For a flexible savings option choose our Instant Access Savings account. Save what you want, when you want and get instant access to your cash if you need to.
From 10 November 2023, open a new account and deposit at least £500 within 28 days to earn a Limited Edition Rate (variable). If you don’t do this, you’ll receive our Standard Variable Rate of 1.65% AER*/1.64% Gross (variable). Got a question? See our FAQs.
Get all the ins and outs to read at a time that suits you by downloading our
Instant Access Savings details (PDF)
Usually, the quickest way to apply for an Instant Access Savings account is in our App:
Apply online Resume your application
*AER stands for annual equivalent rate. It shows how much the interest rate would be if the interest was worked out once a year. You can use it to compare different financial products.
Gross rate is an annual contractual rate which is calculated daily and paid out at a frequency applicable to the product.
Limited Edition Rate 5.22% AER*/5.10% Gross (variable)
Open an account and deposit at least £500 within 28 days to earn a Limited Edition Rate (variable) for 12 months.
Need to dip into your savings? No problem. You’ll have instant access to your money – in store, online and by phone.
Grow your savings your way. Put away a lump sum or save regularly – it’s up to you.
See how much you could save with an Instant Access Savings account when you try our Savings Calculator tool.
We’re upfront with our customers about everything. We’ve created this handy summary of our Instant Access Savings account features so you can see the important information from the get-go.
Interest rate | Minimum balance | Interest paid |
---|---|---|
Limited Edition rate of 5.22% AER*/ 5.10% Gross (variable) |
Minimum balance of £500 within 28 days |
Monthly |
Standard Variable Rate of 1.65% AER* / 1.64% Gross (variable) |
£1 |
Monthly |
Gross rate is an annual contractual rate which is calculated daily and paid out at a frequency applicable to the product.
Deposit a minimum of £500 within 28 calendar days of account opening to achieve the Limited Edition rate.
Limited Edition rates are promotional rates which are subject to availability and can be withdrawn from sale at any time. The interest on these rates is higher than our Standard Variable rate.
During the 12-month period the rate can vary meaning it can go up or down, but it will not go below the Standard Variable rate that is available at that time.
Your account will earn Standard Variable rate interest until you meet the Limited Edition rate criteria.
For more information about Limited Edition rates please see the Important Information Sheet and the Frequently Asked Questions below.
To open an account you need to be:
Important: for Power of Attorney applications, please speak to a colleague for guidance on what we will require.
What you need to open your account
Since 6 April 2016, you can earn up to £1,000 a year on your savings tax-free if you pay the basic rate of tax and up to £500 a year if you pay the higher rate of tax. This is called your Personal Savings Allowance. Interest on your savings is now paid without tax being taken off. The interest from ISAs doesn’t count towards your Personal Savings Allowance.
If you ever need us to issue you a banker's cheque, we will charge a small fee. Each cheque costs £15.
Download our PDF to read when you like - it contains all the ins and outs of our Instant Access Savings account.
Instant Access Savings Account Details (PDF)(747KB)
Our Service Relationship with Personal Customers (PDF)(1.2MB)
For more information regarding your FSCS protection, please see the FSCS Information Sheet and Exclusion List.
Existing customer? Usually, the quickest way to apply for an Instant Access Savings account is in our App.
There are a few different ways you can pay money into your Metro Bank account, the fastest being a payment from one bank to another. You can also deposit a cheque or pay cash* into your account at your nearest store.
*Please note that you may be asked additional questions about the source of funds to help keep your money safe.
We’ve introduced limits on the amount of cash customers can pay into their Metro Bank account each day.
*If you are depositing foreign currency into a ‘regular’ GBP or a Foreign Currency Account, this will be the GBP equivalent of the above limits using the exchange rate on the day of the deposit
The new cash deposit limit for Commercial Current Accounts won’t be introduced until early 2023. If you have this type of account, your Relationship Manager will be in touch nearer the time to discuss the new limit with you.
Changes to who can pay in cash
To pay cash into a Metro Bank account you must either:
Exchanging cash
You can only exchange cash over the counter if you’re a Metro Bank customer.
You can transfer money from existing Metro Bank accounts online, in store or by calling us on 0345 08 08 500. If you’re transferring money from another bank or building society, you’ll need to give them your new Metro Bank details.
Yes, just pop into one of our stores. You can open a joint account to manage your money together.
You can find the rates for any account that is not listed on the current rates page set out in Rates for Closed Products.
Yes! Our Limited Edition rates can be opened by new customers or existing customers. All our existing customers have to do is open a new account and deposit the minimum balance within 28 days.
The Limited Edition rate will be applicable to your account for 12 months, but is variable, meaning that within the 12-month period the Limited Edition rate can go up or down, but it will not go below the Standard Variable rate that is available at that time.
Customers can see the interest rate being paid on their account at any time on their Mobile App or via Online Banking.
If you meet the criteria for the Limited Edition rate, this interest rate will be applied to your account from the next working day. Until that point your account will earn the Standard Variable rate. You can see your current interest rate at any point on mobile or online banking.
Your closing balance on a |
Limited edition rate applies from the following |
Monday |
Tuesday |
Tuesday |
Wednesday |
Wednesday |
Thursday |
Thursday |
Friday |
Sunday |
Monday |
If you meet the criteria for the Limited Edition rate, this interest rate will be applied to your account from the next working day. Until that point your account will earn the Standard Variable rate. You can see your current interest rate at any point on mobile or online banking.
During the eligibility time period we’ll assess whether you have met the Limited Edition rate criteria, and begin paying the Limited Edition rate. When the interest is paid from can be worked out using the following table:
Please note:
If you meet the Limited Edition rate criteria on a Friday or Saturday we will only consider your closing balance on a Sunday for the purposes of eligibility and applying the Limited Edition rate.
If there is a Bank Holiday (including before or after a weekend), we will only consider your closing balance on the last non-working day for the purposes of eligibility and the Limited Edition rate will apply from the next working day.
You can make withdrawals during the eligibility period, if at the point of assessment for an Limited Edition rate the balance is lower that the minimum required you have the option to top up while the eligibility period is still open.
Instant Access Savings Account interest is paid on the first working day of the month.
The Annual Equivalent Rate (AER) shows the rate of interest earned over the course of a year. You can use the AER to compare financial products. The Gross rate is the contractual rate paid & it's calculated daily. How often it's paid out depends on your account type and term.
Existing Metro Bank customers can apply to open a new Instant Access Savings Account through our Mobile App or via one of our stores. Customers new to Metro Bank can apply to open an Instant Access Savings Account online, via our website.
When applying via our app, log in and select Products & Services to see products available to open.
If you meet the criteria for the Limited-Edition rate, this interest rate will usually be applied to your account from the next working day – please see the Important Information Summary for more information.
Until that point your account will earn the Standard Variable rate. You can see your current interest rate at any point on mobile or online banking.
You can create new payees through our Mobile App or Online Banking.
You can nominate a payee for your Instant Access Savings Account through Online Banking or you can call us on 03450808500.
If you only hold an Instant Access Savings Account with us and would like to create a new payee or nominate a payee – please call us on 03450808500.
See through the fraudsters
If someone contacts you claiming to be from Metro Bank – or another bank or organisation – and asks you for your account details, it’s a scam. If this happens, please call us straight away on 03450808500.
Track your spending with our Insights feature, and manage your money on the go.
Your eligible deposits with Metro Bank are protected by the FSCS.