Saga's Easy Access Savings Account, which launched in January 2026, currently offers an Annual Equivalent Rate (AER) of 4.5%. This rate positions it among the top five instant-access deals available, with no withdrawal limits or restrictions on who can open the account.
However, the headline rate includes a bonus of 1.64% that is fixed for 12 months. After this period, the interest rate will revert to a lower underlying rate, which is currently 2.86%. This underlying rate is slightly above the average instant-access rate of 2.53% recorded in July.
While the account is marketed towards savers aged 50 and above, it is open to people of any age. Customers can deposit between £1 and £250,000 and withdraw funds as needed. Interest is calculated daily and paid monthly, offering a regular income option. The interest rates are variable and can change at any time.
The account is provided by NatWest, and eligible deposits up to £120,000 are protected by the Financial Services Compensation Scheme (FSCS). If you have existing savings with NatWest, Royal Bank of Scotland, or Ulster Bank, your combined balance counts towards the same FSCS limit.