Personal Savings Account

Grow your savings effortlessly and earn competitive interest rates.

Our personal savings accounts

95 Day Notice - Issue 4

4.95% AER

Please note, the rate on this account will reduce to 4.70% AER from 18 December 2024

Our most popular accounts

up to 6.10% AER

Save smarter with Recognise Bank

Protect and grow your money with our award winning savings accounts. Whether you’re saving for a house or a holiday, be sure to find the rate that’s right for you.

All our savings accounts are FSCS Protected¹ completely free to use, and quick and easy to set up.

Enjoy competitive interest rates and deposit between £1,000 and £85,000 today.

Don’t take our word for it. See why our customers love us:

Our personal saving accounts

Important information

You can deposit between £1,000 and £85,000 (for individuals) and £170,000 (for joint accounts)¹.
We don’t charge fees – you can open an account for free, and benefit from daily support.
Interest is paid into your Recognise Bank savings account, or your nominated UK bank account monthly or annually – the choice is yours.
You must be over 18 years old and a UK resident to open an account.

AER stands for annual equivalent rate and illustrates the interest rate if it was paid and compounded annually each year.

Gross is the interest rate payable before tax is deducted.

¹Your eligible deposits with Recognise Bank are protected up to a total of £85,000 for individuals and £170,000 for joint accounts by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. This means in the unlikely event that Recognise Bank were to fail or become insolvent, any deposits you hold below this limit will be protected under this scheme. For more information visit www.fscs.org.uk.

Frequently asked questions

Can I open a savings account for my child or grandchild?

Yes, you can open a savings account for your child or grandchild however it must be in your name as the account holder must be over 18.

How do I close my savings account?

To close a savings account, you must contact us by phone, email or by sending us a secure message and request an account closure. Please refer to your product terms and conditions for more information or contact a member of the team.

Is a personal savings account the same as an ISA?

No, a personal savings account and an ISA (Individual Savings Account) are different. The key difference is ISAs offer tax-free interest whereas personal savings accounts are subject to tax.

How often is interest paid on a personal savings account?

Interest on our personal savings accounts is paid monthly or annually.

Do saving accounts affect credit scores?

Savings accounts themselves don’t directly affect your credit score.

Can I open a joint savings account?

Yes. Each co-owner can deposit, withdraw, and manage the account. Plus, your FSCS protection will be increased to £170,000.

Where can I find Recognise Bank’s historic interest rates?

You can view our historic interest rates here.