What is Metro 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 Metro Bank offers, plus the highest interest rate currently available.
Savings account types include
Easy access, cash ISAs, fixed-rate bonds, business
Best easy access rate
0.9%
Best cash ISA rate
3.45%
Best fixed-rate bond rate
3.45%
Best business savings account rate
3%
Fixed bond terms
3 months - 3 years
Opening options
Branch, website, post, telephone
FSCS protection
Other popular accounts
Didn’t find the account type you were looking for? Check our other guides:
You can open a Metro Bank savings account online by filling in a form. The process should take around 10 minutes and you’ll need:
An email address
UK mobile number
Photo ID
A device with a camera to take a selfie
You’ll need to provide some details about yourself and your finances and you’ll need to set up online banking.
Alternatively, you can apply for an account in branch.
Documents needed to open an account
To open an account you’ll need to provide a few documents. If you’re a UK, EEA or Swiss national, these include:
Proof of identity. A valid passport, EU national ID card or UK driving licence.
Proof of address (1 or 2 types depending on circumstances). For example, a UK photocard driving licence, council tax bill, tenancy agreement, bank statement, HMRC document or utility bill.
If you’re not a UK, EEA or Swiss national:
You can open an account in branch with a valid passport containing your current visa or biometric residence permit.
You’ll also need 1 or 2 proofs of address.
If you’re aged 11–15 you’ll need to go into a store with your parent or guardian. Parents or guardians must provide the documents above, plus one of the following for the child opening the account:
Valid passport
Birth certificate
NHS medical card
Child Tax Credit or Child Benefit documentation
Is Metro Bank safe?
Yes, Metro Bank 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 £85,000 by the Financial Services Compensation Scheme (FSCS). This rises to £170,000 for joint accounts.
Pros and cons
Pros
Multiple ways to bank. Manage your account online, over the phone, in branch or via the app.
Flexibility. Metro Bank offers a range of accounts, whether you’re looking for easy access or long-term gains.
Open to all. You can still open an account if you’re not a UK, EEA or Swiss national.
FSCS protection. Money in accounts will be protected up to £85,000 per person.
Cons
Better rates elsewhere? Metro Bank doesn’t have the most competitive interest rates so shop around to see if you can get higher rates elsewhere.
Customer service information for Metro Bank
Email support
Telephone support
In-app or live chat
Contact form
Branch support
Our verdict: Is a savings account from Metro Bank worth it?
Metro Bank offers a variety of savings accounts to suit different purposes. This means there’s likely to be at least one account for you, whether you want to be able to access your money when required or you’re happy to lock away some funds for a set time. Account holders also benefit from being able to open accounts online or in branch, and being able to manage their money in multiple ways. Plus, these accounts are not restricted to UK, EEA or Swiss nationals only.
That said, it’s worth checking out our other reviews first to see how Metro Bank savings accounts compare to others on the market.
Frequently asked questions
You can find your nearest Metro Bank branch by using the store locator on the bank's website.
Yes, many of Metro Bank's savings accounts can be opened on a joint basis. Pop into your local store to find out.
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Rachel Wait is a freelance journalist and has been writing about personal finance for more than a decade, covering everything from insurance to mortgages. She has written for a range of personal finance websites and national newspapers, including The Observer, The Mail on Sunday, The Sun and the Evening Standard. Rachel is a keen baker in her spare time. See full bio
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