Don’t miss out – stop waiting to earn interest on your savings

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By Michaela Twite | Published - 11 Feb 2026

Important info

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.

For many of us, keeping our ISAs topped up every year is a no-brainer – we get to save and not pay tax on those savings.

But sometimes we’re almost too good at saving and use up our ISA allowance before the year is up. So what should we do with the rest of our money while we’re waiting to replenish our ISA in the new financial year?

While it may seem easiest to just leave that money in your current account while you wait, if your current account doesn’t pay interest, you’re missing out on money that you could be earning. If you move that money to a savings account, you’ll start earning interest straight away. Even better if that savings account allows you to take out your money when you want to (for example if you want to transfer it into an ISA later), without facing penalty charges.

As experts in the needs of people over 50, Saga Money has created a savings account that offers an enticing interest rate and is super easy to set up. That means just a few minutes out of your day to apply and your funds will be earning interest rather than sitting stagnant.

And you won’t pay any tax on your interest, as long as the total interest you earn is within the personal savings allowance. That’s £1,000 for basic rate taxpayers and £500 for higher-rate taxpayers. Your allowance could be higher if you’re on a low income and benefit from the starter rate for savings. Additional-rate taxpayers don’t get a personal savings allowance.

In partnership with NatWest, the Saga Easy Access Savings Account is designed for those over 50 who are looking for competitive interest rates minus the gimmicks and penalties. Alex Edmans, Product Director at Saga Money, says: “Our customers quite rightly want their money to work hard for them, but they also want savings to be hassle-free and transparent.

High street banks often offer interest rates well below the market average, or restrictions that limit savings capacity. “That’s why the new Saga Easy Access Savings Account has been designed to offer a competitive interest rate and a simple process to open the account. “More than 130,000 people already have an account with Saga, so you can save, safe in the knowledge that your money is with a trusted provider.”

The account offers a rate of 4.00% AER/3.93% gross p.a. (variable), which includes a bonus of 1.25% AER (fixed) for 12 months. Interest is paid monthly. On top of the competitive rates, the account also allows you to open it with as little as £1, and deposit up to £250,000 at one time (up to a maximum of £1 million).

You can add or withdraw money whenever you want, with no fees. You can withdraw up to £10,000 at a time, and up to £20,000 in a 24-hour period. As with other UK bank accounts, your money is protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per eligible person, per bank.

Alex says: “We’ve designed this account to answer the needs of our customers – simple to apply for, a gimmick-free rate and fabulous customer service. It ticks all the boxes.” At a time when achieving the best return on your savings can be complicated and long-winded, the Saga Easy Access Savings Account is designed to get you up and running and saving in no time. Easy peasy!

Don't miss out