Saving Bank Accounts
Saving Bank Accounts
If you want to open a savings bank account, then there are a lot of options to choose from. They vary in what they offer, such as interest rate, how often you pay into the account, how much you can pay in and how easily you can access your money. The different savings bank accounts available include:
- No Notice Accounts - Instant access to your money without having to give notice, sometimes incurs loss of interest for the month if you make a withdrawal and sometimes only a certain amount are allowed per year.
- Notice Accounts – Notice must be given before you are allowed access to your cash, but usually includes a slightly higher interest rate.
- Monthly Interest Accounts – Receive your interest monthly, if you make a withdrawal you may not receive interest for that month
- Regular Savings Accounts – Pay in a set amount each month by direct debit and in return get a higher interest rate than with stanrd accounts.
- Over 50s Accounts – Can include a bonus and offer a higher rate of interest.
- Children’s Accounts – Have higher interest rates than standard savings accounts, no minimum deposit required.
- Fixed Rate Accounts – Interest rate does not change with the Bank of England’s base rate, so you could benefit if the interest rate drops but lose out if it rises.
- Mini Cash ISAs – Have a minimum deposit from £1 and a maximum total amount of £7,600 (combination of investment and cash), can offer a higher interest rate than most standard savings accounts.
Before deciding which saving bank account to go for, compare deals and ensure you find the best one for your requirements and circumstances:
Alternatively click on savings accounts advertising links below: