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This comparison simply includes all savings accounts.

RCI Bank
Freedom Savings Account RCI Bank
Min deposit £100
Term Instant Access
Interest AER 1.42%

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

Notice Cash ISA Aldermore
Min deposit £1000
Term 30 Day Notice
Interest AER 1.30%

Why we like it: Unlimited withdrawals subject to 30 days notice.

Easy Access Account Aldermore
Min deposit £1000
Term Easy Access
Interest AER 1.25%

Why we like it: Earn 1.00% gross/AER on balances from £1,000 to £1 million. Unlimited withdrawals without restriction or loss of interest.

Wyelands Bank
Fixed Rate Bond Wyelands Bank
Min deposit £5000
Term 6 Months
Interest AER 1.60%

Why we like it: Save from £5,000. No withdrawals during the term. FSCS Protected

The Access Bank UK
Fixed Rate Bond The Access Bank UK
Min deposit £5000
Term 1 Year
Interest AER 1.95%

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

Fixed Rate Bond Aldermore
Min deposit £1000
Term 2 Years
Interest AER 2.25%

Why we like it: Minimum deposit £1,000 - No withdrawals permitted - FSCS Protected

Fixed Rate Bond Aldermore
Min deposit £1000
Term 3 Years
Interest AER 2.40%

Why we like it: Minimum deposit £1,000 - No withdrawals permitted - FSCS Protected

Fixed Rate Bond Aldermore
Min deposit £1000
Term 4 Years
Interest AER 2.45%

Why we like it: Minimum deposit £1,000 - No withdrawals permitted - FSCS Protected

Fixed Rate Bond Aldermore
Min deposit £1000
Term 5 Years
Interest AER 2.50%

Why we like it: Minimum deposit £1,000 - No withdrawals permitted - FSCS Protected

Compare First Direct savings accounts

First Direct is a UK retail bank that operates entirely over the phone and online. Their range of savings products include accounts suitable for a variety of different types of customers, so make sure to familiarise yourself with all of the options before making a decision.

Current Accounts

If you want the best interest rates on a smaller sum of money, keeping it in your current account can be a smart move. Current accounts generally offer very good returns up to a pre-agreed deposit limit, although if you exceed this limit you will likely earn nothing on your remaining balance.

Instant Access Savings Accounts

A simple type of savings account that lets you earn interest while still having instant access to your money if you need it. First Direct instant access savings accounts allow you to instantly transfer money to any other First Direct account over the phone or online. Transfers to other banks can take longer. There may also be a limit on how often you can take money out each year without paying a fee.

Regular Savings Accounts

Many savers want to tuck a little bit away each month and build up their capital over a longer period. Regular savings accounts are designed for this and generally offer good interest rates. The only issue to consider is that you will be likely to get little back out of the high interest rate until the funds in your account start to reach a significant level. This makes a regular savings account best suited to long term saving.

Fixed Rate Bonds

For larger lump sums, a fixed rate bond is often the best way to go. It lets you generate a guaranteed return on your money in exchange for locking it away for a fixed period (generally 1-5 years). The longer you can do without your money, the better interest rate you will usually earn.

Some providers will let you take money out of a fixed rate bond early, but you will typically have to pay a penalty for doing so. This is likely to be in the form of sacrificing some of your interest payments.

Cash ISAs

ISAs are one of the most popular ways of saving in the UK as they allow British tax payers to earn interest without paying tax on deposits up to a certain size. The deposit limit for ISAs is set by the UK government and is £20,000 for the 2017/18 tax year.

You can usually choose from two main sorts of cash ISA – instant access or fixed term. Fixed term ISAs offer guaranteed rates of interest for a set period, but you cannot use your money during that period. Instant access ISAs let you put in and take out money as necessary, but usually offer lower rates of interest which are variable so can move up and down over time.

Find the best First Direct savings account for you

Getting the right savings account can make a big difference to how much you get back when you eventually need to use the money you have put aside. Our savings account comparison tool lets you contrast the different factors, including the interest rates offered with various types of accounts. We keep the tool updated with all the best deals on savings accounts from across the industry, so make sure to visit us regularly so you don’t miss out.

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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