The Simple Saver is a savings account which allows you to build your savings and access your money when it suits you.

The account has an underlying interest rate of 3.5% AER (variable). You can pay in up to £85,000 in total and can keep the account open for as long as you like.

Withdrawals can be requested in the app in Settings > Withdraw and are limited to one per calendar month. Any requested withdrawal will be paid back to you on the next working day.

Moneybox does not charge you for your Simple Saver, however we will receive a fee from some of the third party banks where your money is deposited. The interest rate you see in the app is the interest rate you’ll receive.

If you hold a balance of above £0 in a qualifying Moneybox account (ISA, LISA, JISA, or Pension), or you have a Reward Savings Account that hasn’t been cancelled, you’ll earn a reward rate of 1% (variable) on top of the underlying rate of 3.5% AER (variable). This gives you a reward rate of 4.50% AER (variable).