Best savings apps in the UK – how to build a savings pot using your smartphone

5 min Read Published: 14 Apr 2021

The best savings account apps in the uk

Building up a sizeable savings pot can seem almost impossible at times and often the biggest hurdle is understanding your finances and knowing exactly how much you can put aside. Luckily, there are apps that are able to automate this process, providing a safe, simple and stress-free approach to saving money. In this article, we look at the best savings apps in the UK and provide a summary of the best features.

Best free apps to help you build savings

(that connect to your existing bank account)

Below is a list of apps that can help you to save money by connecting to your existing bank account. The apps analyse your spending habits and can automatically put money aside based on an algorithm. If you choose to save with any of the below apps, your money is saved in an account with the app and not with your bank.

Plum - Great for large savings targets

  • Analyses spending and suggests amounts to save
  • Saves money automatically
  • Rounds up transactions to the nearest pound and saves the change
  • Set savings goals
  • Can adjust savings amounts based on 'moods'
  • Easily withdraw your money when goals are reached
  • Chat with Plum via the App
  • Your money is kept in a virtual bank account with Payrnet
  • Earn interest on savings with an Easy Access Interest Pocket
  • No FSCS protection on the main Plum account (money in the Easy-Access pockets is protected by the FSCS)

Check out our Plum review

Tandem - Great for saving spare change

  • Automatic saving
  • Round up transactions to the nearest pound and save the change
  • Easily withdraw your money when goals are reached
  • Analyses and predicts a safe amount to save
  • Earn up to 0.4% AER with your Tandem savings account
  • Set up a regular payment amount to save
  • FSCS protection

Check out our Tandem review

Chip - Great for automatic saving

  • Analyses your spending and suggests amounts to save
  • Save without thinking using Artificial Intelligence (AI)
  • Set savings goals
  • Withdraw money at any time
  • Free but if you save over £100 in the initial 28-day free trial you will be charged £1.50 every 28 days
  • If you want access to Chip's free account you can downgrade but you cannot make use of saving automatically with Chip's algorithm
  • Money held in the main Chip account isn't FSCS protected but is 'ring-fenced' in a Barclays account

Check out our Chip review

Cleo - Great for making saving fun

  • Automatically save money
  • Get notified when you're near your overdraft
  • Analyses spending patterns
  • Chat with Cleo via the App
  • Set savings goals
  • No FSCS protection

Check out our Cleo review

Build up savings with an app-only bank account

(requires you to open a new bank account)

App-only banks allow you to save money via the app and even allow you to save whilst spending if you hold a current account with them. Below we have listed banks that have similar features to the savings apps listed above. As they are fully-fledged bank accounts, you also have the reassurance that your money is protected by the Financial Services Compensation Scheme (FSCS). For more app-only banks that offer handy saving and budgeting features within the same account that you bank with, check out our article 'The best app-only bank in the UK'.

Starling bank - Great for round-up saving

  • Set savings goals
  • Save in separate pots
  • Round up spare change from spending transactions
  • Analyse spending habits
  • Earn 0.05% interest on balances up to £85,000

Check out our Starling bank review

Monzo - Great for competitive interest rates

  • Set savings goals
  • Easily withdraw money
  • Round up spare change
  • Track your spending
  • Save with a fixed account and earn up to 0.35% in interest
  • Save with an easy access savings account and earn up to 0.10% interest

Check out our Monzo review