Savings

Savings

Saga offers a range of savings accounts to suit a variety of needs for the over 50s.  This includes fixed rate savings accounts, 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The interest rates and the accounts available can change or be withdrawn, so check regularly to see what's on offer.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

Call to speak to an adviser

0345 850 0664

Mon – Fri 8am - 8pm

Saga Savings accounts are provided by Birmingham Midshires.  

What Saga can offer you


Saga Telephone Easy Access

Earn up to
0.70%​
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
1.00%​
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 1 Year Fixed Rate Savings Account

Earn
1.15%​
Gross/AER

Fixed on balances from £1 with our 1 Year Fixed Rate Savings Account. 

Interest is paid yearly or monthly. 

Withdrawals are not permitted.. 

How do they compare?

  Interest Rate Gross/AER (Annual Interest)
Term  Withdrawals
 Tax Free  Joint Accounts Allowed
 Minimum Deposit
     
Saga Telephone Easy Access
0.70% on balances from £1,000 1 Year
Permitted
No charge payable 
No
Yes
£1
Find out more
Saga ISA Easy Access
1.00% on balances from £1
1 Year
Permitted
No charge payable
Yes
No
£1
Find out more
Saga 1 Year Fixed Rate Savings Account
1.15% 1 Year
Not permitted No
Yes
£1
Find out more

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 1 Year Fixed Rate Savings Account

Earn a fixed rate of interest over a fixed term. Initial deposit should be for the full amount as additional deposits are not allowed. Withdrawals are not permitted.

 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.


The Base Rate and your savings account

The recent announcement

On 2 August 2018 the Bank of England announced an increase in the Bank of England Base Rate from 0.50% to 0.75%.

Changes to our interest rates

​To view the changes to our rates click here.

What is the base rate?
The base rate, also known as the Bank Rate , affects the interest rates offered by Banks, Building Societies and other financial institutions. It is set by the Bank of England , which regularly reviews it and can increase or decrease at any time. 

How can a Base Rate change affect your account?
The Base Rate is one of a number of things we look at when reviewing the interest rates of our savings accounts. 
How your interest rate is affected by a Base Rate change depends on whether it’s a fixed or variable account. If you’re unsure what type of account you have, you can check your terms and conditions.

Accounts with a fixed rate
Your account will not be affected.

Accounts with a variable rate
Your interest rate could change. Whenever the Base Rate changes, we review the interest rates of our variable accounts and could decide to change them. If we decide to lower your rate, we will write to you to let you know. We will not write to you if we increase your rate. If your account tracks the Bank Rate, your rate will change on the first working day of the month. 

How to check what your rate is
You can view all rates for accounts we offer on our interest rate pages or by signing into online banking and selecting your account.

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