Hodge Bank savings accounts review

Hodge Bank was founded in 1965 and is headquartered in Cardiff. The bank offers both mortgage and savings products, with a range of options to choose from.

Hodge Bank's top savings rate of 8% is available on one of its easy access accounts.

Easy access savings accounts

Hodge Bank's top easy access rate of 8% is the best currently on the market. Compare more instant and easy access accounts up to 8%

Cash ISAs

Hodge Bank's best cash ISA rate of 4.71% is very slightly lower than today's market-best rate of 4.75%. Compare more ISAs up to 4.75%

Fixed-rate bonds

Hodge Bank's best fixed-rate bond rate of 4.76% is very slightly lower than today's market-best rate of 5%. Compare more fixed-rate bonds up to 5%

Notice savings accounts

Hodge Bank's best notice savings account rate of 4.3% is very slightly lower than today's market-best rate of 4.38%. Compare more notice savings accounts up to 4.38%

Regular savings accounts

Hodge Bank's top regular savings account rate of 7.5% is the best currently on the market. Compare more regular savings accounts up to 7.5%

Business savings accounts

Hodge Bank's best business savings account rate of 4.55% is very slightly lower than today's market-best rate of 4.76%. Compare more business savings accounts up to 4.76%

What is Hodge Bank's best savings account with the highest interest rate?

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 Hodge Bank offers, plus the highest interest rate currently available.

Savings account types include	Easy access, cash ISAs, fixed-rate bonds, notice accounts, regular savers, business
Best easy access rate	8%
Best cash ISA rate	4.71%
Best fixed-rate bond rate	4.76%
Best notice account rate	4.3%
Best regular saver rate	7.5%
Best business savings account rate	4.55%
Fixed bond terms	1 year - 5 years
Notice account periods available	14 days - 180 days
Opening options	Website
FSCS protection

How to open an account

To open a savings account with Hodge Bank, you will need to be at least 18 years old and a UK resident. All accounts must be opened and managed online.

It takes around 10 minutes to open an account. You will need to fill in an application form, providing personal details such as your name, address and National Insurance number. If you are opening a cash ISA and wish to transfer funds in, you will also need to sign a transfer authority form.

Documents needed to open an account

You shouldn’t need to provide any documents when opening an account as Hodge Bank says it carries out electronic searches to verify your identity. If you are asked for documents, you can send copies by email.

Is Hodge Bank safe?

Yes, Hodge Bank is a trading name of Julian Hodge Bank Limited. It is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority and PRA. All eligible deposits are protected up to a total of £120,000 by the Financial Services Compensation Scheme (FSCS).

Pros and cons

Our verdict: Is a savings account from Hodge Bank worth it?

If you’re looking for a new savings account and you’re happy to bank online, the accounts on offer from Hodge Bank are certainly worth a look. The interest rates for its easy access account, fixed rate bonds and cash ISAs are all competitive, but it always pays to do some research and check what else is out there first.

Frequently asked questions

• Can I open a joint savings account with Hodge Bank?

  Yes, you can open a joint account – you will need to download the joint account application form to do so.

• What do I do if my account is maturing?

  If your account is due to mature, you'll be told 14 days beforehand. You can then decide what you'd like to do by logging into your account online.

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 is provided by Defaqto. In other cases, Finder has sourced data directly from providers.