Spring is the New Easy Access Savings App Offering Decent Interest
Provider: Spring Savings
Verdict: The Spring app is an excellent choice for UK savers currently earning low or no returns in their current account, or those seeking a blend of high interest and complete access. It scores highly across clarity, cost, access, convenience, and transparency. Compared to both standard easy-access accounts and Paragon’s fixed-rate offerings, Spring merges flexibility with competitive returns, making it a compelling place for everyday savings.
Is Spring a Good Savings App?
Spring is a UK-based easy-access savings app launched by Paragon Bank in April, 2025. It offers a variable interest rate of 4.30% AER, notably higher than typical high-street current accounts. The app links seamlessly with your existing current account using Open Banking, enabling easy transfers without requiring you to switch your main bank.
I found the interface straightforward: you just download the app, connect your account, and start saving in a few minutes.
The rates are competitive at 4.30% AER on easy-access balances, with no tiered or bonus structures that restrict how much you can save.
As the average saver in the UK has £16,067 in savings that means you would earn £690.88 per year with Spring, however if you compare that to the current best savings rate on the market from AJ Bell’s Savings Hub of 4.7%, you’d receive £755.15. Plus you’d also get the chance to put your money to work harding with an investing account.
As Spring is provided by Paragon, your money is safe as funds are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000. Paragon Bank, is part of Paragon Banking Group PLC, a FTSE 250 company founded in 1985 that looks after more than £16 billion worth of savings.
Spring is a good choice for people who currently keep their money in a current account – Paragon says there’s £0.5 trillion of savings languishing in zero-interest or low-paying high street bank accounts. Plus, there are no withdrawal limits or penalties and you get fully flexible access 24/7 with UK-based app support.
Pros
- High interest (4.30% AER), instant access, zero fees
- No need to switch banks, seamless transfers, transparent terms
- Backed by a reputable, regulated institution.
Cons
- Rate is variable — could fluctuate with market
- Only available via smartphone app, so may not suit those preferring in-branch or web-only
- Not a cash ISA — savings are taxable (if beyond your allowance)
- Rates (4.5)
- Costs (5)
- Flexibility (4.5)
- App (5)
- Customer Service (4.5)
Overall
4.7Spring Savings Alternatives
You can get better rates of interest using a savings platform which lets you open lots of differet savings accounts all in one place. Check out the best and latest rates below:
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