UK's total energy consumption used by the domestic sector has risen by 23pc in the past 35 years.
Source: Daily Telegraph (www.telegraph.co.uk)
The highest interest savings accounts are Bonds/Term Accounts, Notice Accounts and ISAs. In return for more restriction on when and how you can access your money, the financial institution providing the account will offer you a higher interest rate.
Other restrictions will usually be in place to prevent you from adding to your deposit during the term. These accounts give the highest rates but are the least flexible. The rate that you agree to at the beginning will be fixed for the term and won't fluctuate with the Bank of England rate. That does mean that if the Bank of England rate increases substantially, you won't see the benefit. However, by the same token, if the BoE rate falls your interest rate won't be affected.
As a more flexible but still relatively high interest savings option, some banks offer Notice Accounts which require the customer to give a notice period before any withdrawal of money. Instant access from such accounts will usually result in a penalty charge. The notice period can vary from one week to six months but usually will be one to two months.
Unlike Bonds and Term Accounts, Notice Accounts have an interest rate that usually moves with the Bank of England rate, so it is not fixed throughout.