Savings Interest Rates, Switch Offers and Guides for RCI Bank

Who they are

RCI Bank is one of the more unusual names in UK savings - and that is part of the appeal. Renault created its own internal bank in 1974 to help customers finance vehicles all over the world. In 2015, RCI Bank launched in the UK with a vision to provide a real alternative for UK savers by offering transparency, simple accounts and great service. It launched using its French banking licence, but was subsequently authorised as a full UK bank in March 2019, and uses its savings book to finance car loans for Renault and Nissan. So your deposits do something tangible - they help fund vehicle sales in the UK, including Nissan production in the North East of England.

RCI Bank is a digital bank that offers simple and straightforward savings accounts, providing customers with an award-winning service online and via its app. Its support team is available in the UK seven days a week.

Savings accounts

RCI Bank keeps its range focused and sensible. On the flexible side, the Freedom Savings Account (Easy Access) offers a variable rate and a low minimum of just £100. If you want a little more in return for some patience, the 95 Day Notice Savings Account and the E-Volve Savings notice account both sit at variable rates with £100 or £1,000 minimums - worth checking which suits your balance.

For those happy to lock money away, RCI offers fixed-rate bonds from one to five years, all requiring a minimum of £1,000. The 2 Year Fixed Term Cash ISA rounds out the range for tax-conscious savers. All specific rates are shown live on this page, as they change over time - always check there for the current figures.

Eligible deposits with RCI Bank UK Limited are protected up to a total of £120,000 by the FSCS, the UK's deposit guarantee scheme - any deposits above that limit are unlikely to be covered, and the protection covers all accounts with the bank, not each account individually. For joint accounts, each customer is protected up to £120,000, so up to £240,000 between them. That £120,000 limit is higher than the standard £85,000 ceiling you see at most UK banks, which is worth noting if you hold larger balances.

Is it right for you?

RCI Bank suits savers who want a clean, no-fuss digital experience and competitive rates without the noise of a high-street bank. There are no current accounts or switching offers here - it is purely a savings proposition. The seven-day phone and online support is a genuine plus for anyone who prefers a human on the end of the line. The easy-access account carries one rate across the board, which is good for fairness - new savers cannot get a better rate than existing ones.

If you are comfortable managing money online or via the app and want a straightforward place to park cash - whether flexible or fixed - RCI Bank is worth a look. Compare the live rates shown on this page to make sure the current figures still stack up against the wider market before you decide.