We have quickly displayed and compared all the best UK saving accounts that pay the highest rates of interest on the market. View the benefits and account information for each savings account side by side and simply click through to apply for the account online.
Do you want to find a reliable savings account for your money? If you are looking for more than just the standard account, then you might want to turn to a high interest saving account, which offer you the best return for the money you invest, and can also mean that you benefit from having even small amounts of money left in that account. Even if you already have a saving account, then you could still get what you need by switching to a high-interest account, so it is always worth doing your research and getting more information about the different types of accounts available.
If you have money in an account which is not being used, then you are missing out on an interest rate bonus if you don't have it in a savings account. Since the Bank of England has been sticking doggedly to low interest rates - great information for those with mortgages or loans - savers have been struggling to make any real money on their investments. With a low rate of interest on many savings accounts, it takes a considerable amount of cash to make any money from the average savers accounts. This is where a higher rate of interest on your account can make the most significant difference.
If you are looking for a good rate of interest from your savings account, then you may want to consider more than one bank, and more than one style of saving account. For example, if you want to only save money for a single year, and reap significant rewards for doing so, then you may want to consider a cash NISA. This is a New Individual Savings Account, and allows you to save money tax free. You are allowed to save up to £15,000, which can be saved in any combination. In order to benefit from this scheme, you need to invest as soon as possible, and withdraw the money as soon as the year is over - if you don't do this, then you could lose the money you have earned in your saving account.
Another option is to choose a traditional bank savings account. For instance, both the Santander 123 account and the Nationwide FlexDirect account have good saving rates. With the Santander 123 Current account, you get 3% on savings over £3,000, and can save as much as £20,000 in the account. You can also get other benefits, such as cash back on utility bills, council tax and other payments.
Nationwide FlexDirect account gives you 5% AER on your interest rates for balances up to £2,500. This is fixed for the first 12 months. After the first 12 months you get a variable rate of about 1%. There is no interest on balances over the standard sum of £2,500, so if you put in £5,000, only half of that amount will earn any interest. This can be a good solution if you only have a small amount of money.