Compare our savings accounts

M Power current account 1.00% AER¹ (1.00% Gross² P.A.) variable on balances up to £1,000, interest paid monthly.

Linked to the M Power Saver 2.50% AER¹ (2.48% Gross² P.A.) variable on balances up to £25,000, and 2.00% AER¹ (1.99% Gross² per annum variable) on balances above £25,000. Interest paid quarterly.

Account features

• Pay money in or take money out at any time
• No monthly fee
• They get a debit card and app to manage their money
• You can keep track of their spending from your app

Fixed rate until 24 December 2025 of:

4.46%

AER¹ Tax-free³

Pay money in Within 30 days from account opening Pay up to £20,000 in the current tax year. ISA Transfers in are accepted during this period.

Take money out Subject to a charge Equivalent to 60 days loss of interest on the amount withdrawn

Variable rate of:

Pay money in At any time Pay up to £20,000 in the current tax year. ISA transfers in are accepted at anytime

Take money out At any time

Variable rate of:

Pay money in At any time Pay in up to a maximum balance of £250,000

Take money out At any time

Fixed rate until 20 December 2025 of:

4.46%

AER¹ Gross² P.A.

Pay money in For a limited period of time Up to the maximum balance of £1,000,000

Take money out No withdrawals permitted during the fixed rate period