For people who want instant access to their savings online, by mobile, over the phone or in branch.
Our Smart Saver offers you multi-channel access to manage your savings - allowing you to save whenever and however you like.
gross / AER variable
gross / AER variable
Interest is calculated daily and paid annually on 5 April into your Smart 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 be a UK resident aged 16 or over.
You can open an account:
There is a maximum balance of £1,000,000
If the minimum amount of £1 isn’t paid within 30 days we may close the account.
Yes. You can make as many withdrawals as you like.
You can withdraw money:
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.
be a UK resident
be 16 years of age or above
Approval is based on a credit check, an assessment of your personal circumstances and is subject to status.
Please read these important documents↓ and save them for future reference.
Apply online. It will take around 10 minutes to complete this application. You can save your progress and come back at any time.
You have confirmed you are eligible for the account and have read all the important documents
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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