Only available to customers with one of our Co-operative Bank current accounts
For people who want instant access to their savings online and on mobile.
Open multiple accounts and split your money into separate savings pots for different things.
gross / AER variable
gross / AER variable
Interest is calculated daily and paid annually on 5 April into your Online Saver account
Yes. The interest rate is variable, which means that it could go up or down.
If we increase the rate, we’ll apply the higher rate immediately and we’ll tell you about the change within 30 days.
If we decrease the rate, we’ll give you 2 months notice of the change.
For more details about when and how we might change the rate, see the 'Changes' section of our Savings General Terms and Conditions (PDF)
This calculation is for illustrative purposes only and assumes:
To open an account you must:
You can open an account:
If the minimum amount of £1 isn’t paid within 30 days we may close the account.
There is a maximum balance of £1,000,000.
You can only manage your account via online and mobile banking, but if you do have any queries about your account you can contact us by phone or via a branch.
Yes. You can make as many withdrawals as you like.
You can only withdraw money via electronic transfer through online or mobile banking.
If you are or have previously been made bankrupt, you can still apply.
Interest earned from this account will count towards your Personal Savings Allowance. You may need to pay tax to HM Revenue & Customs if the total interest you earn is greater than your Personal Savings Allowance. Visit the Government’s website for more information.
Please read the important documents below and save copies of them for future reference.
AER stands for Annual Equivalent Rate and shows what the interest rate would be if it were paid and added to your account each year.
Fixed interest means the rate stays the same until the account matures.
Gross is the rate of interest payable before any tax is taken off.
Tax-free means you will not pay any tax on your interest.
Tax year runs from 6 April to 5 April.
Variable interest means that it could go up or down.
Business day is usually Monday to Friday excluding bank holidays.
Any reference to tax is based on our understanding of current tax regulations which may change in the future and depends on the customer's individual financial circumstances.
The Co-operative Bank reserves the right to decline to accept any application and/or deposit.
Your eligible deposits held by a UK establishment of The Co-operative Bank plc are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. This limit is applied to the total of any deposits you have with the following: The Co-operative Bank, Britannia and smile. Any total deposits you hold above the limit between these brands are unlikely to be covered.
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