Savings Interest Rates, Switch Offers and Guides for Kroo

Who they are

Kroo started life as B-Social before rebranding in 2020, and was granted a full banking licence by the Bank of England in 2022. It is a mobile-only neobank that operates without physical branches, providing app-based banking services exclusively to UK residents. The founding idea was straightforward: build a bank that actually works in your favour, with a conscience to match. Kroo is a certified B Corp, meaning its social and environmental performance is legally evaluated and must meet high standards. The bank also commits to planting two trees for each new customer.

On the current account side, Kroo offers a free, digital-only FSCS-protected current account with a monthly interest rate - a rare thing among UK banks. The rate tracks 1.10% below the Bank of England base rate, meaning every time the base rate changes, so does the interest you earn.

Savings accounts

Right now, the only dedicated savings product Kroo offers on DepositScout is a Flexible Cash ISA. It pays 3.00% AER variable and is available to open with just £1. Access is instant, so you can top up or withdraw whenever you need without penalties.

The Flexible Cash ISA is fully flexible - you can top up or withdraw whenever you need, with no penalties, and without affecting your £20,000 annual allowance. You can also transfer in existing ISA balances from other providers.

On protection, the ISA comes with elevated FSCS cover. As the DepositScout data confirms, eligible deposits are protected up to £120,000 by the FSCS - this is full FSCS protection, not just safeguarding of funds. That higher limit reflects Kroo's status as a fully authorised bank under its own licence, so there is no licence-sharing concern to flag here.

Is it right for you?

Kroo suits savers who want simplicity and flexibility. The Flexible Cash ISA asks for just £1 to get started, lets you dip in and out freely, and keeps your interest sheltered from tax. The rate is variable, so it will move over time - always check the live figure shown on this page for what it is today.

Kroo is less suitable for those who need joint accounts, business banking, international transfers, cashback, investments, or a wider product range. There are no fixed-term bonds or notice accounts here at present, so if you are chasing the very top rate and can lock money away, it is worth comparing elsewhere too.

As always, rates change - use the live figures on this page to see exactly what Kroo is offering right now and how it stacks up against the rest of the market.