Select Access Saver

For people who want a higher interest rate if they don’t withdraw, and have easy access to their money when they need it.

The ideal savings account if you want to save regularly, aren't planning on withdrawing your money any time soon, but still have access to your money whenever you need it.

0.34% gross/AER variable if you make 4 withdrawals or less in a calendar year

0.06% gross/AER variable if you make 5 withdrawals or more in a calendar year


  • Start saving with £1
  • Manage your account online, by mobile, over the phone, in branch or by post
  • Make up to 4 withdrawals in a calendar year and keep the higher rate
  • Unlimited deposits
  • Sole and joint accounts available

Summary box for Select Access Saver

Account name

Select Access Saver

What is the interest rate?

0.34% gross/AER variable if you make 4 withdrawals or less in a calendar year

0.06% gross/AER variable if you make 5 withdrawals or more in a calendar year

Interest is calculated daily and will be paid into your account annually on 5 April.

What happens after my 5th withdrawal in a calendar year?

The lower interest rate will apply from your 5th withdrawal for the remainder of the same calendar year.

After my 5th withdrawal, when will I get the higher interest rate again?

The interest rate on your account will revert to the higher rate on the last Business Day of the calendar year. From that date, you’ll be able to make another four withdrawals before getting the lower interest rate.

Can The Co-operative Bank change the interest rate?

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 month’s 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)

What would the estimated balance be after 12 months based on a £1,000 deposit?

£1,003.40 where you have made 4 withdrawals or less in a calendar year, giving you the higher interest rate

£1,000.60 where you have made 5 withdrawals or more in a calendar year, giving you the lower interest rate

This calculation is for illustrative purposes only and assumes:

  • The 12 months starts on the 5 April and is also the day you made your last withdrawal
  • We haven't changed the interest rate in the 12 month period
  • You haven't made any additional deposits

As you'll receive the higher interest rate until your 5th withdrawal, you're unlikely to experience a full 12 months at the lower rate. This scenario has been used to demonstrate the impact of making more than four withdrawals.

How do I open and manage my account?

Open an account

To open an account you must be a UK resident aged 16 or over.

Please note:

  • You can only have one Select Access Saver account of the same issue at a time
  • If you close a Select Access Saver account, you cannot open another one of the same issue in that same calendar year
  • If you have an earlier issue of the Select Access Saver you can still apply for this account

You can open an account:

  • online
  • in branch
  • in sole or joint names
  • with a minimum deposit of £1 - to be paid within 30 days

There is a maximum balance of £1,000,000.

How do I pay into this account?

You can:

  • Transfer money from your Co-operative Bank accounts or other bank accounts
  • Pay in cash or cheques at a branch
  • Pay in cheques by post or at your local Post Office.

How do I manage this account and get in contact?

  • You can manage your account via online and mobile banking, over the phone or in branch
  • You can contact us over the phone or via a branch

Can I withdraw money?

Yes. You can make as many withdrawals as you like.

However, you'll get a lower rate of interest after your fifth withdrawal in a calendar year.

You can withdraw money:

  • online - by transfer to an account with us or another provider
  • in branch
  • by telephone banking
  • by requesting a bankers cheque - there is a charge for this

Additional information

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.

Apply for a Select Access Saver

You must:

  • be a UK resident
  • be 16 years of age or above

Approval is subject to a credit check and an assessment of your personal circumstances.

More about credit checks for savings accounts

Before you apply

Please read these important documents and save them for future reference.

Apply online

It will take around 10 minutes to complete this application.

Savings terms explained

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.

FSCS logo

Financial Services Compensation Scheme

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.

Please click here for further information or visit

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