Saving acc no interest

akkers

I want to save an amount every month but I dont want any interest.

Do I just get a current account? Or are there any saving accounts out there that reward you differently without interest coming into it?

la531983

OK, I will bite - why dont you want interest? If its because it takes you over the tax threshold you are still better off with a %age of the interest than no interest at all!

Albermarle

OK, I will bite - why dont you want interest?

Of all the thousands of threads I have read on these forums, that is the first time anybody has ever asked that !
Not very MSE   

eskbanker

akkers said:

I want to save an amount every month but I dont want any interest.

As above, an unusual request but is it perhaps religious reasons, where Sharia-compliant accounts are available to circumvent the relevant stipulations?

exel1966

akkers said:

I want to save an amount every month but I dont want any interest.

Do I just get a current account? Or are there any saving accounts out there that reward you differently without interest coming into it?

Get a Piggy Bank !

wmb194

akkers said:

I want to save an amount every month but I dont want any interest.

Do I just get a current account? Or are there any saving accounts out there that reward you differently without interest coming into it?

Premium Bonds. Deposit up to £50k, pays tax free prizes but no guarantee you'll win.

Andystriker

akkers said:

I want to save an amount every month but I dont want any interest.

Do I just get a current account? Or are there any saving accounts out there that reward you differently without interest coming into it?

If you give me the money, I will not pay you any interest. I will promise to give it you back one day!

akkers

As curious as it may seem but I don’t want interest due to religious reasons. I just want a safe place to save with scam/hack protection. If there can be rewards that may be acceptable. 

eskbanker

akkers said:

As curious as it may seem but I don’t want interest due to religious reasons. I just want a safe place to save with scam/hack protection. If there can be rewards that may be acceptable. 

As above, there are savings accounts structured to pay 'expected profit' instead of interest, a section of the market specifically set up to accommodate religious reasons:

https://moneyfactscompare.co.uk/savings-accounts/shariah-compliant-savings-accounts/ explains....

Albermarle

akkers said:

As curious as it may seem but I don’t want interest due to religious reasons. I just want a safe place to save with scam/hack protection. If there can be rewards that may be acceptable. 

Maybe this is what you are looking for .

Shari’ah-Compliant Savings Accounts | April 2025

grumpy_codger

wmb194 said:

akkers said:

I want to save an amount every month but I dont want any interest.

Do I just get a current account? Or are there any saving accounts out there that reward you differently without interest coming into it?

Premium Bonds. Deposit up to £50k, pays tax free prizes but no guarantee you'll win.

That's gambling, not allowed by sharia either. Possibly depends on your interpretation - letter of the law or the spirit of the law.
Essentially you gamble your interest.
That said, IMO, many (most?) sharia-compliant accounts simply bend the letter of the law, ignoring the spirit.