Easy Access Savings Accounts

You may need to pay tax on any interest earned from your savings depending on your Personal Savings Allowance (PSA). Interest from an Easy Access savings account is treated the same as other savings interest.

The variable rate on our Easy Access savings account doesn’t track the Bank of England Base rate. There won’t be any immediate impact if the Bank of England base rate changes, but we’ll review our rate within a few weeks and let you know of any changes. If the variable rate is going down, we’ll let you know 14 days in advance.

A variable rate means your interest rate can go up or down, it is not fixed like other savings accounts. You can check your current interest rate using online banking, and we’ll let you know by email if we plan to reduce the interest rate on your account.

Anytime, any place. Online banking is a simple and secure way to manage your money. You can login and check your balance or make withdrawals whenever you want.

There’s a few great benefits to opening an easy access savings account, including:

• Flexible access to your savings: you can withdraw and deposit money whenever you want to, no strings attached.
• Variable interest rate: the interest rate rises and falls over time, meaning the rate you have at the time you open the account could increase. Keep in mind that the rate could also decrease.
• FSCS protection: eligible deposits up to £120,000 are protected by the Financial Services Compensation Scheme (FSCS), so you can be rest assured that your money’s safe and secure.

You can open an Easy Access account with Hodge if you:

• Are at least 18 years of age
• Living in the UK and a UK tax resident only
• Hold a UK National Insurance number
• Hold a valid unique email address
• Hold a valid UK mobile number
• Hold a UK bank or building society current account in your name
• Are not be a US citizen (a resident, green card holder, or a US person on your worldwide income).

In addition to the above you could also be working as a Crown employee serving overseas and paid out of public revenue of the UK – typically a serving member of the armed forces or a diplomat.

Your nominated current account is the account you register with us when you open your Hodge savings account, and is the one you’ll use to send money to and from your new Hodge account. Your nominated account must be a UK current account, and not a savings account.

To help keep your money safe and protect against fraud, we’ll only accept deposits from this account, and we’ll always transfer money back to it too – whether that’s interest payments, withdrawals, or maturity. If your nominated current account changes because you switch banks, let us know as soon as possible.