Whether you’re saving up for your next holiday or for retirement, money management app Plum helps your money work both harder and smarter. Tax treatment is based on your personal circumstances.
You'll almost certainly have financial goals that you want to achieve.
You might be saving towards a new car, your first home or even a comfortable retirement.
Regardless of what it is you’re working towards, achieving it is going to take some planning – and that can be daunting.
You need to make sure your money’s in the right place. You have to be sure you’re setting the right amount aside. You also need to ensure you’re doing so regularly, and then keep an eye on your progress to ensure you stay on track.
And in amongst all that, you need to ensure your money is accessible in case a financial emergency arises and you need to dip into it at short notice.
Like we said, it can be daunting.
That’s where Plum comes in.
What is Plum?
It’s a money management app that brings all your existing accounts together in one place to keep things nice and simple.
You’ll also get access to a range of great savings and investment products (capital at risk) and, crucially, financial planning tools and tips that’ll help you choose where, when and how to save to get more from your money.
So rather than having to do all the work yourself, you can get help when you want it, automate the things you don’t want to do and even set up clever ‘rules’ that’ll boost your contributions without you even realising.
Let’s take a closer look at how it works.
How can Plum help me?
The star of the show is Plum Plan, which is effectively your own personal guide within the app, helping you achieve your financial goals step by step.
All you need to do is set out what it is you want to do, and it’ll get to work drawing up a plan.
For example, it’ll start by suggesting suitable products.
Do you need an access savings account, or perhaps a tax-free Cash ISA? Maybe your goal is saving for your first home, in which case it’ll highlight the Lifetime ISA, which offers a 25% Government boost to your savings to help you get on the property ladder sooner. Note that a 25% Government charge may apply for early withdrawal. Lifetime ISA rules apply.
Whatever your goal, it’ll help you identify accounts and products best suited to your needs.
Next, it’ll get to work drawing up a savings plan, helping you understand how much to set aside each month as well as a realistic timeline to achieving your goals.
These suggestions will be specific to your situation.
Because Plum Plan can look at your linked debit card and accounts to better understand your monthly income and expenses, it can set realistic, achievable targets for you.
If you’re happy with what you see, you can then let Plum automate everything for you.
Disclaimer: Plum Plan gives general guidance only, not financial advice. Guidance is based upon the information you provide.
What else can Plum do for me?
We all know that saving can be hard, especially given the ongoing cost-of-living squeeze.
With that in mind, Plum has created eight clever ‘rules’, which are basically tricks to help ensure you save enough – and perhaps even set aside a little extra without realising.
Note that some rules are only available to paid subscribers (more on that later).
Let’s look at some of the rules to give you an idea of how they could work for you.
To ensure you set money aside before temptation sets in, the ‘pay day’ rule will automatically set aside a specified amount whenever you get paid so the money is out of sight and out of mind.
There’s also a ‘weekly depositor’ rule, which lets you select a specific sum to be automatically deposited each week.
As we mentioned, there are also rules that’ll help you boost the amount you set aside.
To do this, you can make use of the ‘round-ups’ rule, where Plum will automatically round up any transaction you make with your linked debit card to the nearest pound and deposit this into your savings or investments.
If there are particular takeaway or clothing stores you know you should avoid but just can’t, the ‘naughty rule’ will set aside a specific sum of your choosing whenever you spend there.
These rules might only make small contributions, but they can make a big difference to your savings pot over time.
What kind of products does Plum offer?
Now that we’ve gone through how Plum can help you make more informed choices with your money, let’s take a quick look at the actual products it can offer.
There’s the Plum Easy Access Savings Account, which pays an inflation-beating rate of between 3.05% and 3.65% AER (variable), depending on which tier of Plum you sign up for.
If you’re able to lock your money away for a few months in order to get a better rate, the 95 Day Notice Pocket pays 3.87% AER (variable).
Looking to avoid paying tax on your savings interest? Plum’s Cash ISA pays a cracking rate of 4.71% AER (variable, effective from 18/09/2026)*, while the Lifetime ISA has a competitive rate of 4.44% AER (variable, effective from 11/09/2026)**.
If you’re looking to invest, you can put your money in 26+ mutual funds and more than 3,000 individual stocks. There’s also a Plum Stocks and Shares ISA to help you avoid tax on your returns and a Self-Invested Personal Pension for those looking to save for retirement.
Please note that investments carry an element of risk and the value can go up or down. While Plum offers investment products, it doesn’t offer advice and you should consider seeking financial advice before making your own investment decisions.
*Rate includes a Plum bonus of 2.17% AER (variable) if kept for 12 consecutive months and other conditions are met. After 12 months, the rate will be 2.54% AER (variable).
**The 4.44% AER (variable) includes a Plum bonus of 1.33% AER (variable) if you meet all eligibility conditions for the full 12 months. After 12 months, the rate will be 3.11% AER (variable).
How much will Plum cost me?
Now that you know about the main benefits of signing up to Plum, let’s talk about how much it’ll cost you.
As mentioned earlier, Plum has split its offering up into four different subscriptions, or tiers, to help you choose the one that best suits your needs.
These range from the free Basic plan, which offers limited access to Plum’s great products and services, to the £14.99 monthly Max plan, which gives you complete access.
To find out more about which tier is right for you, visit this Plum page and get started working towards your money goals.