08 456 100 100

Savings

More information

Related Links

Savings Account

Apply


A little everyday

Our Savings Account offers instant access for day to day savings. It's easy to manage, and it could be the ideal destination if you want to Sweep in a little savings each month from your 1st Account. And now it comes with a bonus rate of 1.00% AER/gross variable on top of the standard variable savings rate of 0.05% AER/gross with our Savings Balance Transfer offer. Terms and Conditions apply.

  • 1.00% AER/gross bonus interest on new savings for 12 months with our Savings Balance Transfer offer. Make sure you call us before you transfer new balances and we'll convert your account to our Savings Balance Transfer offer.
  • instant access by transfer to another first direct account
  • manage by phone, online, or by post
  • save from £1 with no maximum limit to how much you can save.

 

View all awards

Savings Account at a glance

Our Savings Account is designed for those wanting to save smaller amounts, with immediate access to your savings by internet or telephone. This information will give you a better idea of what's involved - though please make sure you read the Interest Rates and Charges and Terms and Conditions before you apply.

Our downloads are in a PDF format. To read them you'll need to have Adobe Reader 4.0™ or above. It's free and you can get Adobe Reader here.

Summary box and Key Product Information
Account Name

Savings Account.
Interest rates

Tiered interest rates on balances above £1.

Interest calculated daily and applied monthly.

See our interest rates and charges information for full details.
Tax status

Interest will be paid after the deduction of the basic rate of savings tax, currently 20%, unless you are eligible and have registered for non-taxable interest.
Conditions for bonus payment

No bonus payments on this account.
Withdrawal Arrangements

Instant withdrawals can be made by transfer to another first direct account in your name, over the phone, or via Internet Banking. Transfers to other banks may take longer.
Access

You must already hold a first direct 1st Account to apply for a Savings Account. The account can be operated online, by telephone or by post.

Savings Balance Transfer Terms and Conditions

At the end of the bonus interest rate period, your account will automatically revert to standard rates and your account number will remain the same. Your bonus is calculated on a daily basis on the money in your account above your 'Starting Balance' and will be paid into your account monthly, on the same date as your normal interest payments are received. The balance on your account is rounded down to the nearest £1 to calculate the 'Starting Balance' (e.g. if your balance as at the previous working day was £1,511.65, your starting balance for bonus interest will be £1,511). If your balance falls below your 'Starting Balance', no bonus interest will be earned until your balance goes over this amount again. The 'Starting Balance' is calculated as the balance of your account at the calendar day before you start to earn bonus interest.

If the account is closed within the 12 month period, bonus interest will not be paid for the month in which the account is closed.

 

Other things you should know

+Expand all
How much can I save?

You can open a Savings Account with just £1, and there's no limit to how much you can save.
How to manage my account

You can access and manage your account online, by telephone or by post. You'll also receive annual paper statements which you can choose to switch off and view online. Internal transfers to any other first direct account are instant, but transfers to accounts held elsewhere may take longer.
How to apply

To apply for a Savings Account you must already hold a first direct current account - our 1st Account. If you already have a 1st Account, you can open a Savings Account with just £1 online or by telephone on 08 456 100 100.
What else should I know?

Sole and joint savings accounts are available.

 

Savings Balance Transfer Offer at a glance

 

Summary box and Key Product Information
Account Name

Savings Account 1% Savings Balance Transfer
Interest rates

Interest is calculated daily and applied monthly.

We will pay you a bonus interest rate of 1.00% AER above the variable Savings Account rate (currently 0.05% AER, 0.05% gross p.a.) that applies to your account for the next 12 months on any additional money paid into this account above the 'Starting Balance'. The 'Starting Balance' is calculated as the balance of your account as at the calendar day before you start to earn bonus interest.

Your bonus is calculated on a daily basis on the money in your account above your 'Starting Balance' and will be paid into your account monthly on the same date as your normal interest payments are received. The balance on your account is rounded down to the nearest £1 to calculate the 'Starting Balance' (e.g. if your balance as at the previous working day was £1,511.65, your starting balance for bonus interest will be £1,511).

If your balance falls below your 'Starting Balance', no bonus interest will be earned until your balance goes over this amount again.
Tax status

Interest will be paid after the deduction of the basic rate of savings tax, currently 20%, unless you are eligible and have registered for non-taxable interest.
Conditions for bonus payment

The 1% bonus interest rate is paid monthly in addition to the standard variable rate offered on our Savings Account.
Withdrawal Arrangements

Instant withdrawals can be made by transfer to another first direct account in your name, over the phone, or via Internet Banking. Transfers to other banks may take longer.

If the balance falls below the starting balance, then no interest will be earned until your balance goes over this again. If your account is closed within the 12 month period, you won't earn any bonus interest for the month in which the account is closed.
Access

The account can be operated online, by telephone or by post.

Definitions

AER stands for Annual Equivalent Rate. This shows you what the gross rate would be if interest were paid and compounded each year.

Gross is the interest rate before the deduction of tax applicable to interest on savings accounts.

 

Apply


 

 

Can't find what you're looking for?

 
Close

How to apply for a Savings Account

Already a customer?

You can apply online through your Internet Banking. As you're currently logged in, just select Apply online from the left hand menu within Internet Banking

If you already have a Savings Account and want to take advantage of the additional balance transfer interest please call us on 08 456 100 100.

Log on to apply


To apply for a Savings Account online, log on to Internet Banking, select 'Apply', then choose 'Savings Account' from the left hand menu. Once your account has been set up, contact us on 08 456 100 100 before you transfer any external funds into the account to benefit from the additional balance transfer interest rate.

If you haven't yet registered for Internet Banking, simply click on the link below and enter your support and access ID details. If you haven't received your support and access IDs, please call us on 08 456 100 100.

Register for Internet Banking

Not yet a customer?

To open a Savings Account you will also need to open a first direct 1st Account, our current account.

Learn more about the 1st Account

You can also talk to us anytime on:
0800 24 24 24

Before you apply, please read the following:-

Interest rates and charges

Important Notes

first direct Account Terms and Conditions

Key Features Document

Please print and save a copy for your records.

Our downloads are in a PDF format. To read them you'll need to have Adobe Reader 4.0™ or above. It's free and you can get Adobe Reader here.

For more information about accounts and other products you can refer to the Money Advice Service ™ website.

Close