Savings

Savings

Saga offers a range of savings accounts to suit a variety of needs for the over 50s.  This includes fixed rate bonds, Cash ISAs, as well as variable rate accounts offering instant access.

The interest rates and the accounts available can change or be withdrawn, so check regularly to see what's on offer.

0345 850 0664

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0345 850 0664

Mon – Fri 8am - 8pm

Saga Savings accounts are provided by Birmingham Midshires Savings parent

What Saga can offer you


Saga Telephone Easy Access

Earn up to
0.45%​
Gross/AER

Saga Telephone Easy Access will pay a variable interest rate for 12 months. Interest is paid either annually on the anniversary of the first deposit, or monthly on the first banking working day of each month. 

At the end of the term your account automatically changes to a Saga Telephone Standard Saver.




 

Saga ISA Easy Access

Earn
0.85%​
Tax free/AER

Saga ISA Easy Access will pay a variable interest rate for 12 months. Interest is paid either annually on the anniversary of the first deposit, or monthly on the first banking working day of each month. 

At the end of the term your account automatically changes to a Saga ISA Standard Saver.

 

Saga Fixed Rate Savings Accounts

Earn up to
1.85%​
Gross/AER

With our 2 Year Fixed Rate Savings Account and 1.50% gross/AER with our 1 Year Fixed Rate Savings Account on balances from £1+. Interest is paid either annually on the anniversary of the first deposit, or monthly on the first banking working day of each month.

Withdrawals permitted subject to a charge on the 2 year account but not permitted on the 1 year account.

How do they compare?

  Interest Rate Gross/AER (Annual Interest)
Term  Withdrawals
 Tax Free  Joint Accounts Allowed
 Minimum Deposit
     
Saga Telephone Easy Access
0.45% on balances from £1,000 1 Year
Permitted
No charge payable 
No
Yes
£1
Apply now
Saga ISA Easy Access
0.85% on balances from £1
1 Year
Permitted
No charge payable
Yes
No
£1
Apply now
Saga 1 Year Fixed Rate Savings Account
1.50% 1 Year
Not permitted No
Yes
£1
Apply now
Saga 2 Year Fixed Rate Savings Account 1.85%   2 Years Subject to charge  No  Yes  £1  Apply now

Helping you decide

Helping you decide

Saga Telephone Easy Access

The convenience of easy access to your savings when you need it. Withdrawals are permitted without charge.

Saga ISA Easy Access

Saga ISA Easy Access will pay a variable interest rate for 12 months. Withdrawals are permitted without charge.

Saga Fixed Rate Savings Accounts

Available for fixed term deposits between 1 and 2 years. Initial deposits should be for the full amount as additional deposits are not allowed. Withdrawals permitted subject to charge for terms over 1 year.

 Who is the provider and how are they regulated?

The deposit taker for Saga Savings accounts is Birmingham Midshires, a division of Bank of Scotland plc, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 169628. Registered office: The Mound, Edinburgh, EH1 1YZ. Registered in Scotland No. SC327000.

Important information

Financial Services Compensation Scheme

Read full details of the Financial Services Compensation Scheme.

Historical Rates

Review the historical rates of previous savings products.

Privacy Policy

Read our full privacy policy.

To view the Privacy Policy you'll need Adobe Acrobat Reader.


How will the change to the Base Rate affect my savings account?

On 2nd November 2017 the Bank of England announced an increase in the Bank of England Base Rate from 0.25% to 0.50%.

What is the Base Rate (also known as the Bank Rate)?

The Base Rate is set by the Bank of England and it affects the interest rates offered by Banks, Building Societies and other financial institutions. The Base Rate is reviewed monthly and can be increased or decreased by the Bank of England at any time. 


What does it mean for my savings account?

The Bank of England Base Rate is one of a number of factors we take into account when reviewing interest rates. Any change in the Base Rate will form part of ongoing rate reviews across our savings product range.

How will I know if the interest rate of my account is affected?

If you have a savings account which:
- tracks the Bank Rate, your rate will change on 1st December 2017.
- has a fixed rate of interest, your account will not be affected by this change.
-has a variable rate of interest, your account may be affected.  For more details to see if the rate on your account has changed take a look here.

If you are unsure which type of account you hold, please refer to your account conditions.

Other ways of checking your savings interest rate

You can view all rates for accounts we offer on our interest rate pages or by signing into online banking.

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