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Is Raisin for me?

Whether you’re a beginner saver, have a lump sum to invest, or wish to grow your existing pot, opening a savings account through Raisin UK is a great way to save, whatever you’re saving for.

But how does it work? Well, the first thing you should know is that we’re not a bank. What we offer is a free, easy-to-use, simple savings service that allows you to choose from a range of banks to save with. You can open and manage multiple savings accounts using our no-fees marketplace.

Just register with us, and you’ll have a choice of competitive savings accounts at your fingertips. The best thing? No more application forms! Once you’ve registered, you can apply for savings accounts in a few clicks.

What’s more, access your Raisin UK Account using our app and manage all your savings accounts in one place while you’re on the go.

What will I need in order to register?

To ensure that we have all the necessary information to open your account and to allow us to keep your account safe, during your registration process we will request that you:

  • Use a unique UK phone number not associated with another Raisin UK Account
  • Provide your bank account details*
  • Provide your national insurance number
  • State your annual net income
  • State your source of funds

*We’ll never make any charges to your bank account. We ask for this so that when you’re registered with us, you can easily transfer money between your nominated account and your Raisin UK Account.

Is my money safe?

Yes — all but two of our partner banks are covered by the Financial Services Compensation Scheme (FSCS), which covers deposits of up to £85,000 per person, per banking group. The two other partner banks are deposit-protected by separate schemes: HoistSavings, which is protected by the Swedish Deposit Guarantee Scheme, and AgriBank, which is protected by the Malta Financial Services Authority.

Your money journey

This diagram shows the journey of your money from your bank or building society account to a savings account:

The process is automated, so you only need to transfer money from your Nominated Account to your Transaction Account, and we’ll do the rest.

Please be aware that some of our partner banks don’t utilise the services of Meteor Asset Management (MAM). You can find out if a partner bank will transfer your money via MAM by reading the product description.

Fixed rate bonds

Open with a single deposit and lock in a competitive fixed interest rate for a set term, after which you can access your funds.

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Notice accounts

Open with a single deposit and earn a variable interest rate with access to your funds after a notice period.

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Easy access accounts

Top-up and access your money whenever you want while you earn a variable rate of interest.

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5.05% AER

1 Year Fixed Rate Bond

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5.40% AER

95 Day Notice Account

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4.72% AER

Easy Access Savings Account
Kroo Bank Ltd

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