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Postal Savings Accounts

Compare Savings Accounts

ProviderAccountInterest RateTermApply
1.30%Instant AccessMore Info >
MARKET LEADING. Earn 1.30% gross/AER. Instant Access. No notice periods. Unlimited payments and withdrawals. Pay in from £100. RCI Bank are protected up to a total of €100,000 by the FGDR, the French deposit protection scheme. Manage account online.

1.29%

Instant AccessMore Info >
Earn 1.29% AER variable interest. Interest can be paid monthly or annually. Open an account singly or jointly. Minimum deposit £1. Unlimited deposits and withdrawals permitted. FSCS Protected
1.15%Easy AccessMore Info >
1.15% gross/AER. Instant Access. Free withdrawals and no notice period. Deposit from £100. Includes a fixed bonus of 0.95% gross fixed for the first 12 months. Quick and easy online application

2.01%

per annum

£1,000More Info >
Earn 2.01% gross/AER fixed for 12 months. £1,000 minimum deposit, £250,000 maximum. Interest paid on maturity. No withdrawals permitted. FSCS Protected

2.17%

per annum

£1,000More Info >
Earn 2.17% fixed interest. 24 month term. £1,000 minimum deposit, £250,000 maximum. Interest paid on maturity. No withdrawals permitted. FSCS Protected

2.32%

per annum

£500More Info >
Earn 2.32% fixed interest. 3 year term. Interest can be paid monthly or annually. Minimum deposit £500, Maximum deposit £250,000. No withdrawals permitted. FSCS Protected

2.49%

per annum

£500More Info >
Earn 2.49% fixed interest. 4 year term. Interest can be paid monthly or at maturity. Minimum deposit £500, Maximum deposit £250,000. No withdrawals permitted. FSCS Protected

2.69%

per annum

£1,000More Info >
Earn 2.69% gross/AER fixed for 60 months. £1,000 minimum deposit, £250,000 maximum. Interest paid on maturity. No withdrawals permitted. FSCS Protected
5.00%Current Account
Instant Access
More Info >
5.00% interest for 12 months on balances up to £2,500 for the first year. You must pay in £1,000 or more each month to receive interest (excluding transfers from any Nationwide account held by you or anyone else). 12 month fee-free arranged overdraft available. No monthly fee. Must be aged 18 or older.
Latest Current Account Deals
 AccountInterest (AER)Overdraft RateFunding Required*Fee pmFeaturesApply
5.0%*0% for 12 months£1,000 per monthN/A5.0% IN-CREDIT INTEREST on balances up to £2,500 for the first year.More Info >
3.0%*0% for first £250No minimum £133.0% INTEREST on balances up to £2,500More Info >
1.50%*Up to £3 per day£500 per month£5 pm*1.50% AER (variable) on your entire balance up to £20,000. Up to 3% cashback on household bills.More Info >
N/A0% for first 3 monthsNo minimum N/A3 months interest-free overdraft and no monthly account feeMore Info >
N/A0% for first £250No minimumFree if funding £1,000 or £10 below £1,000Switch your current account and you'll get a free gift worth up to £150. £250 interest free overdraft. Free banking if paying over £1,000 per month. Satisfaction guarantee - £100 if you leave within 6 monthsMore Info >
Latest ISA Deals
ProviderAccountISA TransfersProtection schemeFund choiceInvest From:More info
yes

FSCS

2,500+ funds

£10 per month

or £50 single

More Info >

Why we like it: The Standard Life Junior ISA from £10 pm. Tax efficient investing to help pay from anything from university fees to a first car.

Important information: Investment ISAs are tax-efficient wrappers for long term investments. Capital’s at risk. Charges may apply.  Tax rules may change in the future and whether particular tax rules benefit you, will depend on your individual circumstances. ISA transfer charges may apply, please check with your provider.
Peer to Peer Fixed Term ISA - Earn high tax free interest
ProviderAccountTarget ReturnTermMore Info

up to 8.70%

per annum

1 to 5 YearsMore Info >
  • Earn estimated 8.70% APR*
  • 1 - 5 year term
  • Available for ISA, ISA transfer & direct investment
  • Minimum investment £10
  • Manage your account online
  • Capital is at risk and returns may be higher or lower
  • Must be aged 18 or older
  • Peer to peer lending is not covered by the FSCS
6.00%
target rate pa
No Fixed TermMore Info >
  • Summer 2018 Cashback Offer. Receive up to £400 cashback when you invest by 31 August 2018
  • Innovative Finance ISAs (IFISA) are the new way to invest tax-free. Just like Cash and Stocks & Shares ISAs, you can invest up to £20,000 tax year, and you don’t need to pay any personal taxes on your earnings
  • Lending Crowd will automatically diversify your funds across at least 20 loans through their Loan Market, with no more than 5% of your funds invested in any one loan. All repayments will be automatically reinvested.
  • Target return - 6% a year
  • No income tax or capital gains tax to pay on your profits
  • No fixed term, hold for as long as you wish
  • Also accepts ISA transfers from previous year's ISA's 
  • Minimum investment £1,000, Maximum £20,000
  • The target rate is variable, net of ongoing management fees, estimated bad debt and before the 1% withdrawal fee
  • Capital is at risk
  • Must be aged 18 or older
  • Peer to peer lending is not covered by the FSCS
3.75%
annualised pa
Up to 5 YearsMore Info >
  • The Property‐Backed ISA is the latest in Landbay's peer‐to‐peer investments following the introduction of the Innovative Finance ISA from HM Treasury in 2016. A Landbay ISA investment is the same as a Classic investment with a tax‐free wrapper
  • Earn estimated 3.75% APR*
  • Up to 5 year term
  • Also accepts ISA transfers from previous year's ISA's 
  • Minimum investment £5000, Maximum £20,000
  • No ongoing fees or investment fees
  • Investments are automatically diversified across multiple buy-to-let mortgages
  • Sell your investment on the secondary market at any time, subject to Landbay's ability to reallocate your invested loan parts
  • Landbay's Reserve Fund exists in case a borrower misses a payment or defaults. To date they've had none
  • Capital is at risk and returns may be higher or lower
  • Must be aged 18 or older
  • Peer to peer lending is not covered by the FSCS
2.80% to 5.20%
average annualised rate
Easy Access, 1 Year or 5 Year Peer to PeerMore Info >
  • New investor offer: £100 bonus when you invest £1,000+ for a year. Ts & Cs apply
  • Innovative Finance ISA - all earnings are tax free
  • Choice of three markets: Rolling, 1 Year or 5 Year
  • Annualised average target return of between 2.70% and 5.20%
  • Capital and interest is only paid at the end of loan term in 2 out of the 3 markets – in the 5 year the interest is repaid in line with the investment repayment
  • Access your money early if funds available in market to replace withdrawal
  • Provision fund provides buffer against credit losses
  • Capital at risk
  • Must be aged 18 or older
  • RateSetter IF ISA is an investment, not a deposit account
  • Provision fund is not a guarantee
  • Peer to peer lending is not covered by the FSCS

Peer-to-peer lending can offer potentially attractive returns. There is a risk you may lose some or all of your initial investment as it is not protected by the Financial Services Compensation Scheme, although many lenders offer their own compensation schemes.

*Returns may be higher or lower

Alternative Saving Ideas - Earn high interest on your savings
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Peer to Peer Lending is not covered by the FSCS

There are a number of different banks and building societies that offer postal savings accounts. This type of account would be managed by you via post, ideal if you are not savvy with the internet or do not have internet access, and would rather not manage your savings by telephone.


Postal savings accounts could be a suitable option for:

 

  • Those who do not live within a reasonable distance of a particular bank or building society’s branch but would like to save with them nonetheless
  • Those who wish to manage their finances from the comfort of their own home.


If you are interested in opening a postal savings account, it is advisable that you take the time to shop around with a number of different providers to ensure that you are getting the best possible deal available.


Please see our savings account comparison tables below, which contain details of several of the latest accounts that could be currently available to you:

There are a number of different types of postal savings account, among which could be the following:

 

  • Notice/deposit accounts
  • Individual savings accounts (ISAs)
  • Instant access accounts
  • Fixed rate accounts.


Postal savings accounts tend to be managed in the following way:

 

  • Applications for such accounts are usually completed by post
  • To make deposits into your account, you would send a cheque to your provider by post
  • Similarly, if you wish to make withdrawals, you would have to notify the bank via post
  • You may also have the option to manage your account over the telephone or via the internet
  • Certain postal savings accounts will also send you an ATM card, allowing you to make withdrawals.


As postal savings accounts are offered by so many different providers with varying terms and benefits, it is particularly important that you compare what is on offer.