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How to Guides
- Guide to savings accounts
Read our comprehensive guide to savings account and make your savings accounts work for you.
Instant Access Savings Accounts
Instant access savings accounts are an excellent option if you want to put money aside and earn some interest on your hard-earned cash while remaining safe in the knowledge that you can get to your money when you need it the most without penalty or having to give your provider notice. Read more...>
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ING DirectBonus guaranteed for 12 months from account opening |
2.9% | Monthly |
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Principality eSaver Issue 3Access your account easily online and with a 2.85% AER interest rate |
2.85% | Yearly |
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Nationwide RegularSave up to a £1,000 each month |
2.5% | Yearly |
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In return for this flexibility and increased access the interest rate you will earn on even the best instant access savings account will usually be a lot lower than that offered on fixed-term savings accounts or bonds.
In terms of managing day-to-day finances, it can be useful to have a savings account with instant access for each ‘cause’ you are saving for, for example one for a holiday, one for Christmas and so on.
Plus, you may want to consider getting an instant access savings account for the portion of your wages that would usually sit untouched in a standard current account for the majority of the month until it is needed to pay bills because you will likely earn more interest on your money this way.
Using this method is especially easy considering there’s no limit on how many standard instant access savings accounts you can have and most require a very small initial deposit in comparison to other types of accounts.
Top Tips for Instant Access Savings Accounts
- If you are happy to manage your accounts via online banking opt for an internet instant access account and you will likely get a higher interest rate. This will also make it less tempting to spend
- Set up standing orders so each month the money you want to save is automatically paid into your instant access savings accounts. You are more likely to acheive your savings target this way.
- Keeping money in an instant access savings account will not only help to protect your money from inflation but will also help to protect it from thieves.
- If you are unlikely to want to access your money regularly throughout the year you will earn much better returns on fixed-term savings accounts or bonds. Instant access accounts are not ideal for lump sum savings.
Savings Accounts Blogs
- Customer Service at Premium Rates! 9 Feb 2012 | Read More ›
- What does 2012 hold for UK personal finance? 18 Jan 2012
- Are fixed rate savings accounts the best way to save? 26 Sep 2011
Did you know?
The first credit cards were given out in 1950 to just 200 people. They were only accepted in 14 restaurants in New York.
Source: About.com (http://history1990s.about.com/
od/1950s/a/firstcreditcard_1.htm)
Savings Accounts News
Child SIPPs could turn babies into millionaires
01-Feb-12
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Child SIPPs can provide comfort in retirement.
Inflation taking its toll on older consumers
17-Jan-12
17-Jan-12
With inflation still biting, savings are becoming more important.
Brits plunder savings accounts to fund Christmas
12-Dec-11
12-Dec-11
Piggy banks will be much lighter in the new year.
Product Offers
Please ensure that you fully read the terms & conditions of any product or policy before you decide to proceed and are fully aware of the total costs and the benefits and any exclusions or limitations applicable to the product or plan.
Please note that the product links will take you direct to the Issuer or Insurer's site direct and we cannot be held responsible for the information which they provide within their own sites. On some comparison tables we use a star rating which rates products by visitor popularity.
Please ensure that you fully read the terms & conditions of any product or policy before you decide to proceed and are fully aware of the total costs and the benefits and any exclusions or limitations applicable to the product or plan.
Please note that the product links will take you direct to the Issuer or Insurer's site direct and we cannot be held responsible for the information which they provide within their own sites. On some comparison tables we use a star rating which rates products by visitor popularity.