Before you apply
- Needs a Co-operative Bank current account (smile accounts are not eligible).
- The term is 1 year.
What a monthly payment earns
If you pay in each month
- About 7.00% AER on monthly payments for 12 months
- £113.75
- About
- £113.75
Pay in £3,000 over the year, earn about £113.75, finish with about £3,113.75. Why you earn about half the headline.
Before tax. This assumes the stored rate stays the same. Each monthly payment earns interest for the months left in the term, about 6.5 months on average. Information only, not a recommendation.
Is my money safe?
FSCS protected: up to £120,000 per person, per banking licence.
This account is on the The Co-operative Bank plc licence.
Legal name: The Co-operative Bank plc.
Check protection on the FSCS website ↗ (opens in a new tab)Key facts
Money in and out
- Minimum deposit
- £1
- Maximum each month
- £250
- Minimum each month
- £1
- Withdrawals
- Unlimited withdrawals
- Manage
- Online
Interest
- Rate
- 7.00% AER variable
- Gross rate
- 7.00%
- Interest paid
- At the end of the term
- Term
- 12 months
Who can open it
- Requirement
- Needs a Co-operative Bank current account (smile accounts are not eligible)
Source: co-operativebank.co.uk · Last verified 17 Oct 2026, 09:38 UK time
Rate history
We started tracking this account on 14 Oct 2026. Further changes will show here.
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