Instant Saver

  • Easy access: online, in branch, by phone, ATM or post
  • Open with just £500: top-up whenever you choose

Post Office Money Instant Saver is provided by Bank of Ireland UK.

How it works

1.25% gross/AER variable

Includes a 1.15% gross fixed bonus for the first 12 months.

Quick and easy access to your money, with unlimited free withdrawals.

Start saving with just £500, after that you can deposit from just £1 all the way up to the maximum balance of £1 million.

Making a deposit

Make deposits in branch (by cash or cheque), by post (cheques only) or from an account of your choice using your bank’s online/phone banking services. If you want to save regularly, you can set up a standing order from your current account to your Post Office Money Instant Saver.

Withdraw savings in branch, online, by phone or post. Or, use your cash card at any one of 60,000 ATMs nationwide.

Earning Interest

Earn interest at 1.25% gross/AER variable for the first 12 months. This rate includes a 1.15% gross fixed bonus for 12 months from account opening. After 12 months the rate reverts to the underlying rate of 0.10% gross/AER. Interest is paid annually in March. No interest or bonus interest is payable on balances below £500.

Are you eligible?

Before applying check you’re eligible. Post Office Money Instant Saver is open to anyone aged 11 or over and a UK resident for tax purposes. Aged between 11 and 15? You’ll need an adult who is either a parent, grandparent or legal guardian to sign your application and provide documents to verify your name and address.

Is this right
for you?
Right for you if
  • You’ve got at least £500 to save
  • You want unlimited free withdrawals
  • You want a savings account with a cash card
Try something else if
  • You want a fixed rate of interest
  • Your balance is likely to drop below £500
  • You’d like a regular income or tax-efficient benefits from your savings

If Instant Saver isn’t right for you, you could take a look at our Online Saver, Online Bond, Premier Cash ISA or Fixed Rate Cash ISA accounts.


Your savings are protected by the Financial Services Compensation Scheme. Find out how your savings are protected.


Summary Box

Key Product Information for our Instant Saver Savings Account

Account name

Post Office Money Instant Saver
Interest rates AERs The interest rate is variable. The rate includes a fixed bonus for 12 months from account opening. After 12 months the rate reverts to the underlying rate. Current interest rates can be found on the interest rates page.
No interest or bonus is payable on balances below £500.
Tax status Interest will be paid after the deduction of tax at the prevailing rate, unless instructed otherwise.
Conditions for bonus payment None
Withdrawals arrangement Unlimited free withdrawals. There is no notice period.
You can withdraw up to £1,000 per day in cash via our branches or ATMs.
You can withdraw up to £15,000 per business day via our telephone or online service.
Withdrawals over £15,000 can be issued by cheque or transfer to your nominated account and this can be requested by writing to us.
Access Web, phone, post, ATM and branch.


0800: Calls to 0800 numbers are normally free from UK landlines and mobile phones. Calls may be monitored or recorded for training and compliance purposes.

0345: Calls cost no more than calls to geographic numbers (01 or 02). Calls from landlines and mobiles are included in free call packages.

AER: AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

Gross: Gross rates do not take into account deductions of income tax.

Nominated account: A nominated account is a current account that we link to your savings account so that you can transfer money between accounts safely and securely whenever you like. It should be a UK personal bank or building society account in your name(s) that accepts Direct Debits.

Prevailing rate: The rate of tax applied to savings interest is currently 20%.

Variable: A variable rate of interest can go up or down throughout the lifetime of a savings account.

Small print

Rates correct as at 21 September 2015.

Post Office Limited is an appointed representative of Bank of Ireland (UK) plc which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Bank of Ireland (UK) plc is entered on the Financial Services Register and its Register number is 512956. Bank of Ireland UK is a trading name of Bank of Ireland (UK) plc which is registered in England and Wales (No. 07022885). Registered office: Bow Bells House, 1 Bread Street, London, EC4M 9BE. Post Office Limited is registered in England and Wales. Registered number 2154540. Registered office: Finsbury Dials, 20 Finsbury Street, London, EC2Y 9AQ. Post Office Money and the Post Office Money logo are registered trademarks of Post Office Limited.


Instant Saver

Give us a call

0800 169 7500 8am-10pm, Mon-Fri
8am-6pm, Sat
10am-5pm Sunday and Bank Holidays