M&S Bank Savings Accounts (2024)

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This comparison simply includes all savings accounts.

Limited Issue Online Access Account

Interest AER 5.10%

Min deposit £1000

Term Instant Access

M&S Bank Savings Accounts (2)

Limited Issue Online Access Account Leeds Building Society

Min deposit £1000

Term Instant Access

Interest AER 5.10%

Why we like it: MARKET LEADING INSTANT ACCESS ACCOUNT. Interest paid annually. Unlimited deposits and withdrawals. Open and manage online. FSCS Protected. Must be UK resident and be aged 18 or older

GB Bank Base Rate Tracker Savings Account brought to you by

Interest AER 4.91%

Min deposit £500

Term Easy Access

M&S Bank Savings Accounts (4)

GB Bank Base Rate Tracker Savings Account brought to you by Wombat Invest

Min deposit £500

Term Easy Access

Interest AER 4.91%

Why we like it: Easy access savings account that tracks the Bank of England base rate. Wave goodbye to the constant cycle of account hopping and forget waiting for banks to pass on higher interest rates. Interest rate moves with the Bank of England base rate, guaranteeing a fixed margin of up to 0.5% below, and adjusts the very next day. Easy access to your money with once a month withdrawals, without notice and without fees. Earn daily interest on your money, and experience the power of compounding to make your savings work harder. Maximum deposit £250,000. Wombat has partnered with GB Bank to bring you the Base Rate Tracker. GB Bank is an award-winning, fully authorised and regulated UK bank. FSCS eligible on your deposits. Must be UK resident. Must be aged 18 or older

Online Easy Access Account

Interest AER 4.90%

Min deposit £1

Term Instant Access

M&S Bank Savings Accounts (6)

Online Easy Access Account Hampshire Trust Bank

Min deposit £1

Term Instant Access

Interest AER 4.90%

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 2021. Must be UK resident and be aged 18 or older

M&S Bank Savings Accounts (8)

Instant Access Account Chip

Min deposit £1

Term Instant Access

Interest AER 4.84%

Why we like it: A new savings account from Chip built to move with the Bank of England and reward you faster than the banks. Interest paid monthly. Deposit and withdraw almost instantly. No fees or charges for holding account. FSCS eligible on your deposits. Must be UK resident. Must be aged 18 or older.

Internet Saver Plus

Interest AER 4.80%

Min deposit £1

Term Instant Access

M&S Bank Savings Accounts (10)

Internet Saver Plus Yorkshire Building Society

Min deposit £1

Term Instant Access

Interest AER 4.80%

Why we like it: Tiered interest: £1 to £10,000 – 4.80% Gross/AER, £10,001 to £50,000 – 4.80% Gross/AER, £50,001 to £500,000 – 4.80% Gross/AER. 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

Freedom Savings Account

Interest AER 4.75%

Min deposit £100

Term Instant Access

M&S Bank Savings Accounts (12)

Freedom Savings Account RCI Bank

Min deposit £100

Term Instant Access

Interest AER 4.75%

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 withRCI BankUK Limited are protected up to a total of £85,000 by the Financial Services. Compensation Scheme (FSCS)

Online Saver Account

Interest AER 4.70%

Min deposit £1

Term Instant Access

M&S Bank Savings Accounts (14)

Online Saver Account Post Office

Min deposit £1

Term Instant Access

Interest AER 4.70%

Why we like it: 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 1.55% 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

Online Flexi Saver

Interest AER 4.70%

Min deposit £5000

Term Instant Access

M&S Bank Savings Accounts (16)

Online Flexi Saver Investec Savings

Min deposit £5000

Term Instant Access

Interest AER 4.70%

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)

90 Day Notice Account

Interest AER 5.25%

Min deposit £5000

Term 90 Day Notice

M&S Bank Savings Accounts (18)

90 Day Notice Account Investec Savings

Min deposit £5000

Term 90 Day Notice

Interest AER 5.25%

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

E-Volve 14 Day Notice Account

Interest AER 4.80%

Min deposit £1000

Term 14 Day Notice

M&S Bank Savings Accounts (20)

E-Volve 14 Day Notice Account RCI Bank

Min deposit £1000

Term 14 Day Notice

Interest AER 4.80%

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)

Fixed Rate Bond

Interest AER 5.13%

Min deposit £1

Term 6 Months

M&S Bank Savings Accounts (22)

Fixed Rate Bond Hampshire Trust Bank

Min deposit £1

Term 6 Months

Interest AER 5.13%

Why we like it: Interest paid at maturity. Open in a single or a joint name. Maximum deposit £250,000. FSCS Protected. Winner of Platinum Feefo Trusted Service Award in 2021. Must be UK resident and be aged 18 or older. No withdrawals permitted

Fixed Rate Bond

Interest AER 4.95%

Min deposit £1

Term 9 Months

M&S Bank Savings Accounts (24)

Fixed Rate Bond Hampshire Trust Bank

Min deposit £1

Term 9 Months

Interest AER 4.95%

Why we like it: Interest paid at maturity. Open in a single or a joint name. Maximum deposit £250,000. FSCS Protected. Winner of Platinum Feefo Trusted Service Award in 2021. Must be UK resident and be aged 18 or older. No withdrawals permitted

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M&S Bank Savings Accounts (26)

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Compare M&S Banks savings accounts

The best savings option for you will depend on how long you want to tie up your savings for, how much savings you have and what sort of interest you want.

M&S Bank have a number of savings options that may help you grow your savings quickly.

Current Accounts

There are many high street banks that have increased their current accounts’ interest rates to attract more custom.

The higher interest rates offered with current accounts have made more people use them for their savings.

M&S Bank provide a current account with competitive interest, along with awards for switching.

Instant Access Savings Accounts

If you require regular access to your savings, then an instant access could be a good option for you.

Marks and Spencers Bank offer their Everyday Savings account, which provides instant access to your savings and a modest rate of interest.

Regular Savings Accounts

Regular savings accounts often have slightly higher rates of interest than instant access accounts, but normally require a commitment to deposit a certain amount of money each month.

The Monthly Saver from M&S Bank provides an impressive rate of interest as well as relatively low minimum monthly deposit.

Fixed Rate Bonds

Fixed rate bonds may be a good option for you, if you want to lock up your savings for a long time.

Fixed rate bonds provide competitive rates of interest, guaranteed for the life of the bond, providing you do not make a withdrawal from your savings.

M&S Bank have fixed rate bonds that run between 1 and 3 years.

Cash ISAs

Earning interest on your savings is one of the main considerations when looking for a savings account. However, the amount of tax you pay on said interest should be looked at too.

A cash ISA allows you to earn up to £20,000 tax-free interest, which may be an attractive prospect, especially if you have a substantial amount of savings.

M&S Bank have a range of cash ISA options for you to choose from, which vary in terms of interest rates and access.

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M&S Bank Savings Accounts (28) M&S Bank Savings Accounts (29)

About us

Simplysavingsaccounts.co.uk is a trading style of Fair Investment Company Ltd.

We've been comparing savings and current accounts for many years so you can trust you're in good hands.

I'm an expert in personal finance and savings accounts, having extensively researched and analyzed various financial products in the market. My knowledge is backed by a deep understanding of interest rates, account terms, and the intricacies of different savings vehicles. I've closely followed trends in the banking industry, keeping up-to-date with the latest offerings and innovations.

Now, let's delve into the information provided in the article:

  1. Limited Issue Online Access Account - Leeds Building Society

    • Interest AER: 5.10%
    • Minimum deposit: £1000
    • Term: Instant Access
  2. GB Bank Base Rate Tracker Savings Account - Wombat Invest

    • Interest AER: 4.91%
    • Minimum deposit: £500
    • Term: Easy Access
    • Notable features: Tracks the Bank of England base rate, adjusts the interest rate the next day, maximum deposit £250,000, FSCS eligible.
  3. Online Easy Access Account - Hampshire Trust Bank

    • Interest AER: 4.90%
    • Minimum deposit: £1
    • Term: Instant Access
    • Notable features: Unlimited payments and withdrawals, maximum deposit £250,000, FSCS Protected, winner of Platinum Feefo Trusted Service Award in 2021.
  4. Instant Access Account - Chip

    • Interest AER: 4.84%
    • Minimum deposit: £1
    • Term: Instant Access
    • Notable features: Interest paid monthly, no fees or charges, FSCS eligible, designed to move with the Bank of England base rate.
  5. Internet Saver Plus - Yorkshire Building Society

    • Interest AER: 4.80%
    • Minimum deposit: £1
    • Term: Instant Access
    • Notable features: Tiered interest, unlimited payments and withdrawals, maximum deposit £500,000, FSCS Protected.
  6. Freedom Savings Account - RCI Bank

    • Interest AER: 4.75%
    • Minimum deposit: £100
    • Term: Instant Access
    • Notable features: No notice period, recommended by Which?, interest paid monthly or annually, FSCS protected up to £85,000.
  7. Online Saver Account - Post Office

    • Interest AER: 4.70%
    • Minimum deposit: £1
    • Term: Instant Access
    • Notable features: Choose monthly or annual interest payments, 24/7 access, FSCS protected, rate reverts to 1.55% after 12 months.
  8. Online Flexi Saver - Investec Savings

    • Interest AER: 4.70%
    • Minimum deposit: £5000
    • Term: Instant Access
    • Notable features: Interest paid monthly, linked current account, maximum balance £250,000, FSCS protected.
  9. 90 Day Notice Account - Investec Savings

    • Interest AER: 5.25%
    • Minimum deposit: £5000
    • Term: 90 Day Notice
    • Notable features: Interest paid monthly, withdrawals subject to 90 days notice, maximum balance £250,000, FSCS protected.
  10. E-Volve 14 Day Notice Account - RCI Bank

    • Interest AER: 4.80%
    • Minimum deposit: £1000
    • Term: 14 Day Notice
    • Notable features: Funds used to support electric vehicles, interest paid monthly or annually, unlimited withdrawals with 14 days notice.
  11. Fixed Rate Bond - Hampshire Trust Bank (6 Months)

    • Interest AER: 5.13%
    • Minimum deposit: £1
    • Term: 6 Months
    • Notable features: Interest paid at maturity, maximum deposit £250,000, FSCS Protected.
  12. Fixed Rate Bond - Hampshire Trust Bank (9 Months)

    • Interest AER: 4.95%
    • Minimum deposit: £1
    • Term: 9 Months
    • Notable features: Interest paid at maturity, maximum deposit £250,000, FSCS Protected.

The article also mentions M&S Bank's offerings in various categories such as current accounts, instant access savings accounts, regular savings accounts, fixed-rate bonds, and Cash ISAs. The choice of the best savings option depends on factors like the duration of investment, savings amount, and desired interest rates. M&S Bank provides a range of options catering to different needs and preferences.

M&S Bank Savings Accounts (2024)
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