Help me choose
There are lots of savings accounts available, so let's run through a few of the main ones.
Easy access accounts
These are your standard savings accounts. There are two main types - unlimited access or limited access. Unlimited access means you can take money out as often as you like. Limited access means there's a limit on how often you can take money out.
Cash ISAs
ISA stands for Individual Savings Account. These are tax-free savings accounts, which means you don’t pay income tax on the interest you earn. We only offer cash ISAs but there are also stocks and shares ISAs, Lifetime ISAs and innovative finance ISAs.
Each tax year you're given an annual ISA allowance. For the 2025/26 tax year, it's £20,000.
There are two types of cash ISA:
Easy access cash ISAs:
Good for flexible savings. You can usually add money or take it out when you need to. It's best to check the terms of the account you choose.
Your interest rate can go up or down.
Fixed rate cash ISAs:
Good for lump sums you don't need access to.
You get a guaranteed interest rate for a set amount of time, usually between 1 and 5 years.
You usually cannot take money out or close your account before the ISA ends.
Regular savers
These are accounts to help you get into a savings habit and build up a lump sum. There's usually a limit on how much you can add each month and there might be a limit on how often you can take money out.
Fixed rate bonds
These are accounts for money you won't need to access for a while.
You get a guaranteed interest rate, often higher than easy access accounts.
It's fixed for a set amount of time, usually between 1 and 5 years.
You usually have a short amount of time to pay money into the account.
You usually cannot take money out or close your account before the bond ends.
How many savings accounts can I have?
You can have as many savings accounts as you like. But some providers might limit how many accounts of the same type you can open with them.
Saving for an emergency and want access to your cash at any time? An easy access account with unlimited access might work for you.
Looking to save up a lump sum or build a savings habit? A regular saver might be the account for you.
You’ve already saved some money and won’t need to access it for a while? A fixed rate account might be right for you.
Want to save without paying income tax on your interest? An ISA might work for you. Using your 2025/2026 tax year ISA allowance, you can only pay into one cash ISA with YBS.
The content on this page is for reference and is not financial advice. For impartial financial advice, try MoneyHelper.
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Savings guides
What is a Cash ISA?
Want to know more about Cash ISAs? Find out how they work here and how much you can deposit per tax year.
What is a fixed rate bond?
Fixed rate bonds are a type of savings account that locks in a fixed interest rate over a fixed period. Learn more about how fixed rate bonds work.
What is an easy access savings account?
Easy access savings accounts offer you flexibility around withdrawing money. There may be rules about how often you can withdraw.
What is a regular savings account?
Want to know what a regular savings account is? Find out how they work and what situations they may be good for here.