Banking & Saving - Consumers 'should compare saving accounts on a regular basis'
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Latest News Consumers 'should compare saving accounts on a regular basis'
Consumers 'should compare saving accounts on a regular basis'
Taking the time to compare interest rates on saving accounts can help consumers ensure they are getting a good return on their money.
Britons wishing to compare savings accounts should seek out products that are convenient for them to access.Such is the advice of Neil Faulkner, where in a lovemoney.com article he points out that people should ensure their saving account">saving account allows them to manage their money in whatever way is best for them, whether it is online, over the telephone or in a bank branch.
He also points out that those seeking out an easy-access account should ensure they are getting the highest rate of return possible, with interest rates off at least three per cent currently on offer.
Taking the time to compare accounts every few months was also advised so that savers can be certain they will always be getting the best rate on their savings.
Such advice comes as a recent Abbey study revealed that an average of £198 is currently being tucked away into UK accounts each month, 21 per cent more than that which was being saved at the start of the year.
By Nate Sawyer
Monday, 21 December 2009 00:00
| Provider | AER | Notice | Interest Paid | Min Bal | Apply |
|---|---|---|---|---|---|
| View Full Table > | |||||
 |
Halifax Websaver Extra | ||||
|
2.80%
|
Instant
|
Annually
|
£1
|
||
 |
Tesco Internet Saver | ||||
|
2.75%
|
Instant
|
Annually
|
£1
|
||
 |
A&L Online Saver (Issue 7) | ||||
|
2.75%
|
Instant
|
Annually
|
£1,000
|
||
 |
ING Direct Savings Account | ||||
|
2.50%
|
Instant
|
Monthly
|
£1
|
||
 |
Egg Savings Account (Internet) | ||||
|
2.50%
|
Instant
|
Annually
|
£1
|
||
- 2.80% AER on Balances £1 - No maximum balance
- Withdrawals - 1 withdrawal a year with no loss of interest.
- Further withdrawals available should you need them however these will suffer 30 days loss of interest on the amount you withdraw.
- Access your money by transferring to another account online
- Interest paid annually
- You need to be a UK resident personal customers aged 11+
- YOUR SAVINGS ARE PROTECTED UP TO £50,000 BY THE FSCS - Financial Services Compensation Scheme
- Minimum Deposit £1
- 2.75% Gross/AER (variable) which includes a fixed 1.50% bonus for 12 months on balances up to £100k
- Balances over £100,000 earn 1.25% Gross / AER (variable)
- No withdrawal Restrictions
- Deposit & Withdraw money via online transfer
- SAVE from £1000 up to £2,000,000.
- Interest PAID annually.
- Rate includes variable bonus (depending on account balance) payable for 12 months from account opening.
- No withdrawal charges.
- Online account.
- Available to those aged 18 or over.
- New ING Direct Savings Account customers can enjoy a guaranteed rate of 2.5% AER for 12 months from account opening (2.47% gross p.a.)
- Interest paid monthly
- After 12 months the rate will revert to our ING Direct Savings Account variable rate, currently 0.50% AER
- Move your money when you like, with no penalties or restrictions
- Start saving from £1, with no minimum or maximum monthly deposits required
- Open an account in minutes
- Award winning UK call centres
- Get 2.50% gross pa/AER variable
- Includes an introductory 12 month variable bonus rate of 2.00% gross pa from the date your account is opened on balances up to £1,000,000.
- No interest payable on balances over £1,000,000 during the first 12 months.
- After 12 months you move to a standard variable rate; currently 0.5% gross pa/AER (variable).
- No penalties for withdrawals.
- Easy access 24 hours a day, every day.
- It's easy to set up a regular deposit, then sit back and watch your savings grow.
- YOUR SAVINGS ARE PROTECTED UP TO £50,000 BY THE FSCS - Financial Services Compensation Scheme
- Great return of 2.50% gross/AER (variable), which includes a bonus of 2.00% gross/AER (variable) for the first 12 months from account opening.
- Save from just £1
- 24/7 access to your money without notice or penalty - Cash Card with every account!
- Interest is calculated daily and paid Monthly
- YOUR SAVINGS ARE PROTECTED UP TO £50,000 BY THE FSCS - Financial Services Compensation Scheme
- Get 2.10% AER
- Get 6 free withdrawals per year - and only £1 per withdrawal thereafter
- Save £500 to £1million
- Interest is paid annually in March
- Post Office guarantee to pass on any rise in the Bank of England Base Rate (within 30 days) until January 2010
- Post Office also guarantee that your interest rate will never be more than 1% below the Bank of England Base Rate for the life of the account.
- YOUR SAVINGS ARE PROTECTED UP TO £50,000 BY THE FSCS - Financial Services Compensation Scheme
- Get 2.00% gross p.a./AER providing you don't make more than 3 withdrawals per year (more than this will result in a lower rate of interest).
- Save from £1 to £500,000
- If you ARE a Nationwide FlexAccount holder, you can set up a high interest internet savings account online
- If you are NOT a Nationwide FlexAccount holder, you WILL need to open a FlexAccount Online at the same time as opening your e-Savings Plus.
- A variable rate of interest, currently 1.60% AER/Gross.
- This rate includes a fixed introductory bonus of 1.50% AER for the first 12 months.
- On balances of £1 or more we agree to pay a gross annual interest rate which tracks at 1.5% below the Bank of England Base Rate until 31 December 2010 (but the rate will never be less than 0.10%).
- Open from as little as £1.
- Interest paid annually.
- Instant access - the convenience of Internet Banking or PhoneBank® means you can access your savings when it suits you.
- No limits on how much you can save.
- The options to have a standing order payment into your account, so you know your savings are always growing.
- Optional Cashpoint® card for easy access on the move.
- Minimum opening balance - £1
- No maximum balance
- Interest paid annually
- Unlimited withdrawals and deposits
- Manage your savings - Transfer money, view recent transactions and check your balance online 24/7 with this internet savings account
- Applying is easy - it only takes 5 minutes to apply online now
- You need to be a UK resident personal customers aged 11+
