Instant Saver Reward
Earn more when you don’t withdraw
Our Saver Reward is an easy access account that gives you a Reward rate when you don’t make any withdrawals. Grow your funds faster by sticking to your savings habit.
4.85% AER variable
If you don't make a withdrawal in a month
3.25% AER variable
If you do make a withdrawal in a month
Get the app
Better rate when you don’t withdraw
Withdrawing? Your rate bounces back to the Reward rate each month
No minimum deposit or regular payment
What is a Saver Reward account?
Our Saver Reward is an easy access account designed to help you stick to your savings habit and reach your goals.
You’ll benefit from a Reward rate when you don’t make any withdrawals. And when you need to dip into your money, you can still access your funds whenever you need them and earn interest at our Withdrawal rate.
Our Reward savings account also has all the perks of our Instant Saver. You can open an account with £0 in minutes, pay in or withdraw instantly and get access 24/7 via the app. Plus we’ll keep you notified of everything important you need to know about your account.
What's the Saver Reward interest rate?
Here are the two rates for our Saver Reward.
Reward rate
Monthly interestGross* variable
4.75%
AER** variable
4.85%
Earns You
£4.85
per annum***
Withdrawal rate
Monthly interestGross* variable
3.20%
AER** variable
3.25%
Earns You
£3.25
per annum***
* Gross rate is the interest rate paid on an account before any taxes or other deductions are accounted for.
We will not deduct any tax from your interest. You are responsible for paying any tax due to HM Revenue and Customs on interest that exceeds your Personal Savings Allowance.
** ‘AER’ means ‘annual equivalent rate’ and is designed to make it easy for you to compare savings products. It tells you how much interest you’d earn if you put some money in an account and left it there for a full year. It takes account of things like how often the interest is paid and assumes any interest paid during that year is added to the balance and earns interest.
*** Per annum is the estimated total interest based on our gross rates that you will earn over 12 months if you deposit on the day of opening. The estimate also assumes you don’t make any further deposits or withdrawals in 12 months, and interest is paid directly into the account.
View our archived ratesHow does the Saver Reward work?
You can pay money into a Saver Reward as and when you like, and you’ll benefit from a higher Reward rate as long as you don’t make any withdrawals.
If you do need to withdraw, you can still access your cash instantly but you’ll get a lower Withdrawal rate for the current monthly interest period. And because we know life happens, we don’t put a limit on how many times you can withdraw.
One of the best things about our Saver Reward is that you don’t need to wait long to boost your savings again — you’ll switch back to the Reward rate at the start of the next monthly interest period.
The benefits of a reward savings account
Here are a few more reasons why you should open an account.
A rate that rewards you
Get our Reward rate when you don’t withdraw your money and watch your funds grow faster.
It’s easy to get back on track
If you do withdraw, your rate switches back at the start of the next monthly interest period, so you can easily get on track again.
Designed to help you save
Our Saver Reward helps you stick to your habit by rewarding you for not withdrawing, while still giving you instant access for those moments when you need to dip into your funds.
Get started in minutes
Once you download our app, you can open an account and start saving in just a few taps with no minimum deposit.
Add or withdraw whenever you like
Our Saver Reward is an easy access account, so you’re free to add or withdraw money whenever you want to once you’ve connected a UK current account in your name.
Everything in the app
Your Saver Reward is with you 24/7, wherever you are in our app. And we’ll also keep you notified of anything important you need to know.
Track your progress on your dashboard
Use your nifty interest dashboard to track how many savings streaks you’re on and how long until we pay your interest.
Competitive Withdrawal rate
Our Withdrawal rate is still competitive, so continue to earn interest at a rate that adds value straight into your pocket.
Your money is protected
Any money you save with Atom, including your Saver Reward, is covered by the Financial Services Compensation Scheme (FSCS) up to a total value of £85,000.
FSCS Protection
What's this all about? Well, in a nutshell your money will be covered by the Financial Services Compensation Scheme (FSCS), which means your deposits are protected up to £85,000 should anything happen to the bank.
How do I open a Saver Reward?
It’s incredibly easy to open a Saver Reward. We’ve done away with all the paperwork and fuss, so you just need to download our app, register then open an account.
Instant Saver Reward Summary Box
Account name: Instant Saver Reward
What are the interest rates?
| Reward rate |
|---|
| 4.75% Gross |
| 4.85% AER |
| Withdrawal rate |
|---|
| 3.20% Gross |
| 3.25% AER |
These rates are effective from 14/10/2024.
All interest is paid gross and will be added to your account.
Interest is typically paid on the day of the month you opened your account.
‘Month’, is the period of one month from the day of the month in which your account was opened.
The Reward rate of interest is paid in any month where a withdrawal is not made and the account is not closed.
The Withdrawal rate of interest is paid in any month where a withdrawal is made or the account is closed.
‘AER’ means ‘annual equivalent rate’ and is designed to make it easy for you to compare savings products. It tells you how much interest you’d earn if you put some money in an account and left it there for a full year. It takes account of things like how often the interest is paid and assumes any interest paid during that year is added to the balance and earns interest.
Gross rate is the interest rate paid on an account before any taxes or other deductions are accounted for.
We will not deduct any tax from your interest. You are responsible for paying any tax due to HM Revenue and Customs on interest that exceeds your Personal Savings Allowance.
Instant Saver Reward Summary Box_v1.1(web). Effective from 04/12/2024 (Rates effective from 14/10/2024).
Ready to reward yourself?
Download our app, register and apply in just a few minutes.
Find out more about our app
Discover our other savings accounts
Explore the other products available in our range.
Instant Saver
Need an account with excellent flexibility? Our Instant Saver is an easy access account that gives you 24/7 access to your funds to add or withdraw whenever you want.
Find out more
Fixed Saver
Lock in a rate with our Fixed Saver. Choose terms from 6 months to 5 years, then watch your savings grow. Ideal if you’ve already saved up a lump sum that you don’t need access to right away.
Find out moreWant to know more?
Check out our most popular Saver Reward Frequently Asked Questions below, or kick back and read our Saver Reward T&Cs.