Exclusively for our current account customers, aged 16 and over. You must be resident in either Jersey, Guernsey, Gibraltar, Isle of Man or the UK to open a Savings Builder account.
If you want to become a regular saver then the Savings Builder could help you get into the savings habit. With instant access to your savings and an interest bonus for saving money each month it's a savings account that's flexible when you need it to be.
To earn interest every month, your balance must grow by at least £50 each month and if your savings don’t grow by at least £50, you don’t earn interest for that month.
TickStart saving with as little as £1
TickOpen your account online through your Online banking
TickInstant access to your savings whenever you need them
TickAvailable for all of our current account customers, aged 16 years and over

In Detail: Savings Builder
Balance grows by less than £50 a month: regular saving condition is not met |
Balance grows by at least £50 a month: regular saving condition is met |
|
Balance | ||
£1 - £5,000 | 0.00% |
1.50% |
£5,001 - £10,000 | 0.00% | 1.50% |
Over £10,000 | 0.00% | 0.45% |
- Interest is paid on the above tiers on a stepped basis which means you’ll earn a different rate on each portion of your balance within the above tiers. If, for example, you hold £11,000 in your account, and you have satisfied the interest condition, your interest rates for that monthly period will be: 1.50% on the first £5,000, 1.50% on the next £5,001-£10,000 and 0.45% on anything over £10,000.
- Interest is calculated daily and paid on the first business day of the month. You’ll be able to see and access the interest in your account on the following day.
- To earn interest each month, your balance must grow by at least £50.
- Our monthly interest cycle runs from close of business on the second-last business day of one month, to close of business on the second-last business day of the following month.
- Close of business times depend on whether you pay in your money in-branch or by using our telephone, online or mobile banking services.
- Interest is calculated daily and paid on the first business day of the month. You’ll be able to see and access the interest in your account on the following day.
Your payment will count towards the following monthly interest period.
If due to the late payment you have not grown your balance by £50 in that month, you will earn no interest that month.
Yes, the interest rate is variable.
The rate may increase or decrease for any of the reasons set out in Term 10.3 of the
Personal Banking Account Terms and Fees to account for the Bank of England's base rate changes or changes in the rates paid by other banks.
If the rates are going down we'll give you at least 60 days' notice. If they are going up, we'll inform you before the change or shortly afterwards. Term 10.4 of the Personal Banking
Account Terms and Fees contain details of the notice we'll give you.
£50 deposited every month; regular saving condition is met |
Initial deposit at account opening |
Balance after 12 months (includes £600 deposited over the 12 months) |
Interest earned |
£1,000 | £1,620.02 | £20.02 | |
£5,000 | £5,680.44 | £80.44 | |
£10,000 | £10,752.51 | £152.51 |
£25 deposited every month; regular saving condition is not met |
Initial deposit at account opening |
Balance after 12 months (includes £300 deposited over the 12 months) |
Interest earned |
£1,000 | £1,300 | £0.00 | |
£5,000 | £5,300 | £0.00 | |
£10,000 | £10,300 | £0.00 |
These are only examples and do not take into account your individual circumstances. They assume that no further deposits or withdrawals are made; there is no change to interest rates and tiers; and any interest earned stays in the account.
TickYou must be aged 16 years or over to open an account.
TickYou must already have a current account with us, or apply for a current account with us at the same time as opening your Savings Builder account.
TickYou can only have one Savings Builder account in your sole name and only one Savings Builder account in joint names with another person.
- Accounts can be opened online, in branch or by telephone banking. To open an account online or by phone, you will need to be a registered user of these services.
- No minimum deposit is needed to open the account and you do not need to pay money in on a regular basis; and there is no maximum balance limit.
- Each month your balance must grow by at least £50 to earn interest. If your balance grows by less than £50 in any month, you will not earn interest.
- Money can be managed online, via the app, by telephone or in branch. You can also pay money into your account at one of our cash deposit machines.
No, it's free to set up and manage your Savings Builder account. You will not be charged any additional account fees.
Yes, Savings Builder is an instant access savings account means that you can withdraw or transfer your money at any time.
However, if your withdrawal means that your overall balance has not increased by £50 on your previous balance amount recorded on the second-last business day of the previous month, you will not earn interest for that month.
You can withdraw or transfer money:
- in branch
- online, by telephone or within the mobile app.
Money can be transferred to any other account based in the UK, Channel Islands, Isle of Man or Gibraltar.
There are daily limits on the amount you can transfer from your account online, by telephone or mobile banking. You can find out the current daily limits by calling telephone banking or asking in branch.
You will not earn interest for the month of closure.
Annual Equivalent Rate (AER) - This is a notional rate used for interest bearing accounts which illustrates what the gross credit interest rate (excluding any bonus interest payable) would be if paid and compounded on an annual basis. It helps you to compare the effective rates of credit interest on different accounts.
Gross is the interest rate paid before the deduction of tax
p.a per annum (per year)
We want to make sure that you have all the information you need before you open an account with us. So before you do, please take some time to read and save, download or print this information.