These examples assume no other deposits or withdrawals are made, there are no interest rate changes, and the interest earned stays in the account.
EASY ACCESS ACCOUNT
Get a competitive rate of 4.50% AER / 4.41% gross p.a. (variable). Includes a bonus of 1.64% AER (fixed) for 12 months. New customers only.
Switch up your savings with Saga
Great rate
Get more from your money with a competitive rate and a fixed bonus for 12 months.
True easy access
Take out your money instantly – with Faster Payments and no fees or rate penalties.
FSCS protected
Rely on FSCS protection up to £120,000 per person and UK-based customer support.
Tailored to you
Choose an account that’s designed for people over 50 in partnership with NatWest.
Summary box
The interest rate for the Saga Easy Access Savings Account is:
Annual interest rate with bonus
bonus rate of 1.64% AER (fixed) for first 12 months. Available to new customers only.
4.50% AER / 4.41% gross* p.a. (variable)
Annual interest rate without bonus
(underlying interest rate)
2.86% AER / 2.82% gross* p.a. (variable)
*AER stands for Annual Equivalent Rate. It shows the rate if the interest is paid and compounded once a year. Gross is the interest rate before tax.
- Interest is calculated daily and paid into your account monthly.
- You can read more about the interest rate in the account terms document.
Can Saga change the interest rate?
The interest rate is variable, which means it could go up or down in the future. But we will always give you 14 days’ notice of any reduction in rate. The 12-month bonus rate is fixed and will not change. If you close your account, you will earn interest up to the final day. You will receive the account balance plus any accrued interest.
How much could you earn over 24 months?
| Initial deposit | Balance after 12 months | Balance after 24 months |
|---|---|---|
|
£1,000 |
£1,045.08 |
£1,074.98 |
|
£50,000 |
£52,250.20 |
£53,742.92 |
|
£100,000 |
£104,500.29 |
£107,485.65 |
How do I open and manage my account?
You can open and manage your Saga Easy Access Savings Account online. Once your account is open, you can add and withdraw money at any time. Payments in and out of your savings account can only be made to and from your nominated bank account. You will need a smartphone or camera enabled tablet to apply.
- You can deposit between £1 and £250,000 at a time.
- You can hold up to £1 million in your account.
We accept any of the following government issued documents:
- UK Driving licence (full or provisional)
- Passport (all nationalities)
- EU/EEA national identity card
Eligibility
To open a Saga Easy Access Savings Account, you'll need to:
- Have a UK address and mobile number
- Have a UK personal bank account
- Live in the UK and be aged 18 or over
- Be a UK tax resident only
Can I withdraw money?
- You can withdraw up to £10,000 at a time, and £20,000 within a 24-hour period.
Apply for your savings account
How your money is protected
Eligible deposits up to £120,000 are protected by the Financial Services Compensation Scheme (FSCS). This applies to the total of any deposits you have with Saga Money, NatWest and NatWest’s associated brands. Deposits above the limit are unlikely to be covered. For more information, visit the FSCS website.
Important
Please take some time to review the important legal information here:
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