Instant access
We’re reducing some of our savings interest rates
We have made the difficult decision to reduce interest rates for some of our savings accounts with effect from 22nd April 2020. If you’re applying for an account, please see the Summary Box for the current and new interest rates or:
Interest rates for our current savings products
Interest rates for our savings products no longer available
Bank of England base rate change
On 11th March 2020, the Bank of England base rate decreased from 0.75% to 0.25%.
On 19th March 2020, the Bank of England base rate decreased from 0.25% to 0.10%.
Our instant access savings accounts let you take full control of your money, with the option to make payments whenever you need to.
- Earn a variable rate of interest, paid annually.
- Open an instant access savings account with as little as £1 (and deposit up to £1,000,000).
- Useful if you need access to your money, especially for emergencies.
- No limits on withdrawals.
- Useful if you like to manage your savings by transferring money to and from your current account.
- Our instant access accounts offer a number of different ways to manage your money depending on the account but all offer online and mobile banking.
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- Comes with a variable rate of 0.75% gross AER, paid annually on 5 April.
- Can be opened with £1 and have a maximum balance of £1,000,000.
- Allows you to make unlimited withdrawals and deposits, using online and mobile app banking.
- You cannot deposit or withdraw cash and/or cheques from this account.
- Available as a sole account only.
To apply, you need to be:
- A UK resident.
- 16 or over.
- Registered for and apply through our online banking or mobile app.
- A Co-operative Bank current account customer.
- You can have either a Co-operative Bank Current Account, Current Account Plus, Privilege Current Account, Privilege Premier Current Account, Student Current Account, Cashminder Account, Everyday Extra Current Account or any other account we specify in the future.
Approval is based on an assessment of your personal circumstances.
Learn more -
To apply, you need to be:
- A UK resident.
- 16 or over.
Approval is based on an assessment of your personal circumstances.
Learn more
Prefer an ISA with instant access?
Online Cash ISA
- Earn 0.75% tax-free AER variable, paid annually on 5 April.
- Open your account with £1.
- Make withdrawals and deposits using mobile app and online banking.
Cash ISA
- Earn 0.56% tax-free AER variable, paid annually on 5 April.
- Open your account with £1.
- Access your account online, using our mobile app, in branch or over the phone, and deposit cheques at your local Post Office®.
Compare our instant access savings accounts
The main difference is how you access and manage your account.
| Online Saver |
|---|
| Interest paid annually |
| 0.75% Gross / AER variable |
| Find out more |
| Smart Saver |
|---|
| Interest paid annually |
| 0.46% Gross / AER variable |
| Find out more |
Tools
Our savings tools can help you plan a budget and learn more about our ISAs.
Still undecided about which ISA?
Use our ISA Selector to help find the right one for you.
Use our ISA SelectorHelp for existing customers
Help and information about savings accounts for our existing customers.
Any reference to tax is based on our understanding of current tax regulations which may change in the future and depends on your individual financial circumstances.
The Co-operative Bank reserves the right to decline or accept any application and/or deposit.
- Remember you can subscribe to a Co-operative Bank/ Britannia Cash ISA as long as you have not subscribed to another cash ISA with another provider in the current tax year.
smile, The Co-operative Bank and Britannia are trading names of The Co-operative Bank plc, which is a member of the Financial Services Compensation Scheme (FSCS).
Gross
The gross rate of interest is the interest rate payable before any income tax is deducted (if you do pay tax).
AER
This stands for Annual Equivalent Rate and shows you the rate of interest you’d receive if it was compounded and paid once each year.
Tax Free
The contractual rate of interest payable where interest is exempt from income tax.
AER
Stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
Variable
This means the rate could go up or down. But we’ll notify you in advance if we plan to lower our interest rates.
Gross
The gross rate of interest is the interest rate payable before any income tax is deducted (if you do pay tax).
AER
This stands for Annual Equivalent Rate and shows you the rate of interest you’d receive if it was compounded and paid once each year.
Variable
This means the rate could go up or down. But we’ll notify you in advance if we plan to lower our interest rates.
Contact us
If you'd like more help & information, you can:
