Bank Interest Rates
Bank Interest Rates
Bank interest rates vary considerably, depending on which product you go for. Most banks offer a fairly competitive interest rate on their current accounts, but offer far better rates on their savings products. Generally speaking, the more restrictions there are surrounding an account, the better the bank interest rates attached to it will be. The best bank interest rates tend to be attached to:
- Fixed rate savings accounts/ Guaranteed Bonds: carry a fixed rate for a fixed period, so you know exactly how much your money will earn at account maturity, providing you do not make any payments or withdrawals before the period is up.
- Regular Payments savings accounts: Banks offer high bank interest rates provided you make regular monthly payments into the account.
- Cash ISAs: save up to £3,000 per tax year and benefit from tax free savings – no tax paid on any interest earned from the account.
If you choose an instant access account, you will have good flexibility - instant access to your cash and no notice period or penalty for withdrawals, payments or transfers, but will be given a less competitive rate.
Compare Online Banking Deals »
Alternatively click on Bank Interest Rates advertising links below: