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This comparison simply includes all savings accounts.

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

Starling Bank
Mobile App Bank Account Starling Bank
Open With £0
Account Type Mobile Bank Account
Features Fee FREE Account Pays 0.05% AER

Why we like it: Free current account. Pays 0.05% AER interest on balances up to £85,000. Get set up in minutes. Send money abroad: Fast and secure money transfers to bank accounts in 38 countries worldwide. No fees when you pay with your card abroad or withdraw money. Get a spotlight on your spending: See what you’ve spent instantly with real-time payment notifications. 3 month interest holiday on the first £500 of an arranged overdraft. Best British Bank and Best Current Account in 2020 at the British Bank Awards. Awarded 5 stars by Defaqto. Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000

Cashplus
Personal Current Account Cashplus
Open With £0
Account Type Current Account
Features No Credit Checks Online App

Why we like it: A bank account that can build credit history. No credit check during sign up. Apply straight from your mobile. Instant online decision. Get your Contactless Debit Mastercard within 3-5 working days. Add Creditbuilder onto your account and it could help build your credit rating at no extra cost. Deposit cash into your account at any Post Office UK branch. Money is available in your account immediately. Manage your account 24/7 from any device with the banking app - get real time balance information, statements, add payees send payments and apply for extras. Automatic payment alerts. UK based Customer Services Team. Your money is protected up to £85,000 by the FSCS (Financial Services Compensation Scheme)

Santander
123 Mini Current Account Santander
Open With £0
Account Type Childrens Current Account
Features Children 18 or under 3% AER Interest (T&Cs)

Why we like it: Can be opened by or on behalf of any child up to the age of 18. Debit or cash card available for those aged between 13 and 18. Monthly interest. No monthly fee. For children under age 13, the account must be opened in trust and managed by an adult (trustee). If you’re aged between 13 and 18 years old and live permanently in the UK you can apply online by telephone or in branch. No overdraft facility. 1% interest on the entire balance once the balance is £100, 2.00% AER/1.98% gross (variable) on the entire balance once the balance is £1,500, 3.00% AER/2.96% gross (variable) on the entire balance once the balance is £1,500 or over (up to a maximum of £2,000). Bank is registered with the Financial Services Compensation Scheme (FSCS), so any money you keep will be fully protected, up to £85,000

Charter Savings Bank
Fixed Rate Bond Charter Savings Bank
Min deposit £1000
Term 1 Year
Interest AER 0.61%

Why we like it: Register for a free Raisin UK Account to apply for product. Interest paid on maturity. Maximum deposit £85,000. FSCS Protected. Must be UK resident and aged 18 or older. No withdrawals permitted

FCMB
Fixed Rate Bond FCMB
Min deposit £1000
Term 2 Years
Interest AER 0.88%

Why we like it: Register for a free Raisin UK Account to apply for product. Interest paid on maturity. Maximum deposit £85,000. FSCS Protected. Must be UK resident and aged 18 or older. No withdrawals permitted

FCMB
Fixed Rate Bond FCMB
Min deposit £1000
Term 3 Years
Interest AER 1.00%

Why we like it: Register for a free Raisin UK Account to apply for product. Interest paid on maturity. Maximum deposit £85,000. FSCS Protected. Must be UK resident and aged 18 or older. No withdrawals permitted

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
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)

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)

Aldermore
Easy Access Account Aldermore
Min deposit £1000
Term Easy Access
Interest AER 0.3%

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

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Is a 5 Year Fixed Rate Bond right for you?

5 year fixed rate bonds are aimed at customers who have no immediate need for their savings and generally offer much better rates of interest than shorter term bonds. They are also a great way to maintain the value of your savings relative to inflation.

Taking out a 5 year bond is a big commitment as you won’t be able to access your money for a long time. If you are concerned about locking up your funds for that long, a 1 year, 2 year or 3 year fixed rate bond could be an easier choice while still offering a decent return.

Is a Lifetime ISA right for you?

The lifetime ISA is designed to allow people aged between 18 and 40 year old to save for both the deposit on their first property as well as their retirement simultaneously. Also, if a saver withdraws the money contained in the account after their 60th birthday, or to purchase their first property they will receive a 25% bonus on their savings from the government which essentially means they could benefit from an extra £1 for every £4 they contribute to the ISA. In order to receive the 25% government bonus, savers have to use the money contained within the ISA either for the deposit on a property as a first time buyer or for withdraw it after their 60th birthday.

The account holder must also be considered a first time buyer which means they have never owned any kind of property before, whether in the UK or elsewhere, they also must be intending to use the house as their residence so buy to lets or other kinds of investment will not be suitable. From the age of 60 the account holder is free to make full or partial withdrawals from the account, for any purpose will still being able to benefit from the 25% bonus, funds are permitted to remain invested and any interest will be tax-free.

Savers under 60 years old will be able to make withdrawals for other reasons than property purchase however this will not receive the bonus or interest on their savings and will need to pay a 5% charge on the amount withdrawn.

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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.