Start earning more on your savings straight away

Happy senior man in headphones and sportswear jogging running outside in autumn park.

Shutterstock/ Evgeny Atamanenko

By Michaela Twite | Published - 1 Apr 2026

Disclaimer

This article is for general guidance only and is not financial or professional advice. It contains promotional content and links to financial products. All figures and information in this article are correct at the time of publishing. Laws, entitlements, tax treatments and allowances may change in the future. Before you make any decisions, you should get independent professional advice.

With the new financial year starting in April, it’s impossible for UK residents to avoid price and tax hikes, whether that’s at the petrol pump, through an increased mobile phone bill or a tax raid on your income.

And people on a fixed income – such as those in retirement – may suffer more.

But there is some good news. Saga has introduced an increased interest rate for its savings account, meaning more money returning to your pocket.

Navigating these price increases can feel daunting, so the security of knowing your savings are growing is vital. However, not all savings accounts offer you that same level of security.

While you may see savings accounts from some well-known banks offering enticing rates, the small print can be hiding information that dramatically impacts those shiny offers. These include tight restrictions on the amount you can save, the need for a large deposit, initial rates that plummet in months, or penalties for withdrawing your money. You may also find that you need to have a current account with the same bank.

Saga has put its customers’ needs first, with an account designed for people over 50. As experts in this age group, the Saga Easy Access Savings Account, in partnership with NatWest, offers an account that is transparent, simple and effective.

In the first year you’ll enjoy a bonus rate, which will be followed by a competitive rate. There are already more than 130,000 people saving with Saga, so you can be assured your money is securely held.

Alex Edmans, Product Director for Saga Money, says: “While there is uncertainty in the world, it is understandable that people want to protect their money.

“The Saga Easy Access Savings Account works specifically to help people over 50 grow their income, while keeping it secure, and available as soon as you need it. This means you can withdraw funds the same day, safe in the knowledge you will not be charged.

“While your money remains in the account, it will be earning a healthy interest rate, so you can carry on with enjoying your days, without worrying about how your funds are performing.”

Your savings will benefit from a competitive rate of 4.11% AER/4.03% gross p.a. (variable), which includes a bonus of 1.25% AER (fixed) for the first 12 months. Interest is paid monthly.

You can open your account with as little as £1, and deposit up to £250,000 at one time, up to a maximum of £1 million. There are no fees to withdraw your money and you are free to deposit funds whenever you choose. Up to £10,000 can be taken out at a time, with a total of £20,000 able to be withdrawn in a 24-hour period.

Up to £120,000 of your money is protected under the Financial Services Compensation Scheme (FSCS), per eligible person, per bank, as with other UK bank accounts.

The account is simple to open, and Saga has a UK-based call centre team who are available to answer any queries you have to put your mind at ease. While the April price and tax rises might be unwelcome news, you can rest assured that your savings with Saga will be providing you with a safe pot of money, whenever you need it.

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