and telephone Banking. Plus you can bank at any of our branches.
- Visa debit card
- A quick and secure method of buying goods and services at home and abroad.
- Apple Pay and Android Pay
- Contactless payments with your mobile by linking your Santander debit or credit card to your Apple or Android device.
- A £75,000 UK savings safety guarantee (shared with Cahoot).
- Withdraw up to £300 a day from any Santander or Link cash machine.
As extra incentive, Santander offer a four month fee-free arranged overdraft when you switch and if you use their Switch Service to move your current account then you will receive a Defaqto 5 star rated service.
Santander offer several types of account, including:
Everyday Current Account
If you're just after the essentials, then this a great account to start with. There’s no monthly account fee but you benefit from the range of benefits of being a Santander customer.
It's simply a regular bank account you can pay into, make payments, set up direct debits and withdraw from as and when you need to. You don’t earn interest on your balance.
Santander 123
The Santander 123 wins for those with savings above £10,000 - or will once the others banks' rate cuts have come into effect. Currently, you can get 0.30% on balances from £500 to £20,000.
You are also able to have two accounts in your name, but one must be joint – meaning couples can save £40,000 between them.
This account does have a £4/month fee which is automatically taken from the account each month but for most users that's more than covered by the 3% cashback this account gives on utility bills paid by Direct Debit from the account. Cashback is paid directly in to your account.
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
Overdrafts with Santander are charged at £1 per day for amounts under £2000 and then rise to £2 and then £3 for amounts of £3000 and over. The first four months of overdraft are charged at 0% interest thanks to the switch reward.
1|2|3 Lite Current Account
This account is very similar to the 123 current account but is only charged at £1 per month. You will benefit from the cashback on household bills but it does not offer any interest on your balance. To qualify you must have two Direct Debits going out of the account and pay in £500 per month.
