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

Who they are

Ulster Bank opened for business in 1836 as Ulster Banking Co, initially serving Belfast merchants. Established in 1836, it was acquired by the London County and Westminster Bank in 1917, and as a wholly owned subsidiary of National Westminster Bank it became part of the Royal Bank of Scotland Group in 2000. Today, Ulster Bank is a trading name of National Westminster Bank Plc. It operates in Northern Ireland with its headquarters in Belfast, serving personal and business customers with a full range of banking services.

One thing worth knowing before you save here: Ulster Bank shares a banking licence with National Westminster Bank plc (NatWest), First Active, Mettle, NatWest Premier and NatWest Boxed. That matters for FSCS purposes - your deposits are protected under NatWest's banking licence, not a separate Ulster Bank one. If you also hold savings with NatWest or any other brand sharing that licence, your total cover across all of them combined is £120,000.

Savings accounts

Ulster Bank currently offers three savings accounts. The Limited Edition Saver is the headline option, paying 4.3% variable on balances of £5,000 or more - though that rate includes a 2.75% fixed 12-month bonus, so you will want to keep an eye on when that bonus period ends. The Loyalty Saver pays 3.5% variable, also with a £5,000 minimum. You must be 16+, a UK resident and hold an Ulster Bank current account to apply for the Loyalty Saver - and the same applies to the Limited Edition Saver.

The Cash ISA is the most accessible of the three, opening from just £1 and paying 2.45% variable. It wraps your interest in a tax-free shelter, which is worth factoring in if you are a higher-rate taxpayer or already using your personal savings allowance elsewhere. All three accounts carry FSCS protection up to £120,000.

Is it right for you?

Ulster Bank savings accounts are only practically available if you already bank with them in Northern Ireland, or are willing to open a current account first. If neither applies, you are better served looking elsewhere. If you are already an Ulster Bank current account customer, the Limited Edition Saver's headline rate is competitive - but treat it as a 12-month opportunity rather than a long-term home for your cash, and plan for what you will do when the bonus drops away.

Rates on all accounts are variable and subject to change, so use the live figures shown on this page as your starting point before making any decisions.