Easy Access

M&S Bank M&S Everyday Savings Account Review

An easy access account from M&S Bank. It ranks 164th of 184 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

£0

Max balance

No limit

Access

Instant

Interest paid

Monthly

How It Stacks Up

Ranks 164th of 184

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 M&S 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
  • Pro: Savers who want a monthly income

Worth Weighing Up

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

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Estimated returns with M&S Bank's Easy Access

What you could earn with M&S Bank's M&S Everyday 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 M&S Bank M&S Everyday Savings Account

Jan WatermannCo-Founder, DepositScout

The M&S Everyday Savings Account pays 1.05%, which is below the market average for easy access accounts and 3.95% behind the category leader at 5.00%. At current CPI of 3.1%, the rate is also 2.05% below inflation, meaning your money is losing purchasing power in real terms. There is no minimum balance and withdrawals are instant, so it suits someone who just wants a simple parking spot for cash, but I would look at Monzo Instant Access Savings at 2.75% or NS&I Investment Account at 2.05% before settling here.

2 alternatives to M&S Bank's M&S Everyday Savings Account

Same type of account, closest on rate.

Common questions about the M&S Everyday Savings Account

D

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Example Easy Access Saver Rate Down
4.20% AER
4.75%
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