New benefit
Interest: 4.7% 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 | 4.70% AER* | 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 4.7% 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.
*The Workplace Savings interest rate will be changing from 4.7% AER to 4.54% AER on 5 December 2024
For more information about Workplace Savings or any of our financial benefits for your colleagues, speak to a member of our team.