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

5 min Read Published: 19 Apr 2022

The best savings account apps in the uk

Building up a sizeable savings pot can seem almost impossible at times. Often the biggest hurdles are 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 their 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 using an artificial intelligence-backed 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.

PlumPlum* - Great for large savings targets

  • 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
  • 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 independent Plum review for more information.


ChipChip - Great for automatic saving

  • Analyses your spending and suggests amounts to save
  • Save without thinking using AI
  • Set savings goals
  • Withdraw money at any time
  • Money held in Chip savings and investment accounts are FSCS protected

Check out our independent Chip review.


moneybox review

Moneybox - Great for saving for your first home

  • Save as you spend with the round-up savings feature
  • Start saving with just £1
  • Choose between a Simple Saver or 32, 45, 95 and 120-day notice accounts
  • Save for retirement or your first home with a Lifetime ISA
  • Earn interest on your savings
  • FSCS protection

Check out our independent Moneybox review for more information.

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. 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 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 independent Starling Bank review for more information.


MonzoMonzo - Great for competitive interest rates

  • Set savings goals
  • Easily withdraw money
  • Round up spare change
  • Save with a fixed account and earn up to 1.45% in interest
  • Save with an easy access savings account and earn up to 0.65% interest

Check out our independent Monzo review for more information.


revolut savings app

Revolut* - Great for saving in different currencies

  • Set savings goals
  • Daily interest on GBP savings
  • Deposit lump sums or regular amounts
  • FSCS protection on savings (money held in a Revolut primary account is not FSCS protected)
  • Round up spare change
  • Save in multiple currencies

Check out our independent Revolut review for more information.

Additional savings advice

Looking for more ways to save? Check out our round-up of the best cash saving platforms in the UK, or try our top 25 money-saving tips that could save you thousands.

 

 

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