FirstSave savings rates — compare every account, plus switch offers and guides

Who they are

FirstSave is an online savings brand that has been operating since 2007. The accounts are provided by FirstBank UK Limited, a UK bank that began trading in 2002 and is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. FirstSave is provided by FirstBank UK, which is a wholly owned subsidiary of First Bank of Nigeria, one of Nigeria's largest banks with headquarters in Lagos. The brand is focused entirely on savings - there are no current accounts or mortgages to speak of, which keeps things straightforward for savers.

FSCS protection and licence sharing

FSCS protection is in place, but there is an important detail to be aware of. Your eligible deposits with FirstSave are protected up to a total of £120,000 by the FSCS - but this limit applies to the total of any deposits you hold across both FirstBank UK Limited and FirstSave combined. Any total deposits above £120,000 between these two brands are not covered. Customers with joint accounts are eligible to claim up to £240,000. If you already hold money with FirstBank UK, factor that into your total before depositing more.

Savings accounts

FirstSave has historically offered a range of online savings accounts, including easy access, notice, and fixed rate bonds. FirstSave is an online-based savings company, and customers manage their accounts themselves. All applications are made online. At the time of writing, our data feed shows no currently listed products from FirstSave - this can happen when a provider temporarily withdraws its range from the market.

Is it right for you?

FirstSave is a legitimate, FSCS-protected bank with a long track record in the UK savings market. It tends to appeal to savers who are comfortable managing everything online and want a no-frills fixed-term home for their money. The shared banking licence with FirstBank UK is worth keeping in mind if you are depositing a larger sum. Customer service reviews have been mixed over the years, with some savers praising the simplicity of the platform and others noting difficulties reaching support by phone.

Because FirstSave's product range can come and go, the live rates shown on this page are always your best starting point - check back regularly and compare them against the wider market before you decide.