Paragon savings accounts review
Paragon Bank offers a broad range of savings accounts with interest rates up to 4.28%. Not too shabby.

Paragon is an online-only bank. It offers UK customers a range of products, including savings accounts, mortgages and loans.
Paragon Bank's top savings rate of 4.28% is available on one of its cash ISA accounts.
We currently don't have that product, but here are others to consider:
How we picked theseWe currently don't have that product, but here are others to consider:
How we picked theseWe currently don't have that product, but here are others to consider:
How we picked theseWe currently don't have that product, but here are others to consider:
How we picked theseThe 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 Paragon Bank offers, plus the highest interest rate currently available.
Savings account types include | Easy access, cash ISAs, fixed-rate bonds, notice accounts |
---|---|
Best easy access rate | 3.75% |
Best cash ISA rate | 4.28% |
Best fixed-rate bond rate | 4.15% |
Best notice account rate | 4.15% |
Fixed bond terms | 1 year - 5 years |
Notice account periods available | 40 days - 120 days |
Opening options | Website, mobile app, post |
FSCS protection |
Before we get into the nitty gritty of Paragon’s savings options, you might want to know a little bit more about the bank.
Based in Solihull, Paragon is relatively young as banks go. While the Paragon group was formed in 1985, it only launched as a full bank in 2014. Like many new kids on the banking block, Paragon is online-only. So you have to apply for an account through its website.
If you’re interested in the numbers, Paragon’s savings deposits reached £3.6 billion in 2017. Paragon is a FTSE 250 company with over £12 billion in assets.
Paragon offers online banking through its website, but does not have a dedicated mobile app.
Here are some of the basic features of Paragon’s online banking service:
Email support | |
---|---|
Telephone support | |
In-app or live chat | |
Contact form | |
Branch support |
Paragon is authorised by the Prudential Regulation Authority (PRA) and regulated by the PRA as well as the Financial Conduct Authority. Money held with Paragon is protected up to £85,000 per person under the Financial Services Compensation Scheme (FSCS).
Although it’s a relatively new bank, Paragon has received plaudits for its competitive savings products in recent years. If you’re happy to manage your savings accounts online and are looking for cash ISAs that offer decent returns, Paragon may be worth a look. The bank has a range of savings accounts that are only available to existing customers, so if you do decide to open an account, you may find other products that are suitable for your saving needs.
All user-submitted reviews must meet our review guidelines. These set out our standards and expectations, including that the review is from by a genuine user of the relevant product or service and that it is honest, authentic and respectful. We explicitly prohibit fake or otherwise misleading reviews and we check all submissions, but we make no guarantee as to the authenticity of any published review or reviewer. Some reviews may be submitted (regardless of sentiment) in exchange for entry into any competition(s) for which we are the promoter.
Via customer survey commissioned by Finder
Because Paragon offer a competitive interest rate for their savings products, and a relatively straightforward application process through their website.
Via customer survey commissioned by Finder
Because it's excellent and easy to use
Via customer survey commissioned by Finder
Good interest rates. Never a problem and they are proactive with contacting you with interesting offers.
Via customer survey commissioned by Finder
Been with them for 4 years, easy to deal with and hassle free
Via customer survey commissioned by Finder
Really easy to use app and good interest
Via customer survey commissioned by Finder
Made really clear what I was signing up for
Via customer survey commissioned by Finder
Super efficient, great security, easy to deal with and super interest rates, plenty of choice without being overwhelming
Via customer survey commissioned by Finder
Good rate of interest and easy to use website
Via customer survey commissioned by Finder
I have had a positive experience with the customer service representatives. They are often described as helpful, friendly, and knowledgeable.
Via customer survey commissioned by Finder
Paragon always has a wide range of savings accounts and fixed rate bonds with competitive interest rates. It is simple to administer online and open new accounts or reinvest.
Revolut now offers savings accounts to its customers, known as Savings Vaults. You can get interest of paid daily, but the rate depends on which level of account you have. Find out whether Savings Vaults are a good option for your spare cash.
Get into the savings habit with the NatWest Digital Regular Saver account.
Discover more about the Chase Saver account, including how the boosted rate works and whether it’s worth it.
Find out how the Active Savings product from Hargreaves Lansdown works and how you can use it to manage several savings accounts in one place.
By bringing together competitive interest rates and smart app features, Monzo makes a great choice for small savers. Here’s how Monzo savings accounts work.
Whatever you’re saving for, find the right Halifax savings account for you. Our detailed guide walks you through which of Halifax’s savings accounts is for you.
Goldman Sachs has launched its savings bank Marcus in the UK. Our review covers the features of its easy-access savings account vs the competition.
Nationwide’s savings account options explained. Whether you’re happy to tie up your money or need instant access, we’ve covered the options.
Find out more about the breakdown specialists, and see if they can provide you with the right savings account.
The fast pace of the UK banking market forces so-called ‘big banks’ like NatWest to stay ahead of the curve. By constantly refining the user experience with improvements to online banking and mobile apps, NatWest remains one of the UK’s most popular banks.