Easy Access

The Co-operative Bank Smart Saver Review

An easy access account from The Co-operative Bank. It ranks 127th of 152 easy access accounts we track.

Variable rate

1.40%AER

Rate checked Oct 2026Got this account? Leave a review

Protection

FSCS£120,000

Min balance

£1

Max balance

£1,000,000

Access

Instant

Interest paid

Annually

How It Stacks Up

Ranks 127th of 152

Easy access accounts we track

Well below average
This account 1.40%
UK CPI (Aug 2026)
3.10%
Pays 1.70% less
Average easy access
2.83%
Pays 1.43% less
Best easy access
5.00%
Pays 3.60% less

Inflation: ONS. Averages and best rates: accounts on DepositScout.

A better-paying alternative

Tembo bank logo

Tembo

HomeSaver

4.55%

AER

  • Pays 3.15% more than this The Co-operative Bank account
  • Instant access, open with £10
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A Good Fit For

  • Pro: New and existing savers
  • Pro: Savers who want instant access

Worth Weighing Up

  • Con: The rate is variable, so it can go down

Good to Know

Unlimited withdrawals

Please verify all details with the provider – see our Disclaimer

See all The Co-operative Bank accounts

Estimated returns with The Co-operative Bank's Easy Access

What you could earn with The Co-operative Bank's Smart Saver.

Estimated interest

£1,000 saved

£14.00

At 1.4% AER

£5,000 saved

£70.00

At 1.4% AER

£10,000 saved

£140

At 1.4% AER

£1,000,000 saved

£14,000

At 1.4% AER

Estimated over one year, if the rate stays the same and interest is left in. Amounts outside the account's minimum or maximum aren't shown.

Work out the tax on your interestSee how much of this interest could be taxed.

Our Expert Opinion on The Co-operative Bank Smart Saver

Jan WatermannCo-Founder, DepositScout

The Co-operative Bank Smart Saver pays 1.40%, which is below the market average for easy access accounts and 3.60% behind the current category leader at 5.00%. At that rate you are also losing ground to inflation in real terms, sitting 1.70% below CPI of 3.1% as of Aug 2026. The account does open from just £1 and the bank gives two months' notice before any rate decrease, which is a reasonable consumer protection, but savers who want instant access can do considerably better elsewhere, with Tandem Bank's Instant Access Saver currently at 3.40%.

Compare Easy Access Accounts

2 alternatives to The Co-operative Bank's Smart Saver

Same type of account, closest on rate.

Common questions about the Smart Saver

D

DepositScout Alerts

2 minutes ago

Easy Access rate just dropped

A top provider just cut their rate. Here's what you need to know about the latest market shift.

Nationwide FlexSaver Rate Down
4.20% AER
4.75%
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