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This comparison simply includes all savings accounts.

Post Office
Online Saver Post Office
Min deposit £1
Term Instant Access
Interest AER 1.22%

Why we like it: REGULAR SAVER, LOWEST MINIMUM. Earn 1.22% gross/AER variable. Open with £1. Unlimited free withdrawals. Interest paid monthly or annually. Manage your account online. FSCS protected

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.

Ford Money
Flexible Saver Ford Money
Min deposit £1
Term Instant Access
Interest AER 1.17%

Why we like it: Open with £1. Unlimited deposits and withdrawals. Open an account singly or jointly. Interest can be paid monthly or annually. Eligible deposits covered by UK FSCS.

The Access Bank UK
Fixed Rate Bond The Access Bank UK
Min deposit £5000
Term 1 Year
Interest AER 1.80%

Why we like it: Save from £5,000 to £500,000. No additional deposits or withdrawals permitted. FSCS Protected

Ford Money
Fixed Saver Ford Money
Min deposit £500
Term 1 Year
Gross AER 1.70%

Why we like it: Minimum deposit £500. Open an account singly or jointly. Interest can be paid monthly or annually. Eligible deposits covered by UK FSCS.

The Access Bank UK
Fixed Rate Bond The Access Bank UK
Min deposit £5000
Term 2 Years
Interest AER 2.05%

Why we like it: Save from £5,000 to £500,000. No additional deposits or withdrawals permitted. FSCS Protected

Ford Money
Fixed Saver Ford Money
Min deposit £500
Term 2 Years
Gross AER 1.85%

Why we like it: Minimum deposit £500. Open an account singly or jointly. Interest can be paid monthly or annually. Eligible deposits covered by UK FSCS.

Masthaven Bank
Flexible Term Saver Masthaven Bank
Min deposit £500
Term 30 Months
Interest AER 1.85%

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

The Access Bank UK
Fixed Rate Bond The Access Bank UK
Min deposit £5000
Term 3 Years
Interest AER 2.25%

Why we like it: Save from £5,000 to £500,000. No additional deposits or withdrawals permitted. FSCS Protected

Masthaven Bank
Flexible Term Saver Masthaven Bank
Min deposit £500
Term 4 Years
Interest AER 2.23%

Why we like it: 4 year term. Interest can be paid monthly or annually. Minimum deposit £500, Maximum deposit £250,000. No withdrawals permitted. FSCS Protected

Masthaven Bank
Fixed Rate Bond Masthaven Bank
Min deposit £500
Term 5 Years
Interest AER 2.30%

Why we like it: 5 year term. Interest can be paid monthly or annually. Minimum deposit £500, Maximum deposit £250,000. No withdrawals permitted. FSCS Protected

Compare Birmingham Midshires savings accounts

Part of the Lloyds Banking Group, Birmingham Midshires are specialist providers of financial products for savings and mortgages. They offer a number of savings accounts for customers to choose from. Finding the best match for your savings needs can be tough, so it’s important to make sure you have a thorough understand of the different options on offer.

Instant Access Savings Accounts

The most basic and easy to use kind of savings account, an instant access savings account (sometimes known as an easy access savings account) allows you to put money in and take money out whenever you like.

You will often be given a card to use at cash machines or otherwise you may have to go into a branch to take money out. You usually also have the option to make transfers online or over the phone. Some instant access savings accounts only allow you to make a limited number of withdrawals each year without paying a penalty.

Fixed Rate Bonds

If you have a lump sum that you have no immediate use for, locking it away for a set period in a fixed-rate savings bond can net you a good return. In exchange for agreeing not to touch your money for an agreed time (usually 1-5 years) you will get a guaranteed interest rate. These rates are usually attractive and will tend to be higher the longer you agree to lock you money away for.

If you do need to withdraw your funds early, some fixed rate bond providers will allow you to do this, but you will have to pay a penalty. This generally takes the form of an amount equivalent to a certain number of months’ interest.

Cash ISAs

If you are a UK tax payer it is often worth putting at least part of your savings into a cash ISA. These let you earn interest tax-free on a set amount each year. This amount is decided by the government and changes regularly. For the 2017/18 tax year it is £20,000.

The two most common types of ISAs are instant access cash ISAs and fixed rate cash ISAs. Instant access ISAs allow you to put in and take out money as often as you need to, whereas fixed rate ISAs act like fixed rate bonds. This means you get a guaranteed rate of return, but cannot access your money for the lifetime of the ISA.

Fixed rate cash ISAs offer better interest rates that instant access cash ISAs in most cases, although the rate on an instant access ISA is variable, so can go up as well as down.

Find the best Birmingham Midshires savings account for you

Everyone wants to get the best deal on their savings account, but with so many products and providers to select from, it can be hard to know where to start. Our savings account comparison tool (see the top of the page) allows you to look at some of the best deal from across the market side-by-side to see which is right for you. We make sure to keep these deals up-to-date, so make sure to check back in regularly for all the latest deals.

Latest news

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