Best
home for your money? Savings account, bank account or shoe box under the
bed. With interest rates so low savers are seeing the returns
on their money drastically reduced. Comparesavings accounts to discover the minimum
deposit rate, how much notice required to withdraw and most
important .... how muchinterest you get
on your savings
There are many different Savings Accounts and a number of
ways of accessing these, for example, by post, by telephone
or online.
The following types of accounts are:
Easy Access Accounts
Easy access accounts provide access to your savings instantly
or within a few days without a penalty. Due to this flexibility
a lower variable interest rate will be offered. These accounts
are particularly suitable as an emergency fund, providing
easy access, a way to start saving and some accounts offer
a cash card facility. A bonus scheme may be offered if the
numbers of withdrawals made
are within a specified limit, for example a maximum of 2 withdrawals
per annum. The minimum investment is normally £1. Compare
Easy Access Savings Accounts
Notice Accounts
Notice accounts generally pay higher rates of interest and
require notice to be given before withdrawals can be made,
typically 30, 60, or 90 days. Savings can sometimes be accessed
immediately subject to a withdrawal penalty. The interest
rate is variable and the minimum investment required is often
several hundred pounds. Compare
Notice Savings Accounts
Bond or Term Accounts
Bonds or term accounts will pay more competitive rates, they
require your investment to be tied up for a specific period
of time and withdrawals before the maturity date are often
not permitted. If withdrawals are permitted without notice
there will sometimes be penalty charges. The interest rate
is often fixed and the minimum investment is generally £1000
or more. Compare
Bond Savings Accounts
Regular Savers Accounts
These accounts are to encourage regular savings; they require
a commitment to invest each month. Many regular saver accounts
will not permit lump sum investments. Access to savings varies,
some accounts may provide instant access or require notice
and others may be fixed term. Generally regular saver accounts
place a restriction on the number of withdrawals allowed each
year. Interest rates are variable and a minimum and maximum
investment per month is sometimes stipulated, these vary from
between £10 - £20 min and £100 - £2000
max. Compare
Regular Savings Accounts
Children's Savings Accounts
Children's Accounts offer you the opportunity to invest your
child's money in a savings account that is easy to understand
and manage from your child's point of view. You can now encourage
your child to invest his/her pocket money, gift money and
any other cash received in one of these popular accounts,
and to benefit from earning interest on their savings balance.
The minimum investment is normally £1, and be sure to
enquire about the starter hamper, bonus gift, discount pack
or other starter offers available from the savings branch
upon successfully opening a new Children's Savings account.
Compare Childrens Savings Accounts
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