The Post Office offers a wide range of financial products, including savings, mortgages, foreign exchange, credit cards and insurance. These can be accessed in branch, online or by telephone.
Compare Post Office savings accounts - Ordered by interest rate
Your money is protected with the FSCS
- The FSCS is the UK's compensation fund
- Covered for up to £85,000
- Independent of the government and the financial industry
What do the FSCS do?
The Financial Services Compensation Scheme, or the FSCS, is the UK’s independent compensation service for customers as a last resort if your bank, building society or credit union goes out of business. It is free for consumers and protects your savings up to £85,000 and £170,000 for joint accounts.
Only financial service companies that have been authorised to do business in the UK by the Financial Conduct Authority (FCA) or the Prudential Regulation Authority (PRA) are covered by the scheme. Most savings accounts are covered by the FSCS, but it’s worth making sure your money is protected.
How do I make a claim?
How long will a claim take?
Post Office Money Instant Saver (Issue 11)
Protected up to £85k UK wide Protected Interest Rate (AER) This is the money made on what you save. AER illustrates what the interest rate would be if interest was paid and compounded once each year. This can go up and down if the rate is variable, and will stay the same if it’s fixed.
Interest on this account will be paid monthly
This is the money made on what you save. AER illustrates what the interest rate would be if interest was paid and compounded once each year. This can go up and down if the rate is variable, and will stay the same if it’s fixed.
Interest on this account will be paid monthly
Term This is how long you agree to save your money for, or lock it away for with a fixed account. It is agreed before you open your account. There may be a penalty if you withdraw your money before the end of the fixed term.
This is how long you agree to save your money for, or lock it away for with a fixed account. It is agreed before you open your account. There may be a penalty if you withdraw your money before the end of the fixed term.
Notice period This is the period of time a bank or building society requires advance notice before you can withdraw any of your money.
This is the period of time a bank or building society requires advance notice before you can withdraw any of your money.
Deposit This is the minimum amount you need to open this account. Displayed is also the maximum amount of money you can add to the account. Some accounts allow additional deposits. Check on the provider’s site, conditions can apply.
This is the minimum amount you need to open this account. Displayed is also the maximum amount of money you can add to the account. Some accounts allow additional deposits. Check on the provider’s site, conditions can apply.
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Post Office Savings Guide
If you’re looking to put some money in savings, the Post Office has a number of options to help you make the most of that money, ranging from its regular savings accounts to fixed rate bonds and Individual Savings Accounts (ISAs).
Some of the Post Office savings accounts allow you to deposit and withdraw cash whenever you want, whereas others lock your money in until the end of the agreed term.
ISAs allow you to earn interest on the money you earn without having to pay tax. The amount you are allowed to invest in an ISA changes at the start of each new tax year, so be sure to check this year’s allowance if you’re thinking of opening an ISA.
Picking the right account for you will depend on what you are saving for, how long you intend to save for and whether or not you will be making withdrawals from the account.
If you’re looking to provide for your children’s future, the Post Office also has accounts tailored towards children in the form of Child Trust Funds and children’s savings accounts.
The first £85,000 (as of 30 January 2017) of any savings held with the Post Office is now protected by the Financial Services Compensation Scheme (FSCS).