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Banking (UK)

Everyday accounts, savings accounts, interest rates and deposit protection.

UK providers quote savings returns as AER, which expresses what a year returns once interest compounds, so an account paying monthly can be compared with one paying annually. Eligible deposits are protected by the FSCS up to £85,000 per person per authorised firm — and that limit attaches to the banking licence, not the brand, so two familiar names can share one.

What this section covers

  • How savings interest is quoted in this market
  • What deposit protection covers, and what it does not
  • Choosing between account types
  • Conditions attached to headline rates

Written for the United Kingdom. Terminology, protection limits and regulators differ between markets, so a guide from another country will not transfer cleanly.

UK banking guides

    Answer

    FSCS Protection: What's Covered If a Bank Fails

    The FSCS protects eligible deposits if an authorised firm fails. Here is the limit, why banking licences matter more than brands, and what falls outside.

    Updated 25 August 2026 · 3 min read
    Answer

    What Is AER on a Savings Account?

    AER shows what a savings account returns over a year once interest compounds. It exists so accounts paying monthly and annually can be compared honestly.

    Updated 25 August 2026 · 3 min read

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