Personal Savings Accounts
Save and grow your money with purpose.
At Reliance Bank, our personal savings accounts are designed to help you earn interest, grow your savings and make a positive social impact.
The money you deposit with us is used to provide funding to organisations that provide health and social care, affordable housing projects and treatment centers that help people affected by gambling-related harm. We are a socially responsible bank of choice for people who want their money to make a difference.
Choose from Fixed-Term Savings Account or Notice Savings Accounts if you can put the money aside for a set period of time. Or Instant Access if you need to access your money.
Start saving with us today and join a banking community that prioritises giving money meaning.
Ethical Banking since 1890
Helping good people do great things with money
Power to change lives for the better
Social Impact
Explore our Personal Savings Accounts
*AER stands for Annual Equivalent Rate. It illustrates what your interest rate would be if interest was paid and compounded each year and allows you to easily compare different savings accounts. As every advertisement for a savings product, which quotes an interest rate, will contain an AER you will be able to compare more easily what return you can expect from your savings over time.
Please Note: From time to time, we also promote our savings products on a deposit raising platform called Flagstone Savings Platform.
We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if we as a Bank fail to meet our financial obligations. In general, all retail depositors and businesses are covered by Deposit Guarantee Schemes. Exceptions for certain deposits are stated on the website for the Financial Services Compensation Scheme.
How to open a Personal Savings Account?
Compare Our Savings Accounts
Complete Online Savings Application
Verify Your Identity
Read about our work in the latest Social Impact Report.
Reliance Bank is a socially responsible bank of choice for people who want their money to make a difference.
We prioritise our business lending to organisations that deliver positive social impact in the UK. We specifically focus on the impact themes of Charity, Community, Faith, Healthcare, Social Housing, and Education.
What our customers say about us?
Colwall Community Church
The Knoll Nursing Home
Bromley Christian Centre
Get in touch with us
If you need any help, contact our team on 020 7398 5400 or email at customer.experience@reliancebanktld.com.
Frequently asked questions
A personal savings account allows you to deposit money with a bank for either an unlimited or fixed term duration, earning interest on your money. At Reliance bank, our personal savings accounts – including instant access, fixed-term, and notice accounts- are designed to keep your money safe while supporting positive causes.
To open a savings account, you must complete the online application form and follow the instructions. Once we receive your application, our team will review them and contact you with the next steps. Please do not send us any funds until our team have contacted you to explain how funds can be deposited safely and securely.
If you have any questions about the application process, please contact our Customer Experience Team on 020 7398 5400 or by email at Customer.experience@reliancebankltd.com.
We refer to the interest rate as an AER, which stands for Annual Equivalent Rate. It illustrates what your interest rate would be if interest was paid and compounded each year and allows you to easily compare different savings accounts. As every advertisement for a savings product, which quotes an interest rate, will contain an AER you will be able to compare more easily what return you can expect from your savings over time.
At Reliance bank, interest calculation varies by account type:
Fixed term savings accounts: Interest will be paid at the end of the Fixed Term for the 6 Month and 1 year Accounts. Interest will be paid annually for the 2 Year Account.
Instant access savings account: Interest will be applied to the Account quarterly, on the set quarter dates.
Notice savings accounts: Interest is accrued daily and will be applied to the Account on the last working day of each quarter, unless you specify a secondary account held with Reliance Bank Ltd to receive the credit interest.
We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS covers up to £85,000 eligible deposits person, per bank. This protection applies if we fail to meet our financial obligations. In general, all retail depositors and businesses are covered by Deposit Guarantee Schemes. Exceptions for certain deposits are stated on the website for the Financial Services Compensation Scheme.
For further information about the compensation provided by the FSCS (including the amounts covered and eligibility to claim):
a) You can refer to the FSCS website Bank & savings protection checker | Check your money is protected | FSCS
b) You can call the FSCS on 0800 678 1100; international customers can call on 020 7741 4100.
Please note only compensation related queries should be directed to the FSCS.
Our personal savings accounts are available to UK residents aged 18 and over.
How we use your Personal Information?
Reliance Bank uses your personal information to confirm your identity and assess your application when you apply for an account with us. We will only collect, process, and store information about your in accordance with our Privacy Notice. For more details, please read our Privacy Notice.
Are you an existing Personal Current Account holder?
Personal Current Account is no longer available to new customers. If you are an existing customer, please click here for more information.
We are proud to be the bank of The Salvation Army International. Find out more about our shared history.
We are proud to be the bank of The Salvation Army International. Find out more about our shared history.