Instant Saver Reward
Earn more when you don’t withdraw
Our Instant Saver Reward is an easy access account that gives you a Reward rate when you don’t make any withdrawals. Grow your funds faster by sticking to your savings habit.
4.75% AER variable
Reward rate: If you don’t make a withdrawal in a month
2.50% AER variable
Withdrawal rate: If you do make a withdrawal in a month
Better rate when you don’t withdraw
Withdrawing? Your rate bounces back to the Reward rate each month
No minimum deposit or regular payment
What's the Instant Saver Reward interest rate?
Here are the two rates for Instant Saver Reward: Reward rate - if you don't make a withdrawal in a month and Withdrawal rate - If you do make a withdrawal rate in a month, this lower interest rate will be applied for the current monthly interest period.
£100
£500
£1,000
£5,000
£10,000
Reward rate
Monthly interestGross* variable
4.65%
AER** variable
4.75%
Earns You
£4.74
per annum***
Withdrawal rate
Monthly interestGross* variable
2.47%
AER** variable
2.50%
Earns You
£2.48
per annum***
* Gross rate is the interest rate paid on an account before any taxes or other deductions are accounted for.
We will not deduct any tax from your interest. You are responsible for paying any tax due to HM Revenue and Customs on interest that exceeds your Personal Savings Allowance.
** ‘AER’ means ‘annual equivalent rate’ and is designed to make it easy for you to compare savings products. It tells you how much interest you’d earn if you put some money in an account and left it there for a full year. It takes account of things like how often the interest is paid and assumes any interest paid during that year is added to the balance and earns interest.
*** Per annum is the estimated total interest based on our gross rates that you will earn over 12 months if you deposit on the day of opening. The estimate also assumes you don’t make any further deposits or withdrawals in 12 months, and interest is paid directly into the account.
Why Instant Saver Reward?
Here are a few more reasons why you should open an account.
A rate that rewards you
Get our Reward rate when you don’t withdraw your money and watch your funds grow faster.
Add or withdraw whenever you like
Our Instant Saver Reward is an easy access account, so you’re free to add or withdraw money whenever you want to once you’ve linked your connected account.
Competitive Withdrawal rate
Our Withdrawal rate is still competitive, so continue to earn interest at a rate that adds value straight into your pocket in any months you need to make a withdrawal.
Track your progress on your dashboard
Use your nifty interest dashboard to track how many savings streaks you’re on and how long until we pay your interest.
It’s easy to get back on track
If you do withdraw, your rate switches back at the end of the monthly interest period, so you can easily get on track again.
Everything in the app
Your Instant Saver Reward is with you 24/7, wherever you are in our app. And we’ll also keep you notified of anything important you need to know.
FSCS Protection
What's this all about? Well, in a nutshell your money will be covered by the Financial Services Compensation Scheme (FSCS), which means your deposits are protected up to £85,000 should anything happen to the bank.
How do I open an Instant Saver Reward?
It’s easy to open an Instant Saver Reward. We’ve done away with all the paperwork and fuss, so you just need to download our app, register then open an account.
The interest rates shown in these images are examples only and may not reflect our current rates.
Here’s what our customers have to say
Our customers are big fans of our savings products! Check out Feefo, an independent review site to hear why.
Instant Saver Reward Summary Box
Account name: Instant Saver Reward
| Reward rate |
|---|
| 4.65% Gross per annum (variable) |
| 4.75% AER (variable) |
| Withdrawal rate |
|---|
| 2.47% Gross per annum (variable) |
| 2.50% AER (variable) |
- These rates are effective from 09/05/2025.
- You will earn interest on the money in your Instant Saver Reward from the day you pay it into the account. We calculate interest on your balance daily using the gross interest rate and add it to your account once a month, usually on the same date your account was opened.
- A ‘month’ is the period of one month from the day of the month on which the account was opened.
- We pay the Reward rate of interest in any month where you do not make a withdrawal or close your account.
- We pay the Withdrawal rate of interest in any month where you make a withdrawal, or you close the account.
- ‘AER’ means ‘annual equivalent rate’ and is designed to make it easy for you to compare savings products. It tells you how much interest you’d earn if you put some money in an account and left it there for a full year. It takes account of things like how often the interest is paid and assumes any interest paid during that year is added to the balance and earns interest.
- ‘Gross’ is the interest rate paid on an account before any taxes or other deductions are accounted for.
Instant Saver Reward Summary Box_v2.1. Effective from 08/05/2025 (Rates effective from 09/05/2025).
Want to know more?
Check out our most popular Instant Saver Reward Frequently Asked Questions below, or kick back and read our Instant Saver Reward T&Cs.