Best joint savings accounts for couples in the UK 2024

Aiming to join forces as a couple or with friends to pool your savings into one pot? Then a joint savings account could be a good idea.

If you’re saving for a shared goal with a friend, family member or partner, a joint savings account could be a handy way of combining your cash. There are some decent interest rates around too. We also have a guide on joint current accounts if you’re looking for an account that comes with a debit card for everyday spending.

FSCS logo
Is my money safe?

The Financial Services Compensation Scheme (FSCS) guarantees that it will step in to compensate the first £85,000 (£170,000 for a joint account) you have saved with a UK-authorised bank, building society or credit union in the event that the business goes bust.

Compare joint savings accounts

Table: sorted by interest rate, promoted deals first
1 - 14 of 1175
Name Product UKFSA-SAV Account type Withdrawals Open with Deposit protection Rate Open via Incentive Table product description Apply link
RCI Bank UK – Freedom Savings Account
Variable
Instant access
£100 - £250,000
FSCS logo
protected
4.45% AER variable
Open via: website
Go to site
View details
Yorkshire Building Society – Easy Access Saver Issue 3
Variable
Instant access
£1 - £500,000
FSCS logo
protected
4.35% AER variable
Open via: website
Go to site
View details
Charter Savings Bank – Easy Access - Issue 55
Charter Savings Bank – Easy Access - Issue 55
Variable
Instant access
£1 - £1,000,000
FSCS logo
protected
4.31% AER variable
Open via: website
Go to site
View details
first direct – Regular Saver Account
Regular Savings
Withdrawals not permitted
£25 - £3,600
FSCS logo
protected
7% AER fixed for 1 year
Open via: website, mobile app
Put away between £25 and £300 for a fixed 12 month term. If you save £300 every month for 12 months and qualify for the 7.00% AER/gross p.a. interest rate, you'll earn approximately £136.50 interest (gross). Interest is calculated daily and paid 12 months after you opened the account. No partial withdrawals allowed. Early closure will result in interest being paid at the standard account variable rate.
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TSB – Monthly Saver
Regular Savings
Withdrawals permitted
£25 - £3,000
FSCS logo
protected
6% AER fixed for 1 year
Open via: branch, website
Go to site
View details
Santander – Santander Edge Saver (Issue 2)
Variable
Instant access
£1 - £2,000,000
FSCS logo
protected
6% AER variable (on first £4,000) (includes a 1.49% bonus )
Open via: branch, website
Go to site
View details
Finder Award
OFFER
Plum – 95-day Notice Pocket - Premium
Variable
95 days notice needed
From £0
FSCS logo
protected
5.2% AER variable
Open via: mobile app
Get £10 cashback after saving over £100 in your first 90 days with Plum. T&Cs apply.
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View details
GB Bank – Raisin UK - 95 Day Notice Account
Variable
95 days notice needed
£1,000 - £85,000
FSCS logo
protected
4.9% AER variable
Open via: website, mobile app
Go to site
View details
Moneybox – 95 Day Notice Account
Variable
95 days notice needed
£1 - £85,000
FSCS logo
protected
4.8% AER variable
Open via: mobile app
Go to site
View details
United Trust Bank – UTB 180 Day Notice Base Rate Tracker
United Trust Bank – UTB 180 Day Notice Base Rate Tracker
Variable
180 days notice needed
£5,000 - £1,000,000
FSCS logo
protected
4.75% AER variable
Open via: website
The interest rate tracks the Bank of England Base Rate for the duration of the account being open.
Go to site
View details
Chase Saver with Boosted Rate
Variable
Easy access
Up to £3,000,000
FSCS logo
protected
4.75% AER variable (includes a 1.2% bonus )
Open via: mobile app
4.65% gross for 6 months inc. 1.25% AER fixed bonus for 6 months on top of the standard Chase saver variable rate, currently 3.5% AER (3.45% gross). Interest paid monthly. Offer may be withdrawn at any time. 18+, UK residents. Chase current account required. Available to new customers joining from 9/12/24 for your first 31 days. T&Cs apply – see chase.co.uk/saver-boosted.
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Sidekick Money – Sidekick High Yield Cash Reserve 4
Sidekick Money – Sidekick High Yield Cash Reserve 4
Variable
Instant access
£1,000 - £500,000
FSCS logo
protected
4.75% AER variable (includes a 0.45% bonus )
Open via: mobile app
Go to site
View details
United Trust Bank – UTB 30 Day Notice
United Trust Bank – UTB 30 Day Notice
Variable
30 days notice needed
£5,000 - £1,000,000
FSCS logo
protected
4.65% AER variable
Open via: website
Go to site
View details
QIB (UK) – Raisin UK - 95 Day Notice Account
QIB (UK) – Raisin UK - 95 Day Notice Account
Variable
95 days notice needed
£1,000 - £85,000
FSCS logo
protected
4.65% AER variable
Open via: website, mobile app
Go to site
View details
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How to find the best joint savings account

The best joint savings account for you will depend on what you need and how you plan to use the account. Here are some factors to consider when you’re shopping around for a joint savings account:

  • Joint names. It might sound like an obvious point, but not every savings account has the option to be opened and managed jointly – make sure the one you choose does!
  • Interest rate. An important factor if you’re aiming to set money aside and grow it at the same time. In the current era of low Bank of England interest rates, it can be hard to find savings accounts with inflation-beating returns, but they are still out there to be found (and there are definitely some out there with woeful interest rates to avoid).
  • Ease of opening. Can you open the account easily online or do you both have to trek to a branch with a case full of documents to open the joint savings account? Also worth checking is if one of you must already have a current account with your prospective banking provider in order to open a savings account.
  • Access to money. Can you get to the funds easily if you need to? For example, does the savings account come with a cash card if you want to withdraw money from an ATM? And can you get a cheque book if you want one?
  • Management. Can you both add money to the account and view your joint savings through online or mobile banking?
  • Minimum balance. As this is a savings account, double-check if there is any minimum balance required to open or maintain the account.

What type of savings account should we get?

As with savings accounts for individuals, there are a range of different accounts available from a variety of providers. These will vary by the interest rate offered, the type of access you want (easy access or fixed-term), and even the rewards you may be able to get with them.

If you’ve already got a savings account, your bank might even let you turn it into a joint account by adding a co-saver. But it’s usually a good idea to compare other accounts in case you could get a better deal elsewhere.

Some banks and building societies offer fixed bonds with terms of up to 5 years until maturity. These types of products may be of interest if you want to save for a joint long-term goal. Learn more about the best savings accounts to save money.

Who can open a joint savings account?

There aren’t too many rules prohibiting who can open a joint savings account. For example, you do not need to be married or in a civil partnership to open a joint account. You also don’t have to live at the same address. So, you can usually open these types of joint accounts with friends, relatives, flatmates and partners. Some banks also offer joint savings accounts for more than two people, although these products are difficult to find. Many large high street banks limit joint savings accounts to two joint account holders.

The only circumstances where you might find it more difficult to open a joint savings account is if a student wants to open one with a parent or if one of the people wanting to open the account is under 18 years old. But this will largely be down to the bank’s own rules, so it’s worth checking before you apply.

Pros and cons of joint savings accounts

Pros

  • Good way to save for a shared goal with your friend, family member or partner.
  • Potential to earn interest on the money you’ve put aside.
  • Ability to jointly manage the funds.

Cons

  • You need to trust the other person implicitly as you’ll both have access to all of the money, regardless of who deposited it into the account.
  • If there is a dispute, the account may be frozen while an agreement is reached on how to split the funds.

With joint accounts, communication is key — make sure you have a similar attitude towards spending and saving and that you’re both clear on what the account is for.”

Katherine Denham, award-winning personal finance expert

An overview of our joint savings accounts comparison

Rates up to 8% AER
Number of accounts 1,175
Number of brands 128
Minimum investment £0
Maximum investment £10,000,000
Opening options Website, mobile app, branch, post, telephone

Bottom line

Like with any type of joint account, it’s important that you feel able to trust whoever you’re sharing the account with, because a co-saver could easily withdraw every penny without your permission.

But once you’ve got that issue out of the way, opening a joint savings account can be a great way to save towards a shared goal, be it a house deposit, a holiday or a car.

While the choice of joint savings accounts on the market is dwarfed by the sheer variety of savings accounts for individuals, you can still find a decent account option for your needs.

Frequently asked questions

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
To make sure you get accurate and helpful information, this guide has been reviewed by Katherine Denham, a member of Finder's Editorial Review Board.
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Deputy editor

Michelle Stevens is a deputy editor at Finder, specialising in banking, credit, loans and mortgages. She has a journalism degree from the University of Sheffield and has been a journalist for 15 years, writing on topics including fintech, payment systems and retail. In her spare time, Michelle likes to travel, explore new foodie experiences and attempt to improve her own culinary skills. See full bio

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Michelle has written 127 Finder guides across topics including:
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