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This comparison simply includes all savings accounts.

Chip
Instant Access Account Chip
Min deposit £1
Term Instant Access
Interest AER 4.84%

Why we like it: A new savings account from Chip built to move with the Bank of England and reward you faster than the banks. Interest paid monthly. Deposit and withdraw almost instantly. No fees or charges for holding account. FSCS eligible on your deposits. Must be UK resident. Must be aged 18 or older.

Yorkshire Building Society
Easy Access Saver Yorkshire Building Society
Min deposit £1
Term Instant Access
Interest AER 4.80%

Why we like it: Save from £1. Unlimited payments and withdrawals. Interest paid annually. Open in a single or a joint name. Maximum deposit £500,000. Open and manage account online. FSCS Protected. Must be UK resident. Must be aged 16 or older

Post Office
Online Saver Account Post Office
Min deposit £1
Term Instant Access
Interest AER 4.75%

Why we like it: Choose monthly or annual interest payments. Unlimited deposits and withdrawals. 24/7 access to your savings. Open and manage online. After 12 months the rate will revert to the underlying rate, currently 1.55% gross/AER variable. Post Office Online Saver is provided by Bank of Ireland UK. Must be UK resident. Must be aged 18 or older. FSCS protected

RCI Bank
Freedom Savings Account RCI Bank
Min deposit £100
Term Instant Access
Interest AER 4.75%

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)

Investec Savings
Online Flexi Saver Investec Savings
Min deposit £5000
Term Instant Access
Interest AER 4.70%

Why we like it: Instant access to your savings. Unlimited deposits and withdrawals. Interest paid monthly, either to a linked current account, or adding it to your Online Flexi Saver account. Easy application process, you just need a UK mobile phone and UK driving licence or passport. Manage account online. Maximum balance £250,000. Must be aged 18 or older and have a UK address. Must have a linked UK current account. Your eligible deposits with Investec Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)

RCI Bank
E-Volve 14 Day Notice Account RCI Bank
Min deposit £1000
Term 14 Day Notice
Interest AER 4.80%

Why we like it: All funds deposited into the RCI Bank E-Volve Savings 14 Day Notice Account will be used to fund pure electric vehicles and charging facilities. Interest paid monthly or annually. Manage account online. UK-based support, seven days a week. Which? Recommended Savings Provider. Unlimited withdrawals subject to 14 days notice. Must be UK resident. Must be aged 18 or older. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)

Investec Savings
90 Day Notice Account Investec Savings
Min deposit £5000
Term 90 Day Notice
Interest AER 5.25%

Why we like it: Unlimited deposits and withdrawals. Interest paid monthly: can be added to your Notice Saver or paid to your linked account. Easy application process, you just need a UK mobile phone and UK driving licence or passport. Manage account online. Maximum balance £250,000. Withdrawals subject to 90 days notice. Must be aged 18 or older and have a UK address. Must have a linked UK current account

Aldermore
Fixed Rate Bond Aldermore
Min deposit £1000
Term 9 Months
Interest AER 5.05%

Why we like it: 9 month term, minimum deposit £1,000, no withdrawals permitted. FSCS Protected

Aldermore
Fixed Rate Bond Aldermore
Min deposit £1000
Term 1 Year
Interest AER 5.11%

Why we like it: 1 year term, minimum deposit £1,000, no withdrawals permitted. FSCS Protected

Aldermore
Fixed Rate Bond Aldermore
Min deposit £1000
Term 18 Months
Interest AER 4.65%

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

RCI Bank
Fixed Rate Bond RCI Bank
Min deposit £1000
Term 2 Years
Interest AER 5.05%

Why we like it: MARKET LEADING 2 YEAR FIXED RATE BOND. Which? Recommended Savings Provider. Save from £1,000 to £250,000. 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 3 Years
Interest AER 4.70%

Why we like it: MARKET LEADING 3 YEAR FIXED RATE BOND. Which? Recommended Savings Provider. Save from £1,000 to £250,000. 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)

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Which is the right savings account for you?

  • How much do you have in savings?
  • What level of interest would you like to earn?
  • What level of risk are you willing to take with your savings?
  • Are you likely to need your savings in the near future?

Current Accounts:

Current accounts often pay some of the highest interest rates on the market and so it is a good idea to keep some of your savings in your current account to get the best overall rate of return.

Current accounts usually have a fairly low threshold above which they pay no interest, so if you have significant savings you will likely need to find another option for the balance to avoid missing out.

Easy Access Savings Accounts:

Easy access savings accounts come with variable interest rates and allow you to add or withdraw money whenever you like. They don’t necessarily pay the most competitive rates, but are great for those who want the option to save with flexibility. They usually pay interest on much larger balances than current accounts.

Notice Savings Accounts:

Similar to easy access savings accounts, except that they usually offer slightly better interest rates in exchange for you having to give the bank a set amount of notice before withdrawing funds. Notice periods vary, but 30, 60, 90 and 120 days are common.

Fixed Rate Bonds:

Fixed rate bonds offer guaranteed rates of interest in exchange for agreeing not to touch your savings for a set period. They usually last for 1, 2, 3 or 5 years and some will allow you to withdraw your money early in exchange for a penalty fee.

ISAs:

ISAs allow you to earn interest on your savings tax free on deposits up to a threshold decided each year by the UK government. For the 2017/2018 tax year, the limit is £20,000. There are various types of ISAs, including those offering both fixed and variable rates, plus various specialist ISAs.





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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.