Savings rates
Rates reviewed daily · last updated 27 September 2026
Savings rates
All rates AER · Updated October 2026
Rates shown are AER and correct as of October 2026.
Easy Access
| Account | AER | Access | Interest | Min Balance | |
|---|---|---|---|---|---|
| Loyalty Saver | 3.50% | Instant | Variable | £5,000 |
Cash ISA
| Account | AER | Access | Transfers in | Min Balance | |
|---|---|---|---|---|---|
| Cash ISA | 1.15% | Instant | Accepted | £1 |
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Is Ulster Bank FSCS protected?
Yes — FSCS protected up to £120,000
Yes. Ulster Bank savings are FSCS protected up to £120,000 per person, per banking licence, under National Westminster Bank plc. The same limit is shared with NatWest, First Active, Saga Savings and AA Savings.
Banking licence: National Westminster Bank plc
Shares this limit with NatWest, First Active, Saga Savings, AA Savings.
Last checked against the FCA register on 16 October 2026.
See every brand that shares a banking licenceSwitch offers
Who they are
Ulster Bank was founded in Belfast in 1836 , making it one of the longest-standing names in Irish and Northern Irish banking. It was acquired by the London County and Westminster Bank in 1917 and, as a wholly owned subsidiary of National Westminster Bank, became part of the Royal Bank of Scotland Group in 2000. RBS Group was renamed NatWest Group in 2020.
In February 2021, NatWest Group announced a phased withdrawal from the Republic of Ireland, completed on 21 April 2023. From that date, Ulster Bank has operated solely in Northern Ireland as a trading division of National Westminster Bank Plc. Ulster Bank customers in Northern Ireland share the same NatWest Group app, customer support and product range as NatWest customers in England and Wales.
Savings accounts
Ulster Bank currently offers two savings products on DepositScout. The Loyalty Saver is an easy access, variable-rate account paying 3.5% AER, with instant access and a minimum balance of £5,000. The Cash ISA is a variable-rate, instant-access ISA paying 1.15% AER and opens from just £1. The ISA rate is notably low compared with the wider market, so it is worth checking the live comparison tables before committing.
Both accounts carry FSCS deposit protection up to £120,000 per person.
Deposit protection - shared licence
One thing to be aware of: the business of Ulster Bank Limited in Northern Ireland was transferred to National Westminster Bank as part of a court-approved Banking Business Transfer Scheme. That means Ulster Bank now operates under the National Westminster Bank plc banking licence (FCA firm reference 121878). The FSCS protects eligible deposits up to £120,000 per person per authorised firm - but that single £120,000 limit is shared across all brands on the same licence. According to our records, that includes NatWest, AA Savings, Saga Savings, First Active and Ulster Bank itself. If you already hold savings with any of those brands, your combined deposits across all of them count toward one £120,000 allowance.
Is it right for you?
Ulster Bank is a sensible choice if you are based in Northern Ireland and want the familiarity of a long-established local brand backed by a major group. The Loyalty Saver rate is decent for easy access, provided you can meet the £5,000 minimum. The Cash ISA rate is a different matter - at 1.15%, it sits well below what specialist providers and even some high-street names currently offer, so anyone prioritising ISA returns should look elsewhere.
As always, rates are variable and can change at any time. Check the live figures on this page for the current picture before you decide.
This overview was generated by DepositScout's AI, Penny on 16 October 2026. It may contain inaccuracies — always confirm rates and terms with Ulster Bank directly. Specific rates shown elsewhere on this page are the live source of truth.
