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Best Savings Accounts For Students

best saving accounts for students

School's in session, but it's not just about hitting the books! If you're a savvy student looking to get a head start on financial freedom, you've come to the right place. Say goodbye to piggy banks and hello to the digital age of student savings accounts.

Prograd's algorithm helps you find the best bank accounts for saving money as a student! Just fill in our 20 second form to find a bank account that work for you.

What Is a Saving Account?

A savings account is like your personal money stash at a bank or credit union. It's where you park your cash, and earn a bit of extra money (the bank calls it "interest"). You can get your money whenever you need it, like for future plans or unexpected stuff.

Unlike your normal account, which is for everyday spending, a savings account is all about growing your money while keeping it safe.

What to Consider When Opening a Student Savings Account?

Okay, so there are lots of bank accounts that offer great saving options for students. But the best will have some of the features below, so look out for these!

  • Have a Digital App - Any student these days knows that digital wallets are where it’s at!
  • Nearby Branch - Even with an app, it can be nice to pop into a nearby branch if needed.
  • High Interest - Any student who wants to save wants to save big, right? Cha-ching!
  • Student Perks - Some banks offer extra goodies for students like cashback rewards, and freebies.
  • Safety First - As a student, the last thing you want on your plate is your money in trouble! Better safe than sorry, right?

What Are The Saving Accounts for Students?

Nationwide FlexDirect

With Nationwide, you need to pay £1,000 each month to keep the account floatin’. Don’t worry, it’s pretty normal for a savings account to have a minimum balance requirement. Still, it might be best for only students with a part-time job or hustle to check this one out.

This account has a 5% AER fixed interest on balances up to £1,500 for the first year. It’s worth noting that no interest will be paid on anything above that.


Santander offers a great student current account, but it also has great savings accounts too! Its range of savings accounts means that, whether you’re saving for some epic nights out or planning for the future, one will meet your needs.

So, if you already have a Santander student account, we recommend setting up a Regular Saver savings account. With it, you can save up to £200 a month. Result!


Already have an HSBC Student Account? Why not go the whole hog and set up a savings account with the bank too?

With the Regular Saver account, you can save from £25 to £200 a month with a 5% AER.

Virgin Money

You heard us right, Virgin is useful for more than booking great holidays! This account has no minimum amount that needs to be paid in each month and unlimited withdrawals. This makes it perfect for any student, job or not!

There is a 2.02% AER variable interest paid monthly on your current account balance up to £1,000.


In addition to the widely popular Barclays Student Additions Account, Barclays also offers great savings accounts.

With its range of accounts, you can start today from as little as £1 (which may not be too far from the mark with some students!) Barclays offer handy features so you can track your spending, and it has a helpline that stays open late most days.

Why Not Try a Student ISA?

There are lots of great ISAs for students, so it would definitely be worth checking this one out. In fact, most of the banks mentioned above also offer ISAs. So go on, take a look!

You can stash up to £20,000 in ISAs every tax year, whether you throw it all into one account or spread it around. The best part? No taxes on the interest you earn!

This makes it a smart move for sensible students wanting to save for those long-term goals!


We all know things aren’t getting any cheaper for students, so having a savings account that suits your lifestyle is a must. Whether you prefer a traditional bank, an online-only bank, or an ISA, there are options galore to stash your cash and watch it grow.

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