Children's Savings
Start saving for their future with our Future Fund account.
Open on behalf of your child or let them apply in their own name if they’re aged 7 or above.
Bank of England base rate change
On 8 May 2025, the Bank of England base rate decreased from 4.50% to 4.25%. View more on our base rate information page.
We are reducing our variable savings interest rates
As a result of the Bank of England base rate reduction on 8 May, the variable rates across our savings accounts will reduce on:
- Base Rate Tracker 15/05/2025
- All other variable rate savings 23/07/2025
Understanding savings accounts
Tools and practical guides to help you start saving.
Savings accounts explained
Find out how savings accounts work and how to earn more interest
Personal Savings Allowance
Find out about the Personal Savings Allowance and how it affects you
Why choose The Co-operative Bank
Born from the co-operative movement in 1872, we’re proud to be the only UK high street bank with a customer-led Ethical Policy.
Our customers know their money will be kept safe and not be used in a way that conflicts with their values and ethics.
Savings terms explained
AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest were paid and added to your account each year.
Business day is usually Monday to Friday excluding bank holidays.
Calculated daily means the interest earned is based on the amount of money in your account at the end of each business day
Calendar month means from midnight on the first day of a month to 11.59:59pm on the last day of the month.
Fixed interest means the rate stays the same until the account matures.
Gross is the rate of interest payable before any tax is taken off.
Tax-free means you will not pay any tax on your interest.
Tax year runs from 6 April to 5 April.
Variable interest means that it could go up or down.
Please note: any reference to tax is based on our understanding of current tax regulations which may change in the future and depend on the customer's individual financial circumstances.
The Co-operative Bank reserves the right to decline or accept any application and/or deposit.
Financial Services Compensation Scheme
Your eligible deposits held by a UK establishment of The Co-operative Bank p.l.c. are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. This limit is applied to the total of any deposits you have with The Co-operative Bank and smile. Any total deposits you hold above the limit between these brands are unlikely to be covered.
Please read further information on the FSCS scheme here or visit their website.
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