Easy Access

First Direct Savings Account Review

An easy access account from First Direct. It ranks 134th of 153 easy access accounts we track.

Variable rate

1.05%AER

Rate checked Oct 2026Got this account? Leave a review

Protection

FSCS£120,000

Min balance

£1

Max balance

No limit

Access

Instant

Interest paid

Monthly

First Direct is also paying £210 to switch your current account. Offer ends 2 December 2026.

See the switch offer

How It Stacks Up

Ranks 134th of 153

Easy access accounts we track

Well below average
This account 1.05%
UK CPI (Aug 2026)
3.10%
Pays 2.05% less
Average easy access
2.83%
Pays 1.78% less
Best easy access
5.00%
Pays 3.95% less

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

A better-paying alternative

Tembo bank logo

Tembo

HomeSaver

4.55%

AER

  • Pays 3.50% more than this First Direct account
  • Instant access, open with £10
Compare Easy Access Accounts

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A Good Fit For

  • Pro: Savers who want instant access
  • Pro: Savers who want a monthly income

Worth Weighing Up

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

Good to Know

1st Account required

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See all First Direct accounts

Estimated returns with First Direct's Easy Access

What you could earn with First Direct's Savings Account.

Estimated interest

£1,000 saved

£10.50

At 1.05% AER

£5,000 saved

£52.50

At 1.05% AER

£10,000 saved

£105

At 1.05% AER

£50,000 saved

£525

At 1.05% 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 First Direct Savings Account

Jan WatermannCo-Founder, DepositScout

First Direct's Savings Account pays 1.05%, which sits well below the easy access market average and is 3.95% behind the category leader at 5.00%. With CPI at 3.1% as of Aug 2026, you are also losing ground to inflation in real terms by 2.05%. The account has genuine flexibility with a £1 minimum and unlimited fee-free withdrawals, so it suits someone who wants a parking spot attached to their First Direct current account, but anyone focused on returns should look elsewhere, with Kent Reliance's Branch Easy Access Saver at 3.20% as one alternative worth considering.

2 alternatives to First Direct's Savings Account

Same type of account, closest on rate.

Common questions about the Savings Account

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%
View Best Rates
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