Our features and benefits
Please note that from 2nd September 2025, the rate on our Everyday Savings Account will be 1.15% AER/1.14% Gross variable.
- Save at an interest rate of 1.30% AER/1.29% Gross variable
- Open an account with a deposit of just £1 - and top up your savings whenever you like
- Fee-free withdrawals - take out up to £10,000 online or up to your balance over the phone
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Benefits of an M&S Everyday Savings Account
- Fee-free withdrawalsThere's no limit on how often you can dip into your savings - you can withdraw any amount from £1 up to £10,000 online, or up to the balance of your account over the phone.
- Monthly interest paymentsInterest is calculated daily and paid into your account monthly, so you don't have to wait to use the extra money your savings earn.
- Manage your account easilyYou can add money to your savings account by bank transfer from your linked account. The maximum for each deposit is £1 million.
- Access your savings onlineYou can also access your savings account online whenever you want safely and securely. Find out more information about how to register for Digital Banking and download the M&S Banking App in our digital banking hub.
Ready to apply?
Apply over the phone
You can call us on 0808 001 3131. Lines are open 8am-8pm. Calls are recorded.
Frequently asked questions
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Definitions
AER is the annual equivalent rate and illustrates what the rate of interest would be if interest was paid and compounded on an annual basis.
Gross is the rate of interest if interest was paid and not compounded each year.
Interest is calculated daily and will be credited to your account monthly. Variable interest rates correct as at 03.06.2025.