How to Get The Best Return From Your Savings Account
If you are lucky enough to have surplus cash each month or to have come into a windfall, you’ll want to ensure you get the best returns on any savings you put away. Finding the right savings account can be tricky especially with the sheer amount of choice available on the high street.
Let Save Money Online come to the rescue with our ‘at a glance’ comparisons. We bring you the very latest and very best savings accounts and advice that will ensure your money continues to grow whilst it’s safely tucked away.
Which Savings Account to Choose
When it comes to choosing a savings account you’ll need to answer a few questions first. Do you need to get access to your money in a hurry? Are you looking to invest thousands of pounds or simply put a little aside each month? Are you looking for a high interest account with a 30 day or more access restriction?
With so many savings products on the market right now it can be daunting when choosing the right one to suit your needs.
Spread Your Money and Spread the Risk
It's a good idea, if you are thinking of opening a number of accounts, to spread your savings across a number of providers. This is especially the case if you have a large amount of money to invest. The Financial Services Compensation Scheme only protects the first £50,000 held with a bank or building society.
Key things to check when choosing a savings account:
- Is there a minimum deposit? Many high interest accounts have conditions like this.
- Are there withdrawal restrictions? If you want to stop yourself from giving in to temptation, choose an account that requires notice in writing before a withdrawal can be made.
- Is there a short-term bonus? Many banks and building societies offer a short-term bonus to attract new investors.
Whether you opt for a cash isa, fixed rate account or a regular saver account, you should always make Save Money Online your first port of call. We make it easier than ever before to compare the market and to get the best advice on savings accounts and other financial products.