RCI Bank is a challenger that keeps going from strength to strength – especially when it comes to easy access savings. Who is it and what does it offer?
Sections
Who is RCI Bank?
What’s on offer from RCI Bank?
The bank offers the best easy access savings account at present.
The Freedom Savings Account pays 1.10% AER to new and existing customers, with a minimum investment of £100.
Take a look at how it compares to other easy access accounts in the table below.
|
Account |
AER |
Minimum investment |
Access |
|
1.10% |
£100 |
Online |
|
|
Leeds Building Society Limited Issue Online Access Account |
1.05% |
£1,000 |
Online |
|
Virgin Money Defined Access E-Saver Issue 10 |
1.01% |
£1 |
Online |
|
NS&I Income Bonds |
1.00% |
£500 |
Online, post, phone |
|
0.90% |
£500 |
Branch, post |
What about fixed-rate accounts?
Its fixed-rate savings accounts are nowhere near as competitive.
You can choose a one-year fixed-rate savings bond at 1.31% or a two-year bond at 1.55%.
Its best fixed-rate account is probably the three-year deal, which pays 1.70%.
However, it can still be beaten by a number of other financial institutions. Take a look at the top three-year fixed-rate products currently on the market, which we've listed below.
|
Account |
AER |
Minimum investment |
Access |
|
Atom Bank 3 Year Fixed Rate Saver |
2.20% |
£50 |
Online |
|
Secure Trust Bank Fixed Rate Bond 3 Year Term (Series 11) |
2.00% |
£1,000 |
Online |
|
Charter Savings Bank Fixed Rate Bond |
1.85% |
£1,000 |
Online |
|
Milestone Savings Fixed Term Deposit |
1.80% |
£10,000 |
Online |
|
1.76% |
£500 |
Online |
|
|
Bank of London and The Middle East Premier Deposit Account |
1.75% |
£25,000 |
Online |
|
Ikano Bank Fixed 3 Year Saver |
1.70% |
£1,000 |
Online |
|
1.70% |
£1,000 |
Online |
Compare even more fixed-rate savings accounts with loveMONEY
Is your money safe?
RCI Bank is not covered by the Financial Services Compensation Scheme (FSCS), which covers the first £85,000 of savings per person should a bank go bust.
Instead, it’s authorised and regulated by the French regulators and savers are protected under the French guarantee scheme, Fonds de Garantie des Dépôts et de Résolution (FGDR), up to the value of €100,000 (about £85,300).