RCI Bank: get a top easy access savings account and other fixed-rate deals

RCI Bank is a challenger that keeps going from strength to strength – especially when it comes to easy access savings. Who is it and what does it offer?

Who is RCI Bank?

RCI Bank has only been operating in the UK since June 2015 and offers an array of savings accounts.

The challenger bank has a dedicated UK-based customer service team and call centre that's open seven days a week.

It’s French and part of RCI Banque, car firm Renault’s global banking group.

Under that name, it has been offering car finance with Renault, Nissan, Dacia and Infiniti in the UK for the past 20 years. 

What’s on offer from RCI Bank?

The bank offers the best easy access savings account at present.

The Freedom Savings Account pays 1.10% AER to new and existing customers, with a minimum investment of £100. 

Take a look at how it compares to other easy access accounts in the table below.

What about fixed-rate accounts?

Its fixed-rate savings accounts are nowhere near as competitive.

You can choose a one-year fixed-rate savings bond at 1.31% or a two-year bond at 1.55%.

Its best fixed-rate account is probably the three-year deal, which pays 1.70%.

However, it can still be beaten by a number of other financial institutions. Take a look at the top three-year fixed-rate products currently on the market, which we've listed below.

Compare even more fixed-rate savings accounts with loveMONEY 

Is your money safe?

RCI Bank is not covered by the Financial Services Compensation Scheme (FSCS), which covers the first £85,000 of savings per person should a bank go bust.

Instead, it’s authorised and regulated by the French regulators and savers are protected under the French guarantee scheme, Fonds de Garantie des Dépôts et de Résolution (FGDR), up to the value of €100,000 (about £85,300).