How can I get the best interest rate for my Savings Account?
The interest rate you see when you create your new savings account is always the best rate you'll get on that day for your plan. These rates are displayed and always up-to-date on our website.
Interest rates set by partner banks
If you’re getting a lower interest rate than the one you’re seeing on our website for your same plan, it’s likely because our partner banks have adjusted the interest rates. Our partner banks may update their rates based on economic circumstances, and changes made by the Bank of England.
Whenever our partner banks decide to adjust their rates, we'll update our rates for all new savings accounts created thereafter. All savings accounts created before the rate change will keep the same interest rate shown at the moment the account was created.
How to update your interest rate
If you’d like to benefit from the current higher interest rate:
- Withdraw your savings account balance to your main currency account. To learn how to withdraw your savings, read this FAQ in our Help Centre
- Close your current savings account. You can find the steps in this FAQ
- Open a new savings account. For more details, go to this FAQ. The new account will have the updated interest rate as displayed on our website