Is a Smart Saver account right for me?

Smart Saver could be right for you if:

• You’d like to start saving from as little as £1 and up to a maximum of £250,000.

• You like the flexibility and control of deciding when you need access to your savings.

• You like to organise your savings into different pots at different rates.

• You have a smart phone and are comfortable with mobile banking. Smart Saver is only available in the Zopa app, allowing you to manage your savings 24/7.

Smart Saver offers three different ways to save, through our Boosted, Access and Fixed Term pots. You can open up to 20 pots across our Smart Saver and Smart ISA accounts.

Here’s how our Smart Saver pots work:

Boosted pots

• Designed to help you set aside some of your money at a higher interest rate and remove the temptation to spend.

• You choose a notice period of 7, 31 or 95 days. This is the number of days' notice you’ll need to give before you can withdraw your money.

• While your money is in a Boosted pot, it earns a higher interest rate than Access pots. The longer the notice period you choose, the higher your interest rate. When you want to access your savings, simply give notice inside the app and count down the days until you can withdraw your money.

Access pots

Access pots keep things super simple. The interest rate is slightly lower than what you could earn in a Boosted pot, but you can withdraw your savings from Access pots whenever you want.

Fixed Term pots

• Designed to help you lock away money for long-term goals in return for a guaranteed interest rate — meaning you'll know exactly how much you'll earn at the end.

• You choose a term of 1, 2, 3, 4 or 5 years and receive a fixed interest rate for the duration of your chosen term. 

• Once you've added money to a Fixed Term pot, you won't be able to withdraw it until your chosen term has ended, not even for a fee. 

Interest

The interest rate you’ll earn will depend on the type of pot you open.

The interest rate on Access pots is variable, so it can change over time. The interest rate on Fixed Term pots is fixed, meaning your interest rate is guranteed for the duration of your chosen 1–5 year term. 

The interest rates on Boosted pots are set at a certain percentage below the Bank of England base rate. We have the right to change these percentages, and we’ll notify you via email if we ever do. If the base rate changes, your Boosted pot interest rate will change by the same amount.

If this doesn't sound quite right for you, we also offer a Smart ISA, where you can open Access and Fixed Term ISA pots and any interest you earn will be tax-free.