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This comparison simply includes all savings accounts.

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.

Habib Bank Zurich
Fixed Rate Bond Habib Bank Zurich
Min deposit £1000
Term 1 Year
Interest AER 1.85%

Why we like it: Minimum deposit £1000. No withdrawals permitted. Apply online. Eligible deposits covered by UK FSCS.

Masthaven Bank
Flexible Term Saver Masthaven Bank
Min deposit £500
Term 30 Months
Interest AER 2.11%

Why we like it: 30 month term. Interest can be paid monthly or annually. Minimum deposit £500, Maximum deposit £250,000. 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.

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.

Fixed Rate Bond Vanquis
Min deposit £1000
Term 5 Years
Interest AER 2.70%

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

Compare Bank of Cyprus savings accounts

Below are some of the best savings options on offer from the Bank of Cyprus

Current Accounts

High street banks have increased their current account interest rates to entice more customers to switch accounts. However, the current accounts usually have a low threshold over which interest is not paid.

If your savings goes over the interest-paying threshold, you might want to deposit the excess capital into another savings account.

The Bank of Cyprus currently offer a euro online current account, which provides competitive interest but is only available for euros.

Instant Access Savings Accounts

If you want to obtain competitive interest, as well as the ability to withdraw from you savings, an instant access account could be the best option for you.

The instant access account from the Bank of Cyprus offers comparatively high interest as well as access to your savings. Unlike their current account, it is possible to deposit sterling into their instant access account.  

Easy Access Savings Accounts

Easy access accounts are usually more or less identical to instant access accounts, except there may be a delay when you want to make a withdrawal from your savings.

The Bank of Cyprus has an online easy access account, which allows you to earn a high rate of interest on your savings and enables you to withdraw from your savings online.

It should be noted that the high interest rate is only available for the first 12 months and reverts back to a much lower underlying interest rate thereafter.  

Notice Savings Accounts

On the whole, notice savings accounts have higher interest rates than run of the mill savings accounts. However, in exchange for higher interest, you have to give a certain amount of notice before removing funds, which can be between 40 and 95 days.

The notice account from the Bank of Cyprus offers slightly lower interest than their easy and instant access accounts, but the interest will not dramatically drop after the first year.

Fixed Rate Bonds

Fixed rate bonds often provide attractive rates of interest, which do not change over the course of the bond. Although the interest rates are higher than the majority of other savings options, you cannot withdraw from a fixed rate bond without a significant penalty.  

The Bank of Cyprus provide two different fixed rate products: fixed rate bonds and flexibonds.

Their fixed rate bond runs from between 1 and 3 years with their highest rate of interest. Their flexibond offers a medium rate of interest and the ability to withdraw a certain percentage from your savings, giving you more freedom with your capital.

Cash ISAs

If you have a substantial amount of savings and you are looking to benefit from £20,000 tax-free interest ISA allowance, you could explore the ISAs the Bank of Cyprus have on offer.

The Cash ISA from the Bank of Cyprus offers the ability to withdraw from your savings and earn tax-free interest, in exchange for a lower interest rate than their other products.

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