Applying for a Saga Telephone Easy Access Account

The convenience of easy access to your cash when you need it and earning interest when you don’t

1. Check that you’re eligible

  • You are 50 or over.

  • You are a UK resident.

2. Have the following handy

  • Your bank details.
  • Your permanent residential address details.
  • Your national insurance number.

3. Choose

  • Choose the type of account you’re looking for, press the ‘Apply now’ button and complete the simple online application process (this normally takes around 5 minutes).

Saga Savings accounts are provided by Birmingham Midshires.

Saga Telephone Easy Access

 Monthly interest
 Yearly interest

Earn up to


Gross/AER variable

Earn up to


Gross/AER variable

Saga Telephone Easy Access will pay a variable interest rate for 12 months.

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

Withdrawals explained

To make deposits and withdrawals to and from your Saga Variable Rate Savings Account,
you’ll need to set up a linked account. This can be any personal current account at a UK bank or building society,
as long as it comes with a chequebook and accepts both Direct Debits and Faster Payments.

The linked account must be in your name, but can be held with another person if you are both
able to set up Direct Debits on the account.

Remember that we do not require a notice period or charge you for making withdrawals, so you’ll have
unrestricted access to your savings. There are no fees or charges payable to access
funds within a Saga Variable Rate Savings Account.


Important information

Payment of interest

Interest is calculated daily and is paid yearly or monthly. Interest can be paid into your account, another Saga Savings account or any UK bank or building society account that accepts Faster Payments.

Cancellation Period

If you are not happy with your Account, you can cancel it within 14 days of opening it.


The General Savings Conditions should be read together with the Account Conditions.

If there is any conflict between these General Savings Conditions and the Account Conditions then the Account Conditions shall have priority. 

The General Savings Conditions apply to all Saga Savings accounts provided by Birmingham Midshires.

To view the General Savings Conditions you'll need Adobe Acrobat Reader.

Fees and charges

There are no fees or charges payable on a Saga Variable Rate Savings Account.

Financial Services Compensation Scheme

For details of the Financial Services Compensation Scheme click here.

Historical Rates

For historical rates of previous savings products please click here.

Privacy Policy

For our full privacy policy, please click here.

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

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.

We’re here to help

Call to find out more

Mon – Sat 8am-8pm (excluding bank holidays)