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Best Savings Rates

Despite current low interest rates, it is now more important than ever to make sure your savings are giving you the biggest yield that they possibly can. This means searching for the best savings rates and accounts for the most competitive interest rates, but with so much choice on the market just deciphering the information can be an enormous task.

Independentfinancialadvisor.co.uk has searched across the broad market for the best savings rates and accounts on your behalf, saving you both time and money.

Choosing The Best Savings Rates

Firstly, in order to choose the best saving rates will you need to decide on which type of savings account is suitable for your circumstances. Each different account type will have varying terms and conditions and as a result interest rates will vary accordingly. For instance, a basic current account may be best for short term saving as it allows instant access to your money but will often offer a low interest rate. On the other hand, a savings account or bond may offer a better interest rate but there may be restricted access to your money. Alternatively, an ISA may offer a low interest rate but on a tax free basis. In addition to this you will also need to consider the impact of fixed or variable rates which your account may work on.

Remember, negotiating the best saving rates is just the start. New account deals are regularly introduced or discontinued and interest rates are constantly fluctuating. Because of this it is important to regularly review your rates and charges. In some cases it may be more lucrative for you to switch accounts in order to still get the best savings rates.

Seeking professional advice may help you understand the different types of savings accounts available. Consult our comparison table below or alternatively, speak to a member of our partner's independent savings advice team.

 

Current Accounts Savings Accounts Fixed Rate Bonds Cash ISAs

 

Provider Account Rate More Info
Nationwide MySave Online Plus 3.12%
AER
1.58% Gross p.a. bonus fixed for 12 months. One free withdrawal per year. Flexibility for additional withdrawals.
ING Direct ING Direct Savings Account 3.10%
AER Variable
New customers can enjoy a rate of 3.10% AER inc a 12 month fixed bonus of 2.56%. Max balance applies. Open in as little as 10 mins - easy access - someone new joins every 20 seconds.
Halifax Online Saver 2.80%
Gross / AER
Instant access, minimum deposit of £1. Access your savings 24/7/365
Halifax Reward Saver 2.50%
Gross / AER
Instant access, minimum deposit of £1. Access your savings 24/7/365
Intelligent Finance Intelligent Finance iSaver 2.49%
Gross / p.a.
An online rate of 2.49% AER annually. Manage your savings online. A simple product with no short term bonus or withdrawal restrictions.
Lloyds TSB International Lloyds International Bonus Saver 2.00%
Gross / p.a.
Instant Access, up to 2.01% AER (variable) with bonus. Sterling, Euro or Dollar.
RBS RBS Direct Saver 1.50%
Gross / p.a.
Save over 50K and receive 1.5%. Interests rates vary for smaller amounts.
Natwest Natwest e-Savings 1.00%
Gross / AER
Offers a rewarding rate of 1.00% AER / Gross (variable) no matter how much you save.
HSBC Online Bonus Saver 0.75%
Gross / p.a.
Variable rate of 0.75% AER (0.75% gross including bonus interest) when you don't make a withdrawal.

 

The products contained in this table are a sample of those that were available at the time of publishing. The table does not include all of the products availble and those seleted are not necessarily a representative sample of the whole market. Furthermore they do not constitute either the cheapest or most suitable products available and we recommend that you seek independent financial advice before making any changes to your financial affairs


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