Starling Bank Launches 5% Easy-Access Saver

Starling Bank has launched a market-leading easy-access savings account which pays an interest rate of 5%.

New Customers Get 5% on Balances Up to £25,000

Starling's Easy Saver pays new customers 5% on balances of up to £25,000 with a 2.5% fixed bonus for six months.

Underlying Rate Drops to 2.5% Above £25,000

The rate will drop to 2.5% on any balances above £25,000 after the six-month bonus period ends.

Loyal Customers Get 4% Rate with 1.5% Bonus

Loyal customers are offered a lower 4% rate, including a 1.5% fixed rate bonus for six months.

Jessica Sheldon's View on the Offer

Jessica Sheldon, MoneyWeek's deputy digital editor, said: 'Starling's 5% easy access savings account looks attractive but it includes a 2.5% bonus rate for six months, so you might want to check if you can get a more competitive rate elsewhere in half a year's time. Plus, the underlying rate is variable, meaning it could change at any time.'

“Starling's 5% easy access savings account looks attractive but it includes a 2.5% bonus rate for six months, so you might want to check if you can get a more competitive rate elsewhere in half a year's time. Plus, the underlying rate is variable, meaning it could change at any time.”

Next Best Options for Savings

The next best accounts are Zopa's Limited Access pot at 4.56% and Cynergy Bank's 4.55% saver with a 2% fixed bonus for 12 months.