A game-changing easy access savings account from Wombat that tracks the Bank of England base rate (minus up to 0.5%), not the market, guaranteeing faster returns
Unlock 4.91% AER (variable) paid daily
Easy access withdrawals once a month
Deposits protected up to £85k by the FSCS
4.6 - 750+ reviews
4.91%
AER Variable
No penalties, fees or notice periods
Deposit anytime up to £250k
No more endless account switching
Secure. Trusted. Award-winning.
Game-Changing Savings
Why choose Wombat’s Base Rate Tracker?
Highly competitive interest that adjusts automatically
Our interest rate moves with the Bank of England base rate, guaranteeing a fixed margin of up to 0.5% below, and adjusts the very next day
Get easy access to your funds
Relax knowing you can get easy access to your money with once a month withdrawals, without notice and without fees. Save up to £250,000 without locking your money away
Benefit from compounding with daily interest payments
Earn daily interest on your money, and experience the power of compounding to make your savings work harder
Free and easy to open
Open a free account in minutes with a minimum opening balance of £500 and optimise your cash’s earning potential with an interest rate that moves with the Bank of England base rate the very next day
T&Cs apply. Money is deposited with GB Bank
Potential Earnings
One app for effortless money management
Unlock an impressive 4.91% AER on your savings, and watch your money grow effortlessly
Wave goodbye to the constant cycle of account hopping and forget waiting for banks to pass on higher interest rates. Our Base Rate Tracker adjusts the very next day after any change in the Bank of England’s base rate, ensuring you always benefit from the latest rate moves.
Plus with daily interest payments, we’re also putting an end to the disappointing wait for annual interest payouts from high street banks
T&Cs apply
4.91% AER
variable
If you deposit
£
You could earn
+£
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For illustrative purposes only. It assumes that you don’t deposit or withdraw any money over 12 months, and that there was no change to the interest rate
Your savings are safe
Any funds you deposit in Wombat's Base Rate Tracker are deposited with GB Bank, a fully regulated and authorised UK bank.
So you can rest-assured knowing that deposits up to £85,000 per person, per banking group, are protected by the Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme.
What is Wombat's Base Rate Tracker savings account?
Interest rates are determined by the Bank of England base rate, which recently announced its 14th consecutive increase in August 2023, reaching its highest level since March 2008.
Usually, banks and savings providers decide whether and when to pass on any rate increases to savers, meaning you may not see any benefit at all. However, our Base Rate Tracker adjustswith the Bank of England base rate (minus up to 0.5%), the very next day, eliminating the need for endless switching.
Plus, our GB Bank Base Rate Tracker combines the advantages of a savings tracker with the convenience of an easy access account. No need to lock your savings away for extended periods, deposit anytime and enjoy once a month withdrawals, receive daily interest, and you're guaranteed to see your interest increase with any rise in the Bank of England base rate.
Innovative
Enjoy the benefits of a savings rate tracker with the convenience of an easy access account
Protected
Rest assured, your money is safeguarded by the Financial Services Compensation Scheme up to £85,000
Supportive
Experience exceptional UK-based customer support, there for you whenever you need it
How to open a Wombat Savings Account
Download Wombat
Over 300k happy individuals trust us to help them build wealth. Ready to join them?
Open your free savings account
Register, open a GB Bank Base Rate Tracker savings account, and link your bank. Simple
Start saving for your future
Deposit anytime up to £250k and watch your savings grow
T&Cs apply
Trusted by thousands
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Fantastic app, simple, quick and easy to understand with helpful customer service. Great for long term investors. Love the instant deposit feature.. Keep up the good work Wombat!
Start saving for your
dream holiday
first home
perfect wedding
retirement
new car
dream holiday
A refreshing way to save and invest
We've got accounts to suit all of your financial needs, and we're adding more all the time.
Add our base rate tracker to your overall financial strategy for ultimate diversification.
Balance security and convenience, with potentially higher-yielding investments to optimise your financial portfolio
T&Cs apply
Support
Frequently asked questions
What is Wombat’s GB Bank Base Rate Tracker?
Wombat’s GB Bank Base Rate Tracker is a free savings account that adjusts automatically with the Bank of England base rate, minus up to 0.5%, the very next day, eliminating the need for endless switching.
Our Base Rate Tracker also combines the advantages of a savings tracker with the convenience of an easy access account. So not only do you get a competitive interest rate whenever the base rate changes, but you also don’t need to fix your savings for extended periods, you can deposit as many times as you like from £50 (minimum opening balance of £500), and you can withdraw your money easily once per month.
You will receive daily interest, and you're guaranteed to see your interest increase with any rise in the base rate, so you don’t need to worry about switching for a competitive rate.
Who is GB Bank?
Wombat has partnered with GB Bank to bring you our Base Rate Tracker savings account.
GB Bank is an award-winning, fully authorised and regulated UK bank (FRN: 850286), dedicated to providing accessible and competitive savings accounts. Every penny saved with GB Bank contributes towards building better futures for the communities across the UK that need it most.
Any funds you deposit in Wombat's Base Rate Tracker are deposited with GB Bank (prior to depositing the money with GB Bank, money will briefly be held in an eMoney wallet in your name with Bondsmith), and are protected up to £85,000 by the Financial Services Compensation Scheme (FSCS). Any deposits you hold above the limit are unlikely to be covered. For further information, please view the FSCS Information Sheet on GBBank's website.
Is Wombat's GB Bank Base Rate Tracker free?
Yes, Wombat's GB Bank Base Rate Tracker is completely free.
How does the interest work on Wombat's GB Bank Base Rate Tracker, and how often is it paid?
The interest on your balance is calculated each day, and paid daily. The interest you receive on your savings in Wombat’s GB Bank Base Rate Tracker is determined by the Bank of England base rate, minus up to 0.5%, so if the base rate increases, your interest rate increases too. If it decreases, your interest rate will decrease too.
For example, if the Bank of England base rate was 5.25%, and your interest rate is the base rate less 0.5%, your interest rate with Wombat would be 4.75%. When the base rate changes, with our Base Rate Tracker, your interest automatically updates the very next day, meaning you will always get a competitive rate, without the need for endless account switching. It’s usually up to individual savings providers to decide whether and when to pass on this rate to savers, meaning you may not see any benefit at all with some providers.
With a 4.91% AER (assuming you didn’t deposit, withdraw, or the interest rate didn’t change) if you held £1,000 in your account over 12 months, you’d earn £49.10 in interest, meaning a total balance of £1,049.10 at the end of the year.
What does AER variable interest rate mean?
Variable interest rate means the interest rate you receive on your savings is not fixed and can change.
With some accounts, you might agree to lock your money away for a certain period of time, guaranteeing that you’ll receive a specific interest rate for the duration; these are known as fixed accounts. With a variable interest rate, the interest you receive fluctuates with the Bank of England base rate (so it can decrease or increase).
