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Saga Savings Platform

Enjoy access to a wide range of rates, terms and banks.

Grow your money with Saga and Flagstone

Saga partners with Flagstone to bring you a simple way to boost your savings. Together we provide the Saga Savings Platform, which lets you access multiple fixed-term savings accounts from a range of banks.

You can choose from more than 50 fixed-term accounts and move your money between them with ease. They're all available in one place and you only need to register your details with us once.

Flagstone offers a secure savings platform that's helped over 600,000 people transact more than £13 billion. The minimum deposit on the platform is £10,000.

Find a fixed rate that works for you

Fixed-term savings accounts grow your money at a set rate and for a set period. This means you know exactly how much interest you will earn.

Below you can see examples of the banks and accounts that are on our platform. It also offers access to other banks and terms, ranging from one month to seven years.

12 months fixed - SmartSave

4.90% | 4.90% AER/Gross* (fixed)

9 months fixed - SmartSave

4.91% | 4.89% AER/Gross* (fixed)

6 months fixed - SmartSave

5.00% | 4.94% AER/Gross* (fixed)

3 months fixed - SmartSave

5.05% | 4.96% AER/Gross* (fixed)

*AER means Annual Equivalent Rate. This shows what the interest rate would be over the course of a year. Gross is the interest rate before tax is taken off.

The rates shown above are subject to change at short notice. The rate you will receive is shown on the platform before you deposit. Once you open an account, the rate won’t change for the entire period of the fixed term.

The range of banks, accounts and rates you can access may differ for single and joint accounts. The range of rates may also differ due to factors such as what country you live in.

Start saving in three simple steps

Sign up to the Saga Savings Platform

Enter a few details about yourself. Once you’re signed up, you won’t need to share your details again.

Transfer your money

Deposit at least £10,000 into your Saga Savings Platform account.

Open savings accounts

Put your money in the savings accounts that offer the right terms and rates for you.

Apply now

We make things fair and easy

  • Register your details only once, then enjoy access to a range of fixed-term rates.
  • Spread your cash across multiple banks to maximise how much the FSCS could protect for you.
  • Pay no admin or management fees. Flagstone take a small cut of the partner banks' interest rates (up to 0.40%). They deduct this before rates appear on the platform, so the rate you see is always the rate you receive.
  • When an account’s fixed term ends, you can move your money to another account in a few clicks.

Get the help you need

Want to ask us about the Saga Savings Platform or find out more about fixed-term saving? Our expert team will be happy to talk to you.

0800 092 3398

Mon-Fri 9am-5:30pm
Sat - Closed
Sun - Closed
Excluding Bank Holidays

Apply now

Know that your money is safe

The Financial Services Compensation Scheme (FSCS) supports savers if a bank is not able to return their funds. It protects up to £85,000 (£170,000 for joint accounts) of eligible deposits held with UK banks on the Saga Savings Platform.

This limit applies to the total amount you have with each bank. If you have a total amount with one bank that’s above the limit, it’s not likely to be covered. Banks that are part of the same banking group (and share a banking licence) are treated as one bank.

If a bank is not able to return your funds, the FSCS will take care of the process. To find out more, visit the FSCS website.

What is the Saga Savings Platform?

Find answers to common questions about our platform below.
Who provides the service?

Saga partners with Flagstone Group Limited, the UK's leading cash deposit platform, to provide a range of fixed-term savings accounts.

Flagstone Group Limited is authorised by the Financial Conduct Authority (Reference Number 605504) under the Payment Service Regulation 2017 for the provision of payment services. Registered office: 1st Floor, Clareville House, 26-27 Oxendon Street, London SW1Y 4EL.

Saga is a registered trading name of Saga Personal Finance Limited. Company Registration No. 3023493. Registered Office: 3 Pancras Square, London N1C 4AG.

How does it work?

You can open a Saga Savings Platform account with a minimum of £10,000. Once your details are checked and your account is open, you can transfer funds to your Saga Savings Platform account. Then log in and select the fixed-term accounts that work best for you. If you want to open a Saga Savings Platform account, you can sign up today.

What are the benefits?

The Saga Savings Platform allows you to access fixed savings accounts that come with a range of rates and terms. The FSCS protects eligible deposits for all the accounts we offer.

What does the FSCS protect?

The Financial Services Compensation Scheme protects you when a financial services firm fails. It will protect £85,000 of the eligible deposits you have (£170,000 per joint account) with each bank on our platform. Banks that are part of the same banking group (and share a banking licence) are treated as one bank. To find out more, visit the FSCS website.

Who holds my cash?

Funds in your Saga Savings Platform holding account are held in trust by HSBC. While Flagstone is the trustee, you are the owner and have full control over your cash.

When you open a savings account through the Saga Savings Platform, the funds are held by the bank. This means you don't have any credit risk exposed to Flagstone. The FSCS will protect your money, just as they would if you were to deposit direct to that bank (eligibility criteria apply).

Flagstone is not a bank and does not hold your funds at any time.

Account types

Learn about the options we provide
What are fixed-term accounts?

Fixed-term accounts are also known as term accounts, fixed-rate accounts, and fixed-rate bonds. You must be prepared to leave your money in these accounts for the fixed amount of time. This can span from one month to seven years. You can't withdraw the money before the term ends. Interest rates are fixed, and the interest is added at maturity.

At maturity you can withdraw your money once it's back in your holding account. You could also select a new fixed term, provider and rate and move your money there.

What is a Sharia-compliant savings account?

Sharia-compliant savings accounts are provided by banks that follow Islamic law. Instead of a fixed interest rate, they offer an Expected Profit Rate (EPR). The EPR is driven by profits from the bank’s Sharia-compliant activities. Savers receive a share of the profit, but not any interest – which is prohibited by Islamic law.

The EPR is shown as a percentage, so you can compare it to the interest rates offered by banks that don’t follow Islamic law. As the EPR is a target, it's not guaranteed and could be reduced. 

In the unlikely event that a bank changes the EPR after you’ve opened an account, we’ll notify you in advance. You will have the option to accept the new rate or terminate your fixed term account. Your original deposit will be returned to you plus any profit you’ve earned up to that date.

All the banks you see on the Saga Savings Platform are FSCS-protected. You can find out more by reading each account’s terms and conditions.

Charges and tax

Learn about the costs you might incur
Are there any charges for this service?

We do not charge you to use the Saga Savings Platform. The interest rate that you see is the interest rate that you receive.

Flagstone receives payment from the partner banks in the form of a share in the interest that the bank pays. Flagstone then provides Saga with a part of this interest share.

Will I pay tax on my savings?

It depends. Basic rate taxpayers can generally earn up to £1,000 a year tax-free on their savings, known as a Personal Savings Allowance. For higher rate taxpayers, it's up to £500. Interest above the Personal Savings Allowance will be added to your income and taxed at the relevant rate. 

Taxation depends on your circumstances and rules may change. It's always a good idea to talk to a tax advisor. For more details, visit the HMRC website.

All Saga Savings Platform users receive an annual tax certificate at the end of the tax year. This provides details of the interest you’ve earned, helping you know if you need to complete a self-assessment tax return.