M&S Bank savings accounts

M&S Bank offers a wide range of savings accounts and ISAs. So whether you’re looking for short-term or long-term savings, M&S could have something for you.

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

Easy access savings accounts

M&S 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

M&S Bank's best cash ISA rate of 4.25% is very slightly lower than today's market-best rate of 4.72%. Compare more ISAs up to 4.72%

Fixed-rate bonds

M&S Bank's best fixed-rate bond rate of 4.05% is slightly lower than today's market-best rate of 5%. Compare more fixed-rate bonds up to 5%

Notice savings accounts

M&S 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

M&S 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

M&S 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 M&S 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 M&S 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	4.25%
Best fixed-rate bond rate	4.05%
Best notice account rate	4.3%
Best regular saver rate	7.5%
Best business savings account rate	4.55%
Fixed bond terms	1 year - 3 years
Notice account periods available	14 days - 180 days
Opening options	Website, post, telephone
FSCS protection

How do I decide which account is for me?

Firstly, you need to work out what you want out of your savings account. You need to decide if you can afford to lock your money away for at least a year or if you’d prefer to be able to access it as and when.

You’ll generally get a better interest rate if you are happy to tie up your money in a fixed rate bond. But this type of account is best for those who have a lump sum to invest as you can’t usually add to your savings after the initial deposit. If you’d prefer to be able to top up your funds, as well as withdraw them, an easy access savings account will likely be the better option.

Once you’ve worked out what type of savings account you need, you can weigh up the different savings accounts available. Useful aspects to consider are:

• Interest rates
• Fees (if there are any)
• Access to cash (if you need quick access, for instance)

What are the pros and cons of banking with M&S?

Customer service information for M&S Bank

Email support
Telephone support
In-app or live chat
Contact form
Branch support

Our verdict

M&S Bank savings accounts include everyday, tax-free and fixed-rate options, so they should cover your needs, whether you’re looking to save little and often or in big chunks. Read our savings reviews first, though, to make sure an M&S savings account is right for you and see how it weighs up against other savings providers.

Frequently asked questions

• Is M&S safe?

  Yes, M&S Bank is covered by the FSCS, so if it goes bust your savings would be covered for up to £120,000 per person, per financial institution.

• What is M&S PASS?

  M&S PASS (Personal Access Security Solution) is designed to protect you against online fraud and provides an additional layer of banking security. It generates unique security codes when you sign into internet banking and carry out certain transactions.

  There are two types – a digital PASS which is available within the banking app or a physical PASS which is a small calculator-like device.

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.