New maximum balances for savings accounts

Good news – from 4 August, we’re increasing the maximum amount you can save in these types of accounts.

Account name

Current maximum balance

New maximum balance

 

Rainy Day Saver

Current maximum balance

£250,000

New maximum balance

£1,000,000

Closed

Rainy Day ISA

Current maximum balance

£20,000 (current tax year allowance) plus transfers in from previous years up to a maximum balance of £250,000

New maximum balance

£20,000 (current tax year allowance) plus unlimited transfers in from previous years (as per other ISA products)

Closed


Smart Saver

Current maximum balance

£250,000

New maximum balance

£1,000,000 (single accounts) £2,000,000 (joint accounts)

Closed


Defined Access Saver

Current maximum balance

£250,000

New maximum balance

£1,000,000 (single accounts) £2,000,000 (joint accounts)

Closed


Easy Access Saver

Current maximum balance

£20,000

New maximum balance

£1,000,000 (single accounts) £2,000,000 (joint accounts)

Closed