Saving Accounts Interest Rates
Saving Accounts Interest Rates
The savings accounts interest rates offered by the different options available will vary depending on a number of factors. Accounts with higher restrictions on what you can do with your money generally have higher rates of interest, though this is not always the case. The savings accounts available include:
- Notice Accounts – Notice must be given before you are allowed access to your cash, but it usually includes a higher interest rate.
- No Notice Accounts - Instant access, can incur loss of interest for the month if you make a withdrawal, only a certain number allowed per year.
- Fixed Rate Accounts – Guaranteed interest rate, so you won’t lose out if the Bank of England base rate drops but will not benefit if it rises.
- Regular Savings Accounts – Pay in a set amount each month by direct debit and in return get a higher interest rate than with standard accounts, but limited access to your money.
- Internet Savings Accounts – Benefit from a higher rate of interest due to less administration and customer service costs for the bank.
- Monthly Interest Accounts – Receive your interest monthly, if you make a withdrawal you may not receive interest for that month.
- Children’s Accounts – Higher interest rates than standard savings accounts, no minimum deposit required.
- Over 50s Accounts – Can include a bonus and offer a higher rate of interest.
- Mini Cash ISAs – Minimum deposit of £1, maximum deposit of £7,600 (investment & cash) per tax year, higher interest rate than standard savings accounts.
Alternatively click on savings accounts advertising links below: