EARN UP TO 3.50% AER (VARIABLE)
Your savings move with the Bank of England’s base rate.
Your goals, your timeline. With an OakNorth Easy Access Tracker account, you’ll get a variable rate and benefit from the flexibility to access your funds the next business day. It’s ideal for both short – or long-term savers.
The interest rate on this account tracks the Bank of England base rate, plus or minus a spread (this is the rate that we add or subtract from the Bank of England base rate). When applying, you will have full clarity on the interest rate (which will include the Bank of England base rate and the spread). So, if the base rate goes up, your rate will go up; and if the rate comes down, your rate will follow.
You can open an Easy Access Tracker account with as little as £1.
Access your money as and when you choose, with unlimited withdrawals.
No teaser rates. No small print. Just transparent savings – it’s as simple as that.
Term
AER
Min. deposit
Withdrawals
The Financial Conduct Authority is a financial services regulator. It requires OakNorth to give you this important information to help you decide whether our Easy Access Tracker accounts are right for you. You should read this document carefully, together with the General Terms & Conditions and Product Terms & Conditions for Easy Access Tracker accounts, so you understand what you are buying, and then keep it safe for future reference.
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| Term/Product | Spread* vs Base Rate % | Gross rate (%) | AER (%) | |
|---|---|---|---|---|
| Next-day access | -0.25 | 3.45 | 3.50 |
The interest rate tracks the Bank of England (BoE) Base Rate (To view the latest rate visit here) plus/ minus a spread* as mentioned above.
Your account will start generating interest no later than one business day from when we receive and apply your deposit to your OakNorth Bank account.
Interest is calculated on the minimum daily balance and applied to the account on the first day of every subsequent month.
If a withdrawal request has been made, interest will be calculated on the total amount until, but not including the day of the withdrawal.
*spread in this document refers to the rate that is added or subtracted to the Bank of England Base Rate
Yes. Interest rates are variable and can be increased or decreased dependent on the Bank of England base rate.
OakNorth may also adjust the spread at any time at our sole discretion as outlined in the Interest Section of our Specific Terms and Conditions – Easy Access Tracker Account.
If we change the interest rate spread on your savings account, which results in your interest rate increasing, we will email you about this increase and confirm the date of the change taking effect. If we change the spread applicable to your interest rate, which results in your interest rate decreasing, we will notify you at least 14 calendar days prior to the decrease.
| Term/Product | Initial Deposit at account opening | Balance after 12 months |
|---|---|---|
| Next-day access | £1,000 | £1,035.00 |
*This is only an example for illustrative purposes and does not take into account your individual circumstances.
This example is based on the reference interest rate as it stood at the time the projection was made and assumes that no further deposits or withdrawals are made, that the interest is accrued daily and applied to the account monthly, that any interest earned stays in the account, and that there is no change to the reference interest rate or spread.
You must be a UK resident aged 18+ with a personal UK bank or building society account. Apply via our website or app.
Once approved, you’ll have 14 calendar days to make your first deposit. The minimum deposit required to open your account is £1. After the 14-day window, your account will be automatically closed if no funds have been added.
You can deposit up to £500,000 into a single account, and make multiple deposits at any time – up to the maximum balance allowed. However, the total amount you can hold with us across all your OakNorth accounts (excluding interest) is capped at £500,000 per person.
If the product is withdrawn, existing accounts will remain open, but no new applications will be accepted.
To manage your account, log in via the OakNorth web platform or app. Alternatively, you can contact us by email or phone.
Yes. You can withdraw funds at any time with no limits on the number of withdrawals. Withdrawals are processed the next business day or within two business days if requested on a non-business day.
Withdrawals can be made via the OakNorth web platform or app, or by contacting us via email or phone.
If your balance remains £0 for six months, we may close your account. You’ll be notified at least six weeks in advance.
Interest will be paid gross, with no tax deduction. This is based on current tax laws, which may change. The Annual Equivalent Rate (AER) shows the interest rate if paid and compounded annually.
This Summary Box highlights key product features. It’s not a substitute for our full Terms and Conditions.
Use our calculator to find out how much interest you could earn and what your savings might be worth at the end of your term.*
If you don’t need next business day access to your funds, you could earn more with a Notice Base Rate Tracker account, which requires a 95-days’ notice to withdraw your money. Or, see our full range of accounts designed to suit different saving needs.
Before you get started, remember: with this specific account, your money’s ready to go with next business day access — with variable rates.
Here’s how it works in 3 simple steps:
Download our app or visit the website to fill out a short application — it only takes a few minutes.
Top up or withdraw as and when you like, with a minimum balance of £1.
Your interest starts accruing the next business day. Sit back and let your savings grow.
Since 2015, our lending has helped create 56,000 new homes and 34,000 jobs, driving real impact across the UK. We’re committed to sustainability, targeting net zero across all emissions by 2035, including those we finance. Through our 1+1% Commitment, we donate 1% of group profits and 1% of our team’s time to charitable initiatives, helping communities thrive while your savings grow.
It’s a flexible savings account where the interest rate moves in line with the Bank of England base rate (plus or minus a spread). You can top up at any time and access your money within one business day.
You can apply if you’re aged 18 or over, a UK resident and have a personal UK bank or building society account to transfer funds from.
You can start saving with as little as £1.
Yes. Interest rates are variable and can be increased or decreased depending on the Bank of England base rate. We may also adjust the spread at any time at our sole discretion as outlined in the Specific Terms and Conditions – Easy Access Tracker Account.
No, this account is only available to individual applicants at the moment.
*This calculator provides an illustrative estimate of how your savings could grow over time based on the information you enter. The estimate assumes that the interest rate does not change during the period, that any contributions are made on the [1st of the month] and no withdrawals are made. The estimate does not account for tax, fees, or future rate changes. Actual returns may vary depending on your account type, deposit amount, term, and tax status. This information does not constitute financial advice or a recommendation, and OakNorth Bank accepts no responsibility for any losses arising from reliance on these calculations.
