This comparison simply includes all savings accounts.
The Co-operative Bank Savings Accounts
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
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.
