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This article is for general guidance only and is not financial or professional advice. Any links are for your own information, and do not constitute any form of recommendation by Saga. You should not solely rely on this information to make any decisions, and consider seeking independent professional advice. All figures and information in this article are correct at the time of publishing, but laws, entitlements, tax treatments and allowances may change in the future.
With 2026 now well under way, your new year’s resolutions might already to be starting to feel like a distant memory. But now is a great time to look ahead to ensure that this year is your most successful and financially secure one yet.
A simple way to start that process is by making sure your savings are not languishing in an account that is not working hard for you. Some savings accounts from big-name banks are paying just 1% interest, or in some cases even less.
But choosing not to rock the boat and stick with a low-interest savings account – one that’s likely linked to your current account – may see the buying power of your money eroded by inflation. That’s because the cost of living may be increasing at a faster rate than the rate of interest on your existing savings.
To choose a better account, you need to see past the gimmicky offers and find a savings account that cuts through the confusion.
While it’s easy to be drawn in by shiny-looking offers that promise great interest rates, there are normally catches – rates that drop in as little as six months, penalties for withdrawing your funds or a requirement for you to open a current account with the same bank. Some also insist on large deposits, or they limit the amount you can save.
Saga Money are experts in the needs of those over 50, and have found an approach to savings that is both simple and effective. The Saga Easy Access Savings Account comes with a bonus rate in the first year, which is followed by an above-average rate. More than 130,000 people save with Saga, so you can deposit your money safe in the knowledge you’re with a trusted brand. No fuss, no gimmicks.
Alex Edmans, Product Director for Saga Money, says: “As the UK’s specialist in providing products for people over 50, we know that our customers want products that are competitive, flexible and free from the hidden surprises or gimmicks that are commonly seen elsewhere. Many other providers aren’t making an effort to cater specifically for people over 50, so we want to make sure that they feel supported and have a product that really meets their needs.”
With the Saga Easy Access Savings Account, in partnership with NatWest, you’ll receive a rate of 4.00% AER/3.93% gross p.a. (variable), which includes a bonus of 1.25% AER (fixed) for 12 months. The interest is paid monthly.
Beyond the competitive interest rates, you’ll be able to open your account with just £1 and deposit up to £250,000 at one time – up to a maximum of £1 million. You can withdraw your funds whenever you want, up to £10,000 at a time and £20,000 in a 24-hour period, and will not pay fees to do so. As with other UK bank accounts, up to £120,000 of your money is protected under the Financial Services Compensation Scheme (FSCS), per eligible person, per bank.
You can also rest assured knowing that applying for the account is simple, and there is expert advice from a UK-based customer care team available.
Some resolutions may be hard, but changing to a safe and effective savings account is one that will be easy to stick to.
To open a Saga Easy Access Savings Account, you’ll need to:
Get your money moving with our great rate.
In partnership with NatWest. Interest paid monthly. Available to UK residents 18+ only.
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