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

Who they are

Vida Bank has been operating since 2016, originally focused on specialist residential and buy-to-let mortgage solutions through its Vida Homeloans brand. The savings side of the business - Vida Savings - is a more recent addition, providing a range of savings accounts through the Vida Savings brand. It is a smaller, specialist bank rather than a high-street name, but it holds its own banking licence and is fully regulated.

On FSCS protection, the picture is straightforward. Vida does not share its FSCS protection with any other institution, so savers are fully protected up to the scheme's limit. The DepositScout data confirms that limit is £120,000 per person - higher than the standard £85,000 you see at most banks, reflecting Vida's own licence position.

Savings accounts

Vida Savings offers a decent spread of account types, which is useful whether you want flexibility or a fixed return.

On the fixed side, the 1 Year Fixed Rate Bond pays 4.30% AER and the 2 Year Fixed Rate Bond pays 4.31% AER - both requiring a minimum of £1,000 to open and with no access until maturity, so make sure you can genuinely set the money aside.

The Cash ISA range is where Vida stands out a little more. The 1 Year Fixed Rate ISA pays 4.70% AER and the 2 Year Fixed Rate ISA pays 4.77% AER, with the two-year option having no minimum balance requirement at all. There is also an Easy Access ISA at 3.86% AER for those who want flexibility within a tax-free wrapper, with a £500 minimum.

For savers who want flexibility without the ISA wrapper, the Easy Access account pays 3.80% AER. Worth considering too is the Double Access Saver at 4.16% AER - a variable rate account that allows limited withdrawals and could suit those who want a higher return than a standard easy access account but are unlikely to dip in often. The 95 Day Notice Account sits at 3.95% AER for those comfortable giving advance notice before withdrawing.

All accounts carry the £120,000 FSCS protection mentioned above.

Is it right for you?

Vida Savings suits savers who are comfortable with an online-only, specialist bank rather than a familiar high-street brand. There are no switch offers or bonuses to factor in - the appeal is simply competitive rates across a broad account range. The Cash ISA rates in particular are worth looking at closely if you have ISA allowance to use.

The fixed-rate accounts have no early access, so only commit money you genuinely will not need. And as always, rates on the variable products - including the Easy Access and Double Access Saver - can change over time.

Check the live rates shown on this page before you apply, as figures move and what you see here reflects the current position.