Digital bank Zopa is boosting returns for savers with the launch of a market-leading Easy Access savings rate of 4.75% AER, available exclusively to customers who open or hold a Biscuit current account and deposit £500 per month.
The new rate combines Zopa’s standard 3.25% AER variable Easy Access rate with a 1.50% AER fixed bonus for 12 months, unlocked by meeting the monthly deposit requirement. There’s no cap on monthly deposits and customers can save up to £250,000 in total, with unlimited access and no withdrawal penalties.
The launch comes as UK inflation remains persistently high, prompting savers to look for more competitive returns on their cash. Zopa’s new bonus rate reinforces its position among the most rewarding digital banks in the UK.
Is Biscuit the UK’s best-value free current account?
Since launching this summer, Zopa’s Biscuit account has attracted close to 150,000 customers, offering one of the most generous combinations of interest, cashback, and perks available. According to Zopa, customers can earn up to £647 per year through a mix of savings interest, cashback, and regular saver bonuses — making it the UK’s best-value free current account, according to the bank’s analysis.
Rated #1 by MoneySavingExpert for cashback and perks, Biscuit can be opened in minutes through Zopa’s streamlined digital onboarding, providing an instant virtual card and immediate access to the bank’s Smart Saver, which was recognised as one of the UK’s best savings accounts at the 2024 British Bank Awards.
Better banking, better savings
The new 4.75% AER rate supports Zopa’s mission to deliver “better banking all around” by rewarding customers for active money management and loyalty.
Wilf Haines, spokesperson for Zopa, said:
“Our goal is to give customers better value and simpler ways to grow their money. By linking everyday banking with competitive savings, Biscuit makes it effortless to earn more on your cash.”
The new 4.75% Easy Access savings rate builds on and effectively replaces Zopa’s previous Biscuit launch offer, which provided up to £256 per year through a combination of 2% AER on current account balances, 2% cashback on bills, and 7.10% AER on regular savings up to £300 per month. While those benefits rewarded smaller, habitual savers, the new structure focuses on higher balances and greater flexibility, allowing customers to earn market-leading returns on larger deposits while keeping full access to their money.
With flexible access, no fees, and one of the highest easy-access rates on the market, Zopa’s latest offer underlines the growing competitiveness of digital-first banks in the UK savings market.
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Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
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