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Important information: Fixed and notice savings accounts don't allow instant access to your cash. With a fixed term account, you can’t access your savings until the end of your term. With a notice account, you need to give notice that you want to withdraw your cash. Notice account rates can change. Remember that inflation may mean your savings won’t go as far in the future.

What is the Cash savings hub?

The AJ Bell Cash savings hub gives you access to competitive savings accounts from a variety of banks within one easy-to-use hub. We take the fuss out of finding better interest rates – all you need to do is browse our range of accounts, then deposit your cash. And it's easy to take action when your term's up.

Keep in mind that the Cash savings hub is a standalone service, so you can’t use it to transfer cash between other accounts that you have with us. And you’ll need to have an AJ Bell Pension, ISA or Dealing account with us to get started.

Competitive rates – so your savings stretch further

Free to use – we’re paid by our partner banks, not by you

Simple and straightforward – open savings accounts in seconds

Peace of mind – each account is covered by the Financial Services Compensation Scheme (FSCS), up to £85,000 per bank, and all our partner banks are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority

Types of savings accounts we offer

Fixed term deposit

You’re agreeing to ‘lock’ the money away until the end of a set term, so you won’t be able to withdraw any money until then. Fixed terms are typically between 6 months and 5 years.

Notice account

You can keep the money in your savings account for as long as you like, but you’ll have to give ‘notice’ when you want to withdraw your money. Notice periods are generally between 30 and 95 days.

Keep in mind that banks may calculate and pay interest or profit in different ways - for example, annually or at the end of the term. To find out more about how interest or profit is calculated and paid, you can read the individual savings account’s factsheet. Each account has its own minimum deposit limit.

Best rates on our Cash savings hub

See all savings rates

How to set up a savings account

Once you open your Cash savings hub, you can open a savings account in a few clicks. Remember that you need to already have an AJ Bell account created – whether that’s a Pension, ISA or Dealing account.

Choose your rate

Open your account by choosing a rate from our panel of trusted partner banks

Deposit your cash

Make an immediate secure payment

Reap the rewards

Sit back and relax as your savings earn interest

Payments must be made into the Cash savings hub from your nominated bank account with us, and we’ll hold the money in your own personal transaction account. If you’ve opened any savings accounts, they’ll be automatically funded, and once your term is up, the funds returned to the transaction account.

If you’ve opened multiple savings accounts, keep in mind they’ll be funded in the order you’ve opened them, so it’s important that you cancel any unwanted accounts. You can view and cancel any unfunded savings account applications by viewing ‘Pending savings accounts’ within the Cash savings hub.

Frequently asked questions

Do I need to be an AJ Bell customer before I open a Cash savings hub?

Yes, to open a Cash savings hub you need to have an existing account with AJ Bell in your own name.

What is the minimum amount I need to deposit to open a Cash savings hub?

The minimum amount you can deposit into a savings account is £1,000. However some saving accounts may have a higher minimum deposit amount, you can check this by reading the savings account’s fact sheet. The maximum you can save into savings accounts with any one bank is £85,000.

If you’re making a large payment into your Cash savings hub, it’s important to check whether your bank will let you do it in one go. Some banks have a maximum daily limit on Faster Payments. Alternatively you can instruct your bank to make a CHAPs payment to your transaction account. Your bank will normally charge you for this service; please contact them to find out more and arrange the payment. CHAPs payments are normally received the same day, provided it is submitted by the bank's cut-off time.

You can also make a number of smaller payments into your transaction account if you wish but the minimum deposit amount into a savings account is £1,000. Please remember that you don’t earn any interest on cash in your transaction account.

Who is eligible to open a savings account?
To open a Cash savings hub, you need to be a UK resident aged 18 or over. You also need to have an existing account with AJ Bell in your own name – and must open your Cash savings hub in your own name, too.

You can’t open a Cash savings hub with us if you:
- Live overseas
- Aren’t a UK resident for tax purposes
- Already have an account with our partner, Raisin UK
- Are acting as an Attorney or Deputy for somebody else

Can I withdraw from a fixed term deposit before the end date?

You can’t normally withdraw from a fixed term savings account before the maturity date. But the partner bank may be prepared to agree an early termination in exceptional circumstances, such as the account holder’s death.

If you need to access your money early, please contact us for help.

Will the interest or profit rate on my notice account ever change?

Yes, the partner bank is entitled to change the interest rate on your notice account. If they decide to reduce the rate, they’ll give you notice of the decrease. How much notice you are given will depend on the length of notice period on the account and you can decide to give notice to end the deposit if you wish. If they decide to increase the rate, they’ll give you a few days’ notice.

In either case, we’ll post a message on your Cash savings hub to let you know the interest rate is changing, and we’ll also confirm by email.

What is a fixed rate savings account, deposit or bond?

A fixed rate deposit or bond is a type of savings account that pays you a fixed amount of interest or profit in return after you’ve locked your cash away for a set period of time. You won't be able to access your money until the end of the term.

How are my savings protected in my Cash savings hub?

All the partner banks on our panel are authorised by the Prudential Regulation Authority (PRA), regulated by the Financial Conduct Authority (FCA) and the PRA, and are covered by the FSCS. This means that if a panel bank failed and wasn’t able to pay its debts, the FSCS will compensate you for any eligible deposits you hold with that banking license – up to £85,000. Any deposits you hold with the bank above this limit won’t be covered by the FSCS, but could still be reclaimed from the bank through the insolvency process (though there are no guarantees, and it could take some time to claim).

How do I make a claim?

If your bank fails and you think you have a claim, you can make your claim directly with the FSCS. If your claim is upheld, the FSCS should then automatically return your money (up to the £85,000 limit described above).

When your money is returned can vary, depending on the bank or banking group you’re saving with. If the bank holds your money directly, you should get it back within one week. If they hold your money in a ‘trust’ model (meaning it’s held through Meteor Asset Management), it can take up to three months – but usually happens a lot sooner.

What is a Sharia-compliant savings account?

A Sharia-compliant savings account operates according to Islamic principles – they are socially responsible, ethical and don’t involve exploitative returns such as interest or speculation.

Learn more about Sharia savings accounts.

See more FAQs

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