Best Savings Accounts for Students UK 2024 (Highest Interest Rates)
With interest rates higher than they’ve been in years, keeping your money in a savings account actually earns you something meaningful now. If you’ve got money sitting in a current account earning 0%, you’re leaving free money on the table.
Here are the best savings accounts for UK students in 2024.
1. Chase Saver Account
Best for: Easy access with a great rate
Chase’s saver account consistently offers one of the best easy-access rates in the UK, and the app is excellent.
Key features:
- Competitive easy-access rate (check current rate on Chase website)
- No minimum balance
- Instant access to your money
- Linked to Chase current account
- FSCS protected up to £85,000
Why it’s great for students: No minimum deposit, no lock-in, and a great rate. You need a Chase current account to open one, but that’s also free and comes with 1% cashback on spending.
2. Chip Savings Account
Best for: Automated saving
Chip uses AI to analyse your spending and automatically move small amounts into savings — without you having to think about it.
Key features:
- Competitive interest rates
- Auto-save feature
- Instant access
- No minimum balance
- FSCS protected
Why it’s great for students: If you struggle to save manually, Chip does it for you. It connects to your bank account and moves money you won’t miss into savings automatically.
3. Marcus by Goldman Sachs
Best for: Simple, high-rate easy access savings
Marcus offers a straightforward easy-access savings account with a consistently competitive rate and no tricks or fees.
Key features:
- Competitive easy-access rate
- No minimum deposit
- No maximum term — access your money anytime
- FSCS protected
- Manage everything online
Why it’s great for students: Simple, reliable, and no minimum deposit. Marcus is backed by Goldman Sachs, one of the world’s largest banks.
4. Monzo Savings Pots
Best for: Students already using Monzo
If you already bank with Monzo, their savings pots let you separate money for different goals and earn interest at the same time.
Key features:
- Create multiple savings pots for different goals
- Competitive rates on fixed and easy-access pots
- Instant access on easy-access pots
- No minimum deposit
- FSCS protected
Why it’s great for students: If Monzo is your main bank, keeping savings in a pot means everything is in one app. You can create pots for rent, holidays, emergencies, and more.
5. Yorkshire Building Society Regular Saver
Best for: Students who can save a fixed amount monthly
Regular saver accounts typically offer the highest interest rates — in exchange for committing to save a fixed amount each month.
Key features:
- Higher interest rates than easy-access accounts
- Save £10–£500/month
- Fixed term (usually 12 months)
- FSCS protected
Why it’s great for students: If you can commit to saving even £50/month, the higher rate means you earn significantly more interest than a standard account.
Tips for Saving as a Student
- Pay yourself first — move money to savings the day your student loan or wages arrive
- Use the 50/30/20 rule — 50% needs, 30% wants, 20% savings/investing
- Separate pots for separate goals — rent fund, emergency fund, holiday fund
- Don’t keep more than £500–£1,000 in a current account — move the rest to a savings account earning interest
Final Thoughts
Even small amounts in a high-interest savings account add up. The best account for most students is Chase or Marcusfor easy-access savings, or Monzo pots if you’re already a Monzo customer. Start with your emergency fund first, then build from there.