Savings Maximiser

Oliver Roylance-Smith, Director

"With interest rates at an all time low in the UK it is more important than ever for savers to make the most from their cash.

 

Our Savings Maximiser Service minimizes the time you spend on looking for the best instant access deposit based savings deals and maximises the returns you recieve."

 

Oliver Roylance-Smith, Head of Savings & Investments
Savings Maximiser
ProviderAccountFeaturesIndicative Rate* (AER)Latest RatesApply
Instant AccessUp to
1.44%
FactsheetApply Now >
  • Savings service - *Indicative rate of interest highlighted
  • Competitive interest rates from leading UK banks and building societies
  • All money held in your name
  • Online Access
  • £25k minimum deposit
  • Service fee of £20 per month

* The indicative rate is not a guaranteed rate and reflects what we might achieve when we deposit your money in the Savings Maximiser service based on prevailing interest rates as at  05/04/2016. The indicative rate is based on an average rate across two UK bank accounts. The rate you achieve will be determined by the amount you deposit.

Cash ISA Selection
ProviderPlan NameDeposit TakerISA OptionTermMaximum Potential ReturnMore Info
Kick Out Deposit PlanInvestec Bank plcyesUp to
6 years

3%

per annum

More Info >
Capital protected deposit plan with the potential to mature after years 3, 4, 5 and 6. If the plan matures early it will return 3% times the number of years the plan has been in force. Also available for Cash ISA and ISA transfer.
Important Information: Structured deposits offer you the potential to earn higher returns than you would with a regular savings account. Your returns are based on the performance of an index or commodity. If the investment does not perform well you may receive no income or capital growth, but you can be confident that your capital will be repaid. You have no access to your deposit during the term of the account, typically 3 to 6 years but your original capital will be repaid in full at the end of the term. In the event that the deposit taker is unable to repay your initial investment and any returns stated you may be entitled to compensation from the Financial Services Compensation Scheme (FSCS) depending on your individual circumstances.

The Savings Landscape


All of us hold at least some of our wealth in cash and with the recent economic events around the world, it is easy to understand why there is a growing trend of people retaining their hard earned money in deposit based savings.

However, persistently low interest rates and the increase of the number of options available has created a challenging environment for savers at a time when making the most of the returns available from cash is more important than ever before.

 

Challenges We Face



There are a number of very real challenges that face us when considering what to do with our savings and how to go about it:

  • Choice - being able to access a wide enough range of competitive savings options

  • Research - comparing interest rates as well as considering financial security of the deposit taker and customer service record

  • Keeping up to date - checking interest rates on our savings remain competitive compared to the current market

  • Taking Action - switching savings to a better deal when a variable rate or bonus rate comes to an end

  • Protection - making sure you have a solid spread of FSCS eligible institutions

  • Paperwork - what to fill out and when and making sure it all goes smoothly

  • Customer service - enjoying a good customer service experience

  • Time - having enough time and energy to do all of the above

We have all been guilty of putting off till tomorrow that which needs to be done today, but unfortunately this type of inertia is all too common when addressing our savings and the impact of this over time can be significant.

 

Conclusion


The number of providers offering products and the wide range of rates available can make it difficult to stay on top. The result is that many savers have idle cash whose potential is being under utilised or cash that could work harder for them by switching to a more competitive rate.

It can also be very time consuming to keep your money in competitive accounts on an ongoing basis and there is also concern around keep your money safe as well as a desire to avoid all of the paperwork involved in opening and closing accounts.