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A savings account is simply a place for you to put your money and earn some interest. Savings interest will be paid to you tax-free and most savers won't pay any tax on the interest they earn. Basic-rate taxpayers can earn £1,000 a year in interest tax-free, and higher-rate taxpayers £500, because of the personal savings allowance.
- Cash ISA
Get tax free interest on savings of up to £20,000. Martin...
- Regular Savings Accounts
Matt has saved a total of £3,000 in a regular savings...
- Premium Bonds
NS&I Premium Bonds are a savings account you can put money...
- Personal Savings Allowance
Higher-rate (40%) taxpayers: can earn £500 in savings...
- Pensions
So, pension freedom meant you can keep your money in your...
- News
Full State Pension set to rise for most by £362 (4.1%) and...
- Savings Calculator
Regular Savings Accounts. Boost the savings rate you get by...
- Junior ISA
You can put up to £9,000 into a junior ISA in the 2024/25...
- Cash ISA
Dec 5, 2023 · Martin Lewis: "The highest possible interest rates come from regular savings accounts where you can earn up to 8%. "Now, these give you higher rates, but you can only put small amounts in. They are designed for saving each month; putting away money each month. If you do have a lump sum, what you could do is just drip-feed the money from your ...
5 days ago · The best savings rates in October 2024. Our experts regularly scour the market for the best rates so you don't have to. Here's what you can currently get, based on how long you're willing to lock your cash up for. The top instant-access rates are based on an initial deposit of £1,000 and for fixed-rate bonds it's £5,000.
Dec 31, 2021 · A savings account isn't your only option for earning interest. Current accounts can offer competitive returns, but on smaller balances. Virgin Money pays 2.02% AER on balances up to £1,000 held in its Virgin Money M Plus account. You can also earn 2% AER on balances up to £1,500 for the first 12 months after opening a Nationwide FlexDirect ...
- What Is A Savings account?
- What Are The Different Types of Savings accounts?
- Best Savings Accounts in The UK
- What to Consider Before Opening A New Savings Account
- How to Boost Your Savings
A savings account provides a safe place for you to deposit your money, away from your usual everyday spending. You can earn interest on money held in a savings account and depending on the type of account you have, you should be able to access your money relatively easily. Savings accounts can be a good way to save money for a rainy day or for shor...
There are numerous savings accounts to choose from and so it is wise to do your research and work out which type of savings account works best for you. We briefly explain each type of saving account below but more information can be found in our article, 'What are the different types of savings accounts?' Savings account types: 1. Current account s...
In this section of the article, we list the best rates for each savings account type. If you want to compare the best deals and latest savings rates, click on the best buy of each section or visit our website where you can view all of our savings best buys. >
Before opening a savings account there are a few things that you should consider to ensure you are maximising the returns on your money. We list some things to consider before choosing a savings account below:
It is always good to try and boost your savings to ensure you are always making the most of your money. We share some easy ways you can boost your savings.
Mar 5, 2024 · Visit. first direct. First Direct offers a range of savings accounts with competitive rates, making it an attractive option for UK savers. Its cash ISAs offer a tax-free AER of 2.28%, while its 12-month fixed-term savings account offers an impressive 7.00% AER/gross rate.
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Apr 8, 2024 · 7% AER fixed for 1 year. Open via: website, mobile app. Put away between £25 and £300 for a fixed 12 month term. If you save £300 every month for 12 months and qualify for the 7.00% AER/gross p.a. interest rate, you'll earn approximately £136.50 interest (gross). Interest is calculated daily and paid 12 months after you opened the account.
