Online Saver

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1.40% grossGross rates do not take into account deductions of income tax./AERAER stands for Annual Equivalent Rate and illustrates what the interest would be if interest was paid and compounded once each year. variableA variable rate of interest can go up or down throughout the lifetime of a savings account.

Manage your savings online 24/7 with our Online Saver.


Key benefits

  • Low deposit: open your account with just £1 and save up to £2 million
  • 24/7 access to your savings: save the way that suits you
  • Free unlimited withdrawals: with a choice of annual or monthly interest
Online Saver is provided by Bank of Ireland UK

How it works

Anyone who is a UK resident, resident in the UK for tax purposes and aged 18 or over can apply. Usually we can open your account quickly but you might be asked to provide ID and some documentation.

You can make deposits to your Online Saver whenever you choose by logging into our online banking service and following the simple instructions to either transfer money from your debit card, an eligible Post Office savings account or from your nominated accountA 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. .

You can make unlimited withdrawals from your Online Saver whenever you choose using our online banking service. There are no charges, penalties or notice periods. Simply log in and follow the simple instructions to transfer money to your nominated accountA 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. .

Get help with technical queries from our banking support team. Call them on 0845Calls to 0845 numbers may be charged at up to 5p per minute from a fixed line and calls from mobiles can be considerably higher. Calls may be monitored or recorded for training and compliance purposes. 600 5580 (between the hours of 8-10pm weekdays, 8-6pm Saturdays and 10-5pm Sundays) but please remember this is an online account.

You can only hold one sole Online Saver account and one joint Online Saver account at any one time.

How interest is paid

If interest is paid annually it will be in March: 1.40% grossGross rates do not take into account deductions of income tax./AERAER stands for Annual Equivalent Rate and illustrates what the interest would be if interest was paid and compounded once each year. variableA variable rate of interest can go up or down throughout the lifetime of a savings account.. Rate includes a 0.65% grossGross rates do not take into account deductions of income tax. fixed bonus for 12 months from account opening. After 12 months the rate will revert to our underlying rate, currently 0.75% grossGross rates do not take into account deductions of income tax. / AERAER stands for Annual Equivalent Rate and illustrates what the interest would be if interest was paid and compounded once each year. variableA variable rate of interest can go up or down throughout the lifetime of a savings account..

If interest is paid monthly it will be paid monthly on the first business day of each month: 1.39% grossGross rates do not take into account deductions of income tax. /1.40% AERAER stands for Annual Equivalent Rate and illustrates what the interest would be if interest was paid and compounded once each year. variableA variable rate of interest can go up or down throughout the lifetime of a savings account.. Rate includes a 0.64% grossGross rates do not take into account deductions of income tax. fixed bonus for 12 months from account opening. After 12 months the rate will revert to our underlying rate, currently 0.74% grossGross rates do not take into account deductions of income tax. / 0.75% AERAER stands for Annual Equivalent Rate and illustrates what the interest would be if interest was paid and compounded once each year. variableA variable rate of interest can go up or down throughout the lifetime of a savings account..

Is this account right for you?

Right for you

  • You’re happy to manage your account online and you don’t need telephone or in branch support
  • You’d like to access your savings whenever you need them
  • You’re looking for a choice of either monthly or annual interest payments
Try something else:
  • You prefer to manage your account by phone or in person
  • You want to earn tax-freeTax-free means the interest paid will be free from Income Tax and Capital Gains Tax. The tax advantages depend on your individual circumstances and the tax treatment of your ISA may change in the future. interest
  • You’re a trustee, charity, club, association, company, limited liability partnership, partnership or business

If our Online Saver isn't right for you, you could also check out our Online Bond, Fixed Rate Cash ISA and Reward Saver accounts.

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

Definitions

0845: Call costs may vary depending on your service provider. Calls may be monitored or recorded for training and compliance purposes.

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 are variable and 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%.

Tax-free: Tax-free means the interest paid will be free from income tax.

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


This table contains important information which you may want to print and keep for your records.

Key product information for our Online Saver

Account name Online Saver (Issue 12)
Interest rates (AERs)

If interest is paid annually:
1.40% grossGross rates do not take into account deductions of income tax. / AERAER stands for Annual Equivalent Rate and illustrates what the interest would be if interest was paid and compounded once each year. variableA variable rate of interest can go up or down throughout the lifetime of a savings account. for the first 12 months.
After 12 months the rate will revert to our underlying rate, currently 0.75% grossGross rates do not take into account deductions of income tax./ AERAER stands for Annual Equivalent Rate and illustrates what the interest would be if interest was paid and compounded once each year. variableA variable rate of interest can go up or down throughout the lifetime of a savings account.. (Starting rate includes a 0.65% grossGross rates do not take into account deductions of income tax. fixed bonus for 12 months from account opening)

If interest is paid monthly:
1.39% grossGross rates do not take into account deductions of income tax. / 1.40% AERAER stands for Annual Equivalent Rate and illustrates what the interest would be if interest was paid and compounded once each year. variableA variable rate of interest can go up or down throughout the lifetime of a savings account. for the first 12 months.
After 12 months the rate will revert to our underlying rate, currently
0.74% grossGross rates do not take into account deductions of income tax. / 0.75% AERAER stands for Annual Equivalent Rate and illustrates what the interest would be if interest was paid and compounded once each year. variableA variable rate of interest can go up or down throughout the lifetime of a savings account.. (Starting rate includes a 0.64% grossGross rates do not take into account deductions of income tax. fixed bonus for 12 months from account opening)

If interest is paid annually it will be in March, if interest is paid monthly it will be paid monthly on the first business day of each month

Tax status Interest will be paid after the deduction of tax at the prevailing rateThe rate of tax applied to savings interest is currently 20%., unless instructed otherwise.
Conditions for bonus payment None.
Withdrawals arrangement

No notice period. All withdrawals are sent by electronic payment to your nominated accountA 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. .

Access Online access only, no access via branch or phone.


Our online application form is quick and easy and should take less than 10 minutes to complete.

  1. Before you apply, check you meet our eligibility criteria:
    • You’re a UK resident, resident in the UK for tax purposes and aged 18 or over. This does not include the Channel Islands and the Isle of Man. The account is not open to trustees, charities, clubs, associations, companies, limited liability partnerships, partnerships nor may it be used for business purposes
    • You can provide the account number and sort code of a UK Bank or Building Society current account in your name(s). The account must offer Direct Debit payment facilities. This account will be your nominated accountA 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.
    • You can save at least £1
    • You’ve got a valid email address
    • You do not already hold an Online Saver in your name(s)
  2. Complete our simple online application 
    In most cases your account will be opened and your account number provided instantly at the end of the application process. You can also see how to apply under a Power of Attorney here.
    Once you’ve submitted an online application we’ll send you a confirmation email telling you about the next steps. If we can’t verify your identity and/or address electronically we will ask you to post us some documentation to help us complete our checks and open your account.
  3. Once your account is open
    If you are an existing online banking service user you can log in immediately using your existing log-in details.
    If you are a new customer or don’t use our online banking service we’ll post you a user ID and 6 digit security number (separately). You should receive both of these within 4 business days and, once you have them, you’ll be able to log-in and manage your account.
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Small print

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 is a trading name of Bank of Ireland (UK) plc which is registered in England & Wales (No. 07022885), Bow Bells House, 1 Bread Street, London EC4M 9BE. Post Office Limited is registered in England and Wales. Registered No 2154540. Registered office is 148 Old Street, London EC1V 9HQ. Post Office and the Post Office logo are registered trademarks of Post Office Limited.

Handy info

For more information on this account, check out the document below

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In most cases, your account will be open in less than 10 mins.

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