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Savings Interest Rates

For whatever your saving reason, you'll want to make sure your hard earned money is working as hard as it can for you. To do this you'll not only need to find an appropriate saving account suitable for your needs, but you'll want to find the highest savings interest rates. With hundreds of providers offering different accounts it can get a little complicated.

Savings interest rates will vary depending on the savings account you apply for. There are a variety of different account types including:

  • Current Account: The most popular type of short term account due to the ease of access to your money. Best for small balances but will as a consequence have typically low saving interest rates.
  • Saving Account: More suitable for a larger surplus sum which has maybe accumulated in a current account. Will typically provide a higher savings interest rate than a standard current account but access can sometimes be restricted.
  • Bonds: Provide a guaranteed return over a fixed term. Your savings will be locked away during this term (anywhere between 1 to 10 years) but you will receive a steady income from potentially high savings interest rates. Good for long term saving as early withdrawal charges may apply.
  • ISAs: An account which earns tax free interest. Often ISAs have the most competitive savings interest rates although special terms apply.

Remember, once you've selected an account it's necessary to regularly review your rates and charges. This is particularly the case if you are on a special introductory rate and are about to switch to your lender's standard variable rate. Savings interest rates are constantly fluctuating and if another account offers a more competitive rate you could be missing out on a more lucrative return for your money.

Find the best savings interest rates and accounts suitable for your needs and circumstance by consulting our comparison table below. Need some assistance? Talk to an independent savings advisor for impartial advice regarding a wide range of saving accounts.

 

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 available 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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