first direct savings accounts and interest rates
first direct offers a variety of savings accounts with interest rates up to 7%.
![first direct first direct](https://www.finder.com/niche-builder/6352de615c8ce.png)
Since its launch in 1989, first direct has branded itself as the bank of the future and offers a range of savings accounts for its customers. It has no branches and prefers to operate online and via its telephone service.
first direct's top savings rate of 7% is available on its regular savings account.
The best savings account depends on what you want from your savings. If you're after fast access to your money, then an easy-access account should suit you. However, if you're happy to lock your money away for a time to access a higher rate, then a fixed-rate bond is a good option.
Finally, if you're looking to maximise your returns and shield them from income tax, consider an ISA. Below, we've listed the different types of accounts first direct offers, plus the highest interest rate currently available.
Savings account types include | Easy access, cash ISAs, fixed-rate bonds, regular savers |
---|---|
Best easy access rate | 4% |
Best cash ISA rate | 2.85% |
Best fixed-rate bond rate | 4.45% |
Best regular saver rate | 7% |
Fixed bond terms | 1 year |
Opening options | Website, mobile app, post, telephone |
FSCS protection |
Didn’t find the account type you were looking for? Check our other guides:
first direct is owned by HSBC. So, while you can’t find first direct on the high street, it does offer cash and cheque paying-in services through HSBC’s branches.
first direct is a separate division to HSBC but the two do offer similar savings account rates and deals. However, the two differ in other aspects. first direct often tops polls for the quality of its customer service.
If you’re wondering how to cash a cheque in with first direct, it’s incredibly simple. Just use the online HSBC store locator to find your local branch.
You can pay in cash or cheque. In addition, you can take cash out over the counter at an HSBC branch. However, you need to call first direct in advance to arrange this particular service.
If you have a 1st account then you do all these actions at a Post Office branch. However, paying in a cheque is slightly more complicated. Here are the details:
One thing to bear in mind is if you plan on having accounts with both HSBC and first direct. FSCS rules mean you’ll be covered for up to £85,000 if your bank goes insolvent. However, the rules apply to the overall banking group, rather than the individual bank.
So if HSBC and first direct both go bust, you would only be covered for £85,000 – not £170,000.
It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Email support | |
---|---|
Telephone support | |
In-app or live chat | |
Contact form | |
Branch support |
Whether you want to lock away your money for a fixed amount of time, or need to be able to access it whenever required, first direct offers a range of savings accounts and other options to help you manage your money.
Don’t forget to check our other reviews first, though, to see how first direct savings accounts weigh up against the competition in terms of rates, fees and perks.
Our fixed-rate ISA calculator estimates whether paying the get-out penalty on your ISA is worth it to open a new one at a better rate.
Recent estimates suggest that over 8 million people live alone in the UK, so we’ve crunched the numbers to find the cost of being single.
Monzo is getting in on the cards-for-kids action. And this one is free. Get ready to dish out the Monzos, mum-zos!
Before you switch accounts to Bank of Scotland, check to see if you can grab a juicy switch bonus.
Learn all about how to get the latest switching offer from Halifax.
Learn all about how to get the latest switching offer from Nationwide.
Find out the cost and car insurance group of a Volvo XC40, and see how much you could pay based on age, location and model.
Find out the cost and car insurance group of a Mini Cooper S and see how much you could pay based on age, location and model.
Find out the cost and car insurance group of a Smart car, and see how much you could pay based on age, location and model.
ETF trading platforms table