Savings accounts | Savings interest rates UK

Savings accounts are designed to hold your money while you do not need it and to grow at a particular rate of interest. Some involve putting away your money for a set period of time, whereas others allow you easy access to your funds.

Thanks to the Personal Savings Allowance, most people won’t pay any tax on the interest they earn from their savings account, depending on how much interest you earn and your income tax bracket.

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We’re constantly improving our online, branch and telephone services to make sure we’re fit for the future. To do this we carry out regular tests on our services.

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FSCS protects your deposits

Eligible deposits with Kent Reliance are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit protection scheme.

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© OneSavings Bank plc 2020.

AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. As every advertisement for a savings product will contain an AER you will be able to compare more easily what return you can expect from your savings over time.

krbs, Kent Reliance Banking Services and Kent Reliance are trading names of OneSavings Bank plc. Registered in England and Wales (company number 7312896). Registered office: Reliance House, Sun Pier, Chatham, Kent, ME4 4ET. OneSavings Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (registered number 530504). We subscribe to the Financial Services Compensation Scheme and the Financial Ombudsman Service. Visit the Money Advice Service