Saffron Building Society

Saffron Building Society savings review

Saffron Building Society offers a broad range of savings accounts with interest rates up to 5.75%.

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Saffron Building Society offers a number of different savings accounts which we review below.

Easy access savings accounts

Table: sorted by interest rate
Saffron Building Society's best easy access rate of 4.8% is significantly lower than today's market-best rate of 7.49%.
1 - 5 of 7
Name Product Account type Withdrawals Min. opening balance Interest rate Deposit protection Open via Incentive Apply link
Saffron BS – e-saver (Issue 20)
Variable
Instant access
£10
4.8% AER variable
FSCS logo
protected
Open via: website
Go to site
View details
Saffron BS – e-saver (Issue 20)
Variable
Instant access
£10
4.8% AER variable
FSCS logo
protected
Open via: website
Go to site
View details
Saffron BS – Enviro Saver (Issue 2)
Variable
Instant access
£10
4.75% AER variable
FSCS logo
protected
Open via: website
Go to site
View details
Saffron BS – Enviro Saver (Issue 2)
Variable
Instant access
£10
4.75% AER variable
FSCS logo
protected
Open via: website
Go to site
View details
Saffron BS – Savvy Saver
Variable
Instant access
£5,000
3.56% AER variable
FSCS logo
protected
Open via: branch, post
Go to site
View details
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Cash ISAs

Table: sorted by interest rate
Saffron Building Society's best cash ISA rate of 4.3% is slightly lower than today's market-best rate of 5.1%.
1 - 3 of 3
Name Product Interest rate Minimum investment Interest paid Withdrawals Deposit protection Open via Incentive Table product description Apply link
Saffron BS – One Year Fixed Rate Cash ISA
4.3% AER fixed for 1 year
£500
On maturity
Withdrawals not permitted
FSCS logo
protected
Open via: branch, website, post
Go to site
View details
Saffron BS – Two Year Fixed Rate Cash ISA
4.1% AER fixed for 2 years
£500
Anniversary of account opening
Withdrawals not permitted
FSCS logo
protected
Open via: branch, website, post
Go to site
View details
Saffron BS – Easy Access Cash ISA (Issue 2)
3.5% AER variable
£1
Yearly
Instant access
FSCS logo
protected
Open via: branch, website, post
Go to site
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Fixed-rate bonds

Table: sorted by interest rate
Saffron Building Society's best fixed-rate bond rate of 4.4% is slightly lower than today's market-best rate of 5.22%.
1 - 4 of 4
Name Product Interest rate Invest Interest paid Withdrawals Open via Deposit protection Open via Incentive Table product description Apply link
Saffron BS – One Year Fixed Rate Bond
4.4% AER fixed for 1 year
£500 - £500,000
On maturity
Withdrawals not permitted
Branch, website, post
FSCS logo
protected
Open via: branch, website, post
Go to site
View details
Saffron BS – One Year Fixed Rate Monthly Income Bond
4.4% AER fixed for 1 year
£500 - £2,000,000
Monthly
Withdrawals not permitted
Branch, website, post
FSCS logo
protected
Open via: branch, website, post
Go to site
View details
Saffron BS – Two Year Fixed Rate Bond
4.2% AER fixed for 2 years
£500 - £500,000
Anniversary of account opening
Withdrawals not permitted
Branch, website, post
FSCS logo
protected
Open via: branch, website, post
Go to site
View details
Saffron BS – Two Year Fixed Rate Monthly Income Bond
4.2% AER fixed for 2 years
£500 - £2,000,000
Monthly
Withdrawals not permitted
Branch, website, post
FSCS logo
protected
Open via: branch, website, post
Go to site
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Notice savings accounts

Table: sorted by interest rate
Saffron Building Society's best notice savings account rate of 4.6% is slightly lower than today's market-best rate of 5.32%.
1 - 2 of 2
Name Product Account type Withdrawals Open with Deposit protection Interest rate Open via Incentive Table product description Apply link
Saffron BS – 120 Day Notice Saver (Issue 1)
Variable
120 days notice needed
£5,000 - 500,000
FSCS logo
protected
4.6% AER variable
Open via: branch, website, post
Go to site
View details
Saffron BS – 30 Day Notice Saver (Issue 4)
Variable
30 days notice needed
£5,000 - 500,000
FSCS logo
protected
4.1% AER variable
Open via: branch, website, post
Go to site
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Regular savings accounts

Table: sorted by interest rate
Saffron Building Society's best regular savings account rate of 5.75% is lower than today's market-best rate of 7.49%.
Name Product AER Save Withdrawal notice Interest paid Deposit protection Open via Incentive Apply link
Saffron BS – Small Saver (Issue 7)
5.75% variable (on first £600)
£1 to £50 per month
1 year bond
On maturity
FSCS logo
protected
Open via: branch, website, post
Go to site
View details
Saffron BS – Member Regular Saver (Issue 12)
5.25% variable (on first £6,000)
£50 to £500 per month
1 year bond
On maturity
FSCS logo
protected
Open via: branch, website, post
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Business savings accounts

Table: sorted by interest rate
Saffron Building Society's best business savings account rate of 4.35% is slightly lower than today's market-best rate of 5.25%.
Name Product Interest rate and type Interest paid Invest Term Open via Incentive Table product description Apply link
Saffron BS – Business Bonus Saver - Limited Edition
3% AER variable
Yearly
£5,000 - £5,000,000
Instant access
Open via: branch, website, post
Go to site
View details
Saffron BS – Business Online Saver
4.35% AER variable
Monthly
£5,000 - £5,000,000
Instant access
Open via: website
Go to site
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What is Saffron Building Society'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 Saffron Building Society 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 4.8%
Best cash ISA rate 4.3%
Best fixed-rate bond rate 4.4%
Best notice account rate 4.6%
Best regular saver rate 5.75%
Best business savings account rate 4.35%
Fixed bond terms 1 year - 2 years
Notice account periods available 30 days - 120 days
Opening options Branch, website, post
FSCS protection

How to open an account

Depending on the account you choose, you can open it in branch, by post or online. Most accounts require you to be at least 16 years old (unless you’re after a children’s account) and you will need to be a UK resident.

Once you have opened an account, you have a 14-day cooling-off period in which to change your mind. If you decide the account is not for you, you can have your money back or switch to another account without losing interest.

Documents needed to open an account

When opening an account with Saffron Building Society, your identity will be confirmed using electronic searches but you may also be asked to provide proof of ID such as your passport or driving licence.

Is Saffron Building Society safe?

Yes, Saffron Building Society is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority and PRA. This means all eligible deposits are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS). This increases to £170,000 for joint accounts.

Pros and cons

Pros

  • Flexibility. Wide range of accounts available, whether you want to lock your money away or easily access your funds.
  • Multiple ways to bank. Manage your account online, by post or in branch.
  • FSCS protection. Money in accounts will be protected up to £85,000 per person.

Cons

  • Better rates elsewhere? Saffron’s savings rates vary quite dramatically and you might find better rates elsewhere.
  • Limited branch access. You’ll need to live in Essex, Hertfordshire or Suffolk to have easy branch access to your account.

Customer service information for Saffron Building Society

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

Our verdict: Is a savings account from Saffron Building Society worth it?

Saffron Building Society offers a huge range of savings accounts, so whether you’re looking for an easy access account, a fixed rate bond, a cash ISA, a children’s account or even a savings account for your business, there’s something for everyone. Many accounts can be opened online but if you want to open or manage your account at a branch, keep in mind that you’ll only find them in Essex, Hertfordshire and Suffolk.

Before opening an account, it’s also best to check what else is on the market from other providers to be sure you’re getting a good deal.

Frequently asked questions

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 has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.

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