Starling Bank has introduced a new Easy Saver account to its platform, aimed at providing a simple and seamless saving experience for its customers.
The new Easy Saver account offers an interest rate of 4% AER on balances up to £1 million, with daily interest calculations and monthly payouts, which is very competitive with savings rates offered by rival banks.
It is tailored for the challenger bank’s personal current account holders and allows for unlimited, fee-free deposits and withdrawals, with daily interest calculations.
The account is accessible via the Spaces section of the Starling app, and customers can complete applications quickly through the app.
Starling’s chief customer officer Maria Vidler said: “Easy Saver helps our customers with a highly competitive interest rate, penalty-free access, and full integration into their Starling app so they can see everything in one place.”
Alongside the launch of the account, Starling announced it plans to introduce more new products and services in 2025.
You can read The Good Money Guide’s 2019 interview with the Starling Bank’s founder Anne Boden here.
How does Starling Bank Easy Saver compare with rivals?
As can be seen from the table below, the interest rate offered by the Starling Bank Easy Saver account is at the top of the range among the firm’s rivals, including digital-first challengers as well as traditional banks.
| Provider | Comparison |
|---|---|
| Monzo |
Standard interest rate on savings of 3.60% AER variable in its Instant Access Savings pot, which can rise to 4.10% depending on account plan. |
| Revolut |
Offers a rate of 2.39% on its Standard paid plan, charging £3.99 per month. Maximum interest rate of up to 4.75% on its Ultra £45 per month premium plan. Paid daily. |
| NatWest |
Offers an AER interest rate of 6.17% for balances between £1 and £5,000 in its Digital Regular Saver account. This falls to 1.60% for balances over £5,000. |
| Lloyds |
Offers rates between a 1.15% and 1.60% variable for its Easy Savings account, depending how much money is held. Maximum rate only available above £100,000 |
| Barclays |
Offers an interest rate of 1.66% on its standard Everyday Saver account up to £10,000, available to all customers, past which this falls to 1.16%. The highest rate offered by Barclays is 5.12% AER on its Rainy Day Saver account up to £5,000, which is only available to Barclays Blue Rewards members and Premier Banking customers. |
Robin has more than six years of experience as a financial journalist, most of which were spent at Citywire, and covers the latest developments in the investing, trading and currency transfer space. Outside of work, he enjoys reading literature and philosophy and playing the piano.
You can contact Robin at robin@goodmoneyguide.com
