Vida Savings

Who they are

Vida Savings is a trading name of Vida Bank Limited , a fully independent UK bank headquartered in London. Since 2016, Vida Bank has offered specialist residential and buy-to-let mortgage solutions through its Vida Homeloans brand, working with over 15,000 mortgage intermediaries to serve customers who do not meet the underwriting criteria of mainstream lenders. Through its Vida Savings brand, Vida Bank provides a range of savings accounts designed to offer competitive returns.

Just days after receiving its full banking licence, Vida Bank announced the launch of its first savings product in late 2024, making it one of the newest entrants to the UK savings market. It is a relatively small institution - in 2024, Vida Bank achieved the position of 95th largest bank in the United Kingdom, with total assets growing by 16.82% - but its growth trajectory is notable for a bank of its age.

Savings accounts

Vida Savings has built its product range quickly since launch. Notice accounts are available for savers who know when they will need their money, allowing deposits at any time and access with advanced notice in exchange for a higher rate. Access accounts give the flexibility to add savings at any time while still allowing access to funds, with options to limit withdrawals in exchange for a higher rate. Fixed rate bonds are also on offer - a fixed rate bond allows you to lock away money for a set period, with the interest rate guaranteed for the duration, giving you certainty about what you will earn.

According to our DepositScout data, Vida Savings has featured in the competitive two-year fixed rate space. As always, rates move regularly, so the live figures on this page are your best guide to what is available right now.

FSCS protection

As Vida is a UK based bank, all savings accounts are protected by the Financial Services Compensation Scheme (FSCS), which gives automatic protection for up to £120,000 of your savings. As the limit applies to individuals and not accounts, the FSCS will protect up to £240,000 of savings in joint accounts, as long as either person does not have any other accounts with the same firm.

One thing worth noting: some banks share a banking licence with other brands, which can reduce how much of your total savings is covered. You do not need to worry about this at Vida - they do not share their protection with anyone else. That is a straightforward reassurance for savers who hold money across multiple providers.

Is it right for you?

Vida Savings is a good fit for savers who are comfortable banking online with a newer, challenger-style institution and want to put their money to work in a fixed or notice account. Accounts are available 24/7, with a mobile app to manage your savings whenever and wherever you need. There is also a UK-based customer service team on hand to help.

The bank's independence means your FSCS limit is unaffected by any other savings you hold elsewhere under different licences. For those looking to spread a larger pot across providers, that clean separation is worth having.

As with any savings provider, the rate picture changes over time. Check the live rates shown on this page to see exactly what Vida Savings is offering today and how it compares to the rest of the market.