Student Savings Accounts
When deciding which of the student savings accounts on the market to go for, it is worth comparing a number of the leading high street and online banks in order to find the best deal. There are a great number of providers on the market, so to get the most out of your money make sure you shop around.
Some things to consider when comparing student savings accounts include:
- Interest rate – find the highest interest rate possible so you get the most out of your money
- ISAs – Individual savings accounts are tax-free and have higher interest rates than standard savings accounts. Make sure you get one which allows instant access and does not lock your money away
- Transfer your over-draft – it is possible to make money from interest-free overdrafts by transferring the money into a high-interest savings account; however, this would not be advisable if you need your overdraft for living expenses or have a poor track record for managing your finances effectively
Savings accounts vary in the way that interest is paid – monthly or annually – and how easily accessible it is. Compare savings accounts from a number of providers to make sure you find the right student savings account for you that offers a competitive interest rate and allows you access to your money when you need it most.
|Provider||Plan Name||Deposit Taker||ISA Option||Term||Maximum Potential Return||More Info|
|FTSE 100 Kick Out Deposit Plan||Investec Bank plc||Up to|
|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 6% times the number of years the plan has been in force. Also available for Cash ISA and ISA transfer.|