MoneySavingExpert.com homepage
Cutting your costs, fighting your corner
Founder, Martin Lewis · Editor-in-Chief, Marcus Herbert
Search bar closed.
MSE News

Post Office launches market-leading savings account

postoffice_logo
Karl Talbot
Karl Talbot
Personal Finance Researcher
22 June 2018

The Post Office has today launched a market-leading easy-access savings account paying 1.33% interest.

The Post Office Online Saver offers the highest easy-access rate we've seen since February. The account allows unlimited withdrawals and can be opened with just £1.

At 1.33% AER variable (including a 1.08% bonus for 12 months), the account pays 0.03 percentage points more than the next best rate at 1.3% - which is available from four different providers: Shawbrook, Sainsbury's, Coventry Building Society and Virgin Money.

For more on these accounts and how they differ from one another, see our guide.

You can earn more by locking away cash or opening a bank account

While the new Post Office account offers the best easy-access deal, it's possible to earn boosted rates if you're happy to lock away your cash in a fixed savings account instead.

Currently, the top one-year fix is from Atom Bank at 2.05% AER, followed by Secure Trust Bank at 1.88%. For more details, including longer fixes paying up to 2.66%, see our fixed savings best-buys.

Alternatively, if you're happy to open a current account, it's possible to earn up to 5% on your savings.

Those accepted for the Nationwide FlexDirect account can earn 5% for a year on up to £2,500, while its linked regular also pays 5% and you can drip-feed in up to £250 per month.

Alternatively, Tesco Bank pays 3% guaranteed until April 2019 on up to £3,000 via its current account, and you can open two of them. For more on these accounts and others, see Current Account savings.

MSE Forum

Post Office launces market-leading easy-access savings account

Forum image
Tools and calculators

Clever ways to calculate your finances

Find your odds of getting top cards
Find your odds for getting a cheap loan
Compare broadband, phone & TV deals
Compares thousands of mortgages
Eight calcs to help you work out the cost
We ensure you’re on the cheapest tariff