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This comparison simply includes all savings accounts.

Aldermore
Easy Access Account Aldermore
Min deposit £1000
Term Easy Access
Interest AER 0.5%

Why we like it: Balances from £1,000 to £1 million. Unlimited withdrawals without restriction or loss of interest. Eligible deposits covered by UK FSCS.

Nationwide
Triple Access Online Saver Nationwide
Min deposit £1
Term 1 Year, with three free withdrawals
Interest AER 0.5%

Why we like it: Make up to three withdrawals during the 12-month term of this account. Open with £1. Manage your account online. Interest paid at maturity. FSCS Protected. Must be UK resident and aged 16 or older. Make more than three withdrawals and the rate drops to 0.01% AER/gross p.a. (variable). Not available in branch

RCI Bank
Freedom Savings Account RCI Bank
Min deposit £100
Term Instant Access
Interest AER 0.4%

Why we like it: Which? Recommended Savings Provider. No notice period. Deposit from £100. Interest paid monthly or annually. Apply in minutes. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services. Compensation Scheme (FSCS)

RCI Bank
95 Day Notice Account RCI Bank
Min deposit £1000
Term 95 Day Notice
Interest AER 0.45%

Why we like it: Unlimited withdrawals subject to 95 days notice.

The Access Bank UK
Fixed Rate Bond The Access Bank UK
Min deposit £5000
Term 1 Year
Interest AER 0.59%

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

The Access Bank UK
Fixed Rate Bond The Access Bank UK
Min deposit £5000
Term 2 Years
Interest AER 0.7%

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

The Access Bank UK
Fixed Rate Bond The Access Bank UK
Min deposit £5000
Term 3 Years
Interest AER 0.8%

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

RCI Bank
Fixed Rate Bond RCI Bank
Min deposit £1000
Term 4 Years
Interest AER 0.9%

Why we like it: Which? Recommended Savings Provider. Save from £1,000 to £1,000,000. No withdrawals before the end of the term. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)

RCI Bank
Fixed Rate Bond RCI Bank
Min deposit £1000
Term 5 Years
Interest AER 0.95%

Why we like it: Which? Recommended Savings Provider. Save from £1,000 to £1,000,000. No withdrawals before the end of the term. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)

Santander
Everyday Current Account Santander
Open With £1
Account Type Current Account
Features Fee FREE Account Earn up to 15% cashback

Why we like it: No minimum monthly funding or monthly fee to maintain the account. Earn up to 15% cashback with Retailer Offers. Stress-free account switching in 7 days with the Current Account Switch Service. £300 ATM withdrawal per day, Arranged Overdraft facility (subject to status). Online and Mobile Banking with text and email alerts. Must be 18 or older and live in the UK permanently. 39.94% EAR overdraft charge. Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000

Nationwide
FlexDirect Current Account Nationwide
Open With £1000
Account Type Current Account
Features 2% AER Interest (T&Cs)* Fee Free Account

Why we like it: *2.00% interest for 12 months on balances up to £1,500 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. Access to Flexclusives - Select Credit Card and low personal loan rate. Must be aged 18 or older

Santander
123 Current Account Santander
Open With £500
Account Type Current Account
Features For Children 18 or younger 13 3% AER Interest (T&Cs)

Why we like it: Earn 0.30% AER (variable) interest on balances up to a maximum of £20,000. Up to 3% CASHBACK on various household bills. Monthly fee of £5. Cashback capped at £5 for each cashback tier each month. Must pay in £500 pm.

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Compare Halifax savings accounts

Choosing a savings account can make a big difference to how much you end up getting out of the money you put away. How much you have to save, how long you want to save for and what kind of return you would like to see will all have a big impact on your choice.

To make sure you get the best deal possible, it’s important to know all of the options available to you.

Current Accounts

For smaller amounts of money, a current account will often give the best return as they tend to have attractive interest rates, but only up to a certain deposit.

If your savings go over the interest-paying limit, you will likely be better moving the excess to a different kind of account so you can maximise the amount of money you are getting back.

Instant Access Savings Accounts

An instant access account is one of the most basic types of savings accounts. It allows you to put in and take out money whenever you need. You may even be given a cash card that allows you to withdraw money from cash points.

Most instant access savings accounts come with online and telephone banking, allowing you to make instant transfers when you need to. There may, however, be a limit on how many withdrawals and transfers you can make each year.

Regular Savings Accounts

Putting away a small amount consistently each money can allow you to build up significant savings over time. Regular savings accounts are designed for this approach and they tend to offer good interest rates, as long as you can commit to making a minimum deposit each month.

The downside with this kind of account is that it can take a long time to build up your capital, so you won’t initially see much benefit from the high interest rate. There is also normally a maximum monthly deposit, preventing you from increasing your monthly deposits too much if you later find yourself with more money to spare.

Fixed Rate Bonds

If you want a reliable return on your money, fixed rate bonds can be very appealing. They offer a guaranteed interest rate for a fixed period (usually 1-5 years). The trade-off is that you cannot normally make any additional deposits or take any money out until the fixed period ends.

Generally speaking, the longer the bond lasts, the better interest rate you will receive. If you haven’t already used your ISA allowance, it may be worth putting at least part of your savings into a fixed rate ISA instead (see below).

Cash ISAs

UK taxpayers can minimise the tax they pay on the interest earned from their savings by placing them into a cash ISA. There is a limit on how much you can place in an ISA which is decided each year by the government. For the 2017/18 tax year it is £20,000.

The most common form of ISAs are instant access and fixed term (also known as fixed rate). An instant access cash ISA allows you to put money in and withdraw it when you want to, and they will usually offer a variable rate of interest. A fixed term ISA works like a fixed rate bond, giving you a guaranteed interest rate for the life of the ISA.

In general, fixed term ISAs offer better interest rates, although overall ISAs do not necessarily give the best rates. This means it is important to judge how much you will save in tax versus how much extra interest you could earn from an alternative account.

Find the best Halifax savings account for you

Halifax are just one amongst a whole range of different providers offering savings accounts. Knowing where to find the best deal can be difficult, which is why we offer a savings account comparison tool (found at the top of this page).

This tool allows you to compare all of the best deals on savings accounts from across the market so you can make an informed decision that is right for you.

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