Savings Accounts for Over 50s

There are a large number of providers that may offer different deals on savings accounts for the over 50s. In order to find an account that is best suited to your individual requirements, it is recommended to shop around using savings accounts comparisons to help narrow down your choice.

Customers who are over 50 with a significant amount of money saved may even be able to use a monthly interest account to provide them with an alternative source of income. These accounts come in a variety of different formats, although when searching for an appropriate account it is important to carefully consider which one will provide you with the maximum return on your savings.

The comparison tables below will help you judge the merits of different savings account deals quickly and easily.

Savings Selection
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The following are some examples of different accounts that may be of interest:

Fixed Rate
A fixed rate savings account will provide the account holder with a guaranteed rate of interest for the duration of the agreement. Although the rate of interest may not be quite as high as some other types of account, the benefits of having them fixed for a set period should not be underestimated.

Instant Access
Customers who are looking for a particularly flexible savings account may wish to consider one that is ‘instant access’. This account may be particularly suited to older customers who feel they may need to access their savings at short notice.

Older customers who are higher rate tax payers, may wish to consider an ISA account, as they may be able to save a significant amount of money that they may otherwise have been taxed on.

Interest Instalments
Customers may also wish to consider how regularly they will receive interest on money in their savings accounts. Most accounts that are offered to customers will have their interest paid annually; however, there are some providers who may pay interest on a monthly basis.

Make sure you take the time to utilise the comparison tables for savings account deals on this page.

Instant Access Savings Accounts Deals
ProviderAccountInterest Rate (AER)TermApply
1.00%Instant AccessMore Info >
Earn 1.00% 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.
0.75%Easy AccessMore Info >
0.75% gross/AER on balances from £1,000 to £1 million. Guaranteed to be at least 0.50% above Base Rate** until 31st December 2017. Unlimited withdrawals without restriction or loss of interest.
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 Fixed Rate Bond Deals
ProviderAccountInterest Rate (AER)TermApply


per annum

£1,000Apply Now >
Earn 1.85% gross/AER fixed for 4 years. Save £1,000 - £250,000. No withdrawals during the term. Individual or joint accounts available. Annual or monthly interest.


per annum

£1,000Apply Now >
Earn 1.50% gross/AER fixed for 3 years. Save £1,000 - £250,000. No withdrawals during the term. Individual or joint accounts available
Growth Structured Deposits
ProviderPlan NameMaximum Potential Return*TermMore Info
Kick Out Deposit Plan


per annum

Up to
6 years
More Info >
Capital protected deposit plan with the potential to mature after years 3, 4, 5 and 6. If the plan matures early it will return 3% times the number of years the plan has been in force. Also available for Cash ISA and ISA transfer.
* Maximum Growth Yields are not guaranteed and subject to certain conditions

Savings accounts for the over 50s are largely similar to standard savings accounts - they sometimes offer a more competitive rate, but not always, so it is important to compare them with other accounts on offer.

With our free online comparison service, you can compare some of the leading deals side by side, so you can see what rate is on offer and some of the other features available, to help you choose the best savings account for over 50s to suit your needs.

There is a wide range of savings accounts available, including:

  • Notice Accounts – Notice must be given before you are allowed access to your cash, but for a higher interest rate.
  • No Notice Accounts - Instant access, includes limitations on withdrawals and requires notice  
  • Fixed Rate Accounts – Fixed interest rate for a fixed period of time
  • Regular Savings Accounts – Pay in a set amount each month by direct debit and in return get a higher interest rate
  • Internet Savings Accounts – Benefit from higher rates and more flexibility
  • Monthly Interest Accounts – Receive your interest monthly and watch your savings grow faster
  • Over 50s Accounts – Often include a bonus and offer a higher rate of interest.
  • Cash ISAs – Take advantage of your tax-free allowance