The following are some examples of different accounts that may be of interest:
A fixed rate savings account will provide the account holder with a guaranteed rate of interest for the duration of the agreement. Although the rate of interest may not be quite as high as some other types of account, the benefits of having them fixed for a set period should not be underestimated.
Customers who are looking for a particularly flexible savings account may wish to consider one that is ‘instant access’. This account may be particularly suited to older customers who feel they may need to access their savings at short notice.
Older customers who are higher rate tax payers, may wish to consider an ISA account, as they may be able to save a significant amount of money that they may otherwise have been taxed on.
Customers may also wish to consider how regularly they will receive interest on money in their savings accounts. Most accounts that are offered to customers will have their interest paid annually; however, there are some providers who may pay interest on a monthly basis.
Make sure you take the time to utilise the comparison tables for savings account deals on this page.