Savings Accounts provide a safe place for savers to store their cash, while making money through interest on savings. With such a vast field of competition, there are some great deals to be had on
deposit accounts offering very attractive rates, as well as exclusive benefits and features designed for a whole range of needs.
Most people will compare providers to find the highest interest on savings, which can be increased through opting to lock your cash away in a
Fixed Rate Bond for a fixed period of time without making any withdrawals for the specified term. This will suit some savers, but many will require instant access to their funds, in which case a regular savings account would be more suitable.
The government also allows individuals to save up to £7,200 each year in Cash and Stocks & Shares ISAs (up to £3,600 into
cash ISAs). This allows savers to earn tax free interest on savings, which means your money will grow faster.