New benefit
Interest: 4.54% AER¹
Added Protection:
Maximum Balance: £85,000
Available for: All Wagestream members
Interest Payments: Daily
A quarter of UK workers have no safety net, with less than £100 in savings (Money and Pensions Service)
Lacking a financial buffer leads to a reduction in productivity, compounded mental health issues and a poorer quality of life
(Martin Lewis' Money & Mental Health Policy Institute)
The latest research confirms the potential of the workplace for getting more people saving
(Nest Insight, 2024)
That's why we've launched a workplace savings benefit that unlocks interest rates usually reserved for corporations and the wealthy, for your entire team.
Lloyds Easy Saver | Barclays Everyday Saver | Natwest Flexible Saver | HSBC Flexible Saver | Wagestream Save | Investec Flexi-saver | |
---|---|---|---|---|---|---|
Interest | 1.90% AER | 1.66% AER | 1.75% AER | 2.00% AER | 4.54% AER¹ | 4.60% AER |
Interest paid | Monthly | Monthly | Monthly | Monthly | Daily | Monthly |
Min. deposit | £1 | £1 | £1 | £1 | £0 | £5,000 |
Better interest than the high street banks, paid daily into the Wagestream app.
¹ 4.54% AER, subject to variability. Interest-bearing savings are available to all Wagestream members aged 18+ excluding US citizens and those with tax residency outside the UK. ² Comparison against Lloyds Easy Saver, Barclays Everyday Saver, HSBC Flexible Saver and Natwest Flexible Saver as of 16 August 2024. Workplace Savings are provided through Wagestream Finance Ltd.
For more information about Workplace Savings or any of our financial benefits for your colleagues, speak to a member of our team.