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This comparison simply includes all savings accounts.

Nationwide
FlexDirect Current Account Nationwide
Open With £1000
Account Type Current Account
Interest AER 5.00%

Why we like it: 5.00% interest for 12 months on balances up to £2,500 for the first year. You must pay in £1,000 or more each month to receive interest (excluding transfers from any Nationwide account held by you or anyone else). 12 month fee-free arranged overdraft available. No monthly fee. Must be aged 18 or older.

RCI Bank
Freedom Savings Account RCI Bank
Min deposit £100
Term Instant Access
Interest AER 1.30%

Why we like it: MARKET LEADING RATE. No notice period. Deposit from £100. Interest paid monthly or annually. Apply in minutes.

AA Savings
Easy Saver AA Savings
Min deposit £100
Term Instant Access
Interest AER 1.15%

Why we like it: Free withdrawals and no notice period. Deposit from £100. Includes a fixed bonus of 0.95% gross fixed for the first 12 months. Quick and easy online application

Oak North
Fixed Rate Bond Oak North
Min deposit £1000
Term 12 Months
Interest AER 1.87%

Why we like it: £1,000 minimum deposit, £250,000 maximum. Interest paid on maturity. No withdrawals permitted. FSCS Protected

Oak North
Fixed Rate Bond Oak North
Min deposit £1000
Term 18 Months
Interest AER 1.95%

Why we like it: £1,000 minimum deposit, £250,000 maximum. Interest paid on maturity. No withdrawals permitted. FSCS Protected

Oak North
Fixed Rate Bond Oak North
Min deposit £1000
Term 24 Months
Interest AER 2.14%

Why we like it: £1,000 minimum deposit, £250,000 maximum. Interest paid on maturity. No withdrawals permitted. FSCS Protected

Oak North
Fixed Rate Bond Oak North
Min deposit £1000
Term 30 Months
Interest AER 2.16%

Why we like it: £1,000 minimum deposit, £250,000 maximum. Interest paid on maturity. No withdrawals permitted. FSCS Protected

RCI Bank
Fixed Rate Bond RCI Bank
Min deposit £1000
Term 3 Years
Interest AER 2.31%

Why we like it: Save from £1,000 to £1,000,000. No withdrawals before the end of the term. RCI Bank are protected up to a total of €100,000 by the FGDR (Fonds de Garantie Dépôts et de Résolution), the French deposit protection scheme. Apply online.

Vanquis
Fixed Rate Bond Vanquis
Min deposit £1000
Term 4 Years
Interest AER 2.52%

Why we like it: Minimum deposit £1,000. Interest paid monthly or annually. Apply online. Eligible deposits covered by UK FSCS.

Vanquis
Fixed Rate Bond Vanquis
Min deposit £1000
Term 5 Years
Interest AER 2.66%

Why we like it: Minimum deposit £1,000. Interest paid monthly or annually. Apply online. Eligible deposits covered by UK FSCS.

Scottish Widows Fixed Rate ISA

There are a range of cash ISAs available at the moment each offering a competitive rate of interest.

Many people are opting for current accounts in order to maximise their savings, particularly since the new PSA (Personal Savings Allowance) has allowed lower rate tax payers to save up to £1000 tax-free and higher rate tax payers up to £500.

However, there are still some great options for savers who’d like to put away more money than the current accounts will pay interest on.

It’s also important to remember that ISA allowance limits apply to everyone on an individual basis, so if you’re married or in a relationship, you can both hold your own ISA, each with the full allowance.

Scottish Widows offer a range of ISAs for both personal and non-personal use. If you have a charity or small organisation, then it’s worth checking out their fixed term accounts specially designed for this kind of saving. For personal use they have the E-Cash ISA3, which offers an online fixed term way to save. They offer one and two year fixed terms.

E-CASH ISA 3

Scottish Widow currently only offer an E-Cash ISA as a personal tax-free savings option that is operated via internet banking. The advantage of this is that you can manage your account 24 hours a day, 7 days a week.

Interest is calculated on a daily basis from the day the funds are cleared. It is applied twice a year on 1st  April and 1st October or yearly on 1st April, without tax deducted.

The minimum balance on this ISA is £10, which is a great alternative to a lot of ISAs that require a high minimum deposit of £1000.

They also offer:

  • Inward transfer of cash ISAs (previously known as mini cash ISAs), stocks & shares ISAs and innovative finance ISAs are accepted. To transfer in from another provider you need to complete the ISA transfer instruction form, which they provide
  • Telephone access to customer service team from 8am until 6pm weekdays
  • No hidden costs or charges
  • Able to invest on behalf of your children.

Paying into an ISA is called ‘subscribing’. You can subscribe to one of each type of ISA each tax year, providing you do not subscribe more than your annual ISA allowance. For the 2017/2018 tax year that runs from 6th April 2017 to 5th April 2018 your annual ISA allowance is £20,000.

The annual ISA limit can be found at www.gov.uk/individual-savings-accounts. This amount can be paid into a cash ISA, a stocks & shares ISA, an innovative finance ISA or a combination of the three.

Latest news

Pensioner Bond Maturity - 5 Ideas For Your Cash

From January 2018 over 900,000 people who invested in pensioner bonds will start to see their bonds mature. Savers who have been enjoying 4% pa are going to get a shock when they look for comparable returns from cash in the current market. We have put together 5 ideas for your cash in 2018

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About us

Simplysavingsaccounts.co.uk is a trading style of Fair Investment Company Ltd.

We've been comparing savings and current accounts for many years so you can trust you're in good hands.