New to OakNorth? Your AER includes a 1.14% boost for the first 12 months from account opening.
New customers earn 4.14% AER (variable) during this period. After 12 months, the boost ends automatically and the AER returns to the non-boosted 3% (variable). Existing customers receive the non-boosted rate.
There’s nothing you need to do — the boost is applied automatically, then removed automatically. Your AER tracks the Bank of England base rate, plus or minus a variable spread.
A new customer is someone who has never held an OakNorth personal savings account. 18+ UK residents. Subject to eligibility and Terms & Conditions. Offer may be withdrawn at any time.
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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For customers who are new to OakNorth only, an additional fixed boost of 1.14% AER for the first 12 months from the date the account is opened. Existing OakNorth customers will receive the variable interest rate without the boost.
| Product | Spread* vs Base rate (%) |
Interest rate without boost |
Interest rate with boost (includes a temporary increase of 1.14% AER for first 12 months) |
| Easy Access Tracker Account | -0.75 | 3.00% AER/ 2.96% gross (variable) |
4.14% AER/ 4.06% gross (variable) |
The interest rate follows the Bank of England base rate plus a spread, as shown above. Spread is the percentage added to or subtracted from the Bank of England base rate.
Your account will start accruing interest once we’ve received and processed your first deposit. This usually happens the same business day, but no later than the next. Interest is calculated on the minimum daily balance and applied monthly.
If you withdraw funds, interest will be calculated on your total balance up to – but not including – the withdrawal date.
Boost interest
The 12-month boost is available to customers who are new to Easy Access Tracker only from the date the account is opened. A new to product customer is defined as someone who has never held an Easy Access Tracker savings account before.
After the 12-month boost period ends, the boost will be removed automatically and your interest rate will move to the standard Easy Access Tracker rate, which continues to follow the Bank of England base rate plus a spread.
Go to the Bank of England website to monitor the base rate.
You can find the interest rates for all issues of our accounts on our website.
Yes. Interest rates are variable and tracks the Bank of England base rate. If the Bank of England base rate changes, the new interest rate on your account will apply from the following business day that this takes effect.
We may adjust the spread at our discretion, as outlined in our Terms and Conditions.
If the spread increases your rate, we’ll email you as soon as we can and in any event within 30 calendar days of the change taking effect. If it decreases, we’ll notify you at least 14 days in advance.
The 1.14% AER boost is fixed for the 12-month boost period and will not change during that time. Once the boost period ends, it will be removed automatically. We’ll notify you at least 14 days in advance of the boost being removed.
With 12-month interest rate boost for new customers:
| Product | Initial deposit at account opening | Balance after 12 months | Balance after 24 months (12 months with boost and 12 months without boost) |
| Easy Access Tracker Account | £1,000.00 | £1,041.40 | £1,072.64 |
Without interest rate boost:
| Product | Initial deposit at account opening |
Balance after 12 months |
| Easy Access Tracker Account | £1,000.00 | £1,030.00 |
These examples are for illustrative purposes only and are based on the current Bank of England base rate. They assume no further deposits or withdrawals, that interest is accrued daily and applied monthly, that any interest earned stays in the account, and that the Bank of England base rate does not change.
In addition, the “with 12-month boost” example assumes the boost applies for the full 12 months before reducing to the above non-boosted tracker.
These examples don’t take individual circumstances into account.
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 product includes a temporary introductory boost for new OakNorth Easy Access Tracker Accounts. After the boost period ends, the interest rate will reduce.
This Summary Box highlights key product features. It’s not a substitute for our full Terms and Conditions.
*4.14% include a 1.14% boost for 12 months. Available to new customers only
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.
Your boost applies for the first 12 months from the date your account is opened. After that, your AER returns automatically to the standard variable Easy Access Tracker rate. There’s nothing you need to do – the change happens automatically.
No. The account continues to track the Bank of England base rate as normal. The boost is simply added for the first 12 months for eligible new customers. When the boost ends, your account continues earning interest at the standard variable rate.
*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.
