Savings accounts

Yes, both our Instant Saver and Fixed Saver savings accounts allow you to earn interest on your funds. Rates will differ between each product and at different times.

Please note: If you don’t provide maturity instructions for a Fixed Saver, and you don’t have an Instant Saver with us, we’ll move your funds to a Holding Account, where you’ll typically earn a lower rate of interest than our other accounts.

In most cases, opening a savings account will not impact your credit score.

The majority of banks and building societies will carry out a credit check when you open a savings account. However, most tend to use a soft check, which does not appear on your record. On some occasions, banks and building societies may carry out a hard check, which will appear on your credit history.

Here at Atom bank, we carry out a soft check when you open a savings account with us, so there will be no impact to your credit record.

How much you save can depend on a few factors, such as your disposable income, personal circumstances, debt level and what it is you’re saving up for.

For example, if you’re saving up an emergency fund, it’s generally recommended that you save up three to six months’ worth of living expenses. This should leave you with enough money to cover any unexpected costs, like a loss of job, car repair or vet bill.

The most important thing to remember is that you should be comfortable with the amount that you’re putting away each time, and that it’s not stretching you financially.

Take a moment to think about what you want to get out of your savings journey. Are you just starting out and building your funds from scratch? Or, have you already reached a good level of funds and want to earn some interest?

At Atom bank, we’ve got savings account options to suit different ways of saving. For instance, if you just want to put away a little bit at irregular intervals and have full access to your money, our Instant Saver may be ideal.

On the other hand, if you already have a lump sum you’ve saved up and you want to put it to work, locking in a good interest rate in one of our Fixed Savers might be just right.