Savings Interest Rates, Switch Offers and Guides for Atom Bank

Who they are

Atom Bank holds the distinction of being the UK's first bank built for smartphone or tablet - no branches, and the first digital-only challenger bank to be granted a full UK regulatory licence. It was founded in 2013 by Anthony Thomson, co-founder of Metro Bank, and Mark Mullen, previous CEO at First Direct, and is based in Newcastle upon Tyne. Unlike rivals such as Monzo or Starling, Atom offers savings accounts and mortgages rather than current accounts, which means it stays tightly focused on what it does well. Customer numbers have reportedly surpassed 224,000, with savings deposits reaching £6.6 billion. On Trustpilot, Atom holds 4.8 out of 5 stars and a rating of "Excellent", based on over 20,000 customer reviews, with customers consistently singling out the app's simplicity and competitive rates.

Savings accounts

Atom's range is built around two things: instant-access flexibility and fixed-rate certainty. On the easy-access side, the Instant Saver and Instant Saver Reward both pay variable rates - the Reward account is higher, but it works best if you avoid making withdrawals in a given month. There is also an Easy Access Cash ISA for savers who want to shelter interest from tax.

For those happy to lock money away, Atom's Fixed Savers run from six months all the way out to five years, starting from just £50. Rates are fixed for the full term, so you know exactly what you will earn. All accounts on DepositScout show their current rate alongside full product details - the figures below are live and worth checking before you apply, as they move with the market.

Atom holds its own banking licence, which is not shared with any other bank. FSCS protection covers up to £120,000 per depositor - if Atom were to go out of business, eligible deposits would be added up and the £120,000 limit applied to the total balance. That protection applies across all your Atom savings accounts combined, not per account.

One thing worth knowing if you have old ISA savings elsewhere: Atom does not currently accept ISA transfers in, so this is a new-money-only option for ISA savers.

Is it right for you?

Atom suits savers who are comfortable managing everything through an app and do not need a current account or branch access. The app scores 4.8 out of 5 in the App Store from more than 68,000 reviews, and 4.9 out of 5 on Google Play from over 19,500 reviews, which suggests most people find it straightforward day to day. The lack of ISA transfers in is a genuine limitation if consolidating old ISA savings is your goal. And if you want total flexibility, it is worth comparing the Instant Saver Reward's conditions against pure easy-access accounts elsewhere.

For fixed-rate savers in particular, Atom has consistently appeared in best-buy tables and the low £50 minimum makes it accessible without needing a large lump sum to get started.

Check the live rates shown on this page before applying - they are updated regularly and what matters is the rate available on the day you open.