Accounts for savings with highest interest

What is the best savings account in the UK?

The question of the best savings account is extremely individual. After all, for some, the maximum percentage will be better, for someone - immediate access to funds. Therefore, the best savings account will be the one that best meets your needs and capabilities.

However, we can provide basic guidelines for choosing the best savings account:

• Easy Access Accounts: such accounts provide for flexible withdrawal conditions
• Fixed deposit accounts: this type of account is suitable for those who plan to invest in long-term savings. By blocking funds for a set period, you can get fixed higher interest rates.
• notice savings accounts (30-day notice savings account, 90-day notice savings accounts). A savings account offers the opportunity to earn good interest but requires a certain number of days' notice (30 or 90) to access your funds.
• switch savings account. This type of account provides the possibility of transferring funds to a new account to receive higher interest.
• short term savings accounts provide for the placement of funds for a short period
• long-term saving accounts are suitable for those who are interested in long-term investments

When choosing a savings account, we recommend comparing interest rates, fees, and terms. Only through comparison and analysis can you choose the best option.

Calculate future income on a 1-year term deposit (example): 

What are the best 30-day notice savings accounts?

A 30-day notice savings account in the UK requires you to give 30 days' notice before you can withdraw your funds. These accounts often offer better interest rates than instant-access savings accounts while providing more flexibility than fixed-term savings accounts.

Here are some of the best 30-day notice savings accounts available in the UK:

1. Aldermore 30 Day Notice Account
2. Secure Trust Bank 30 Day Notice Account
3. Charter Savings Bank 30 Day Notice Account
4. RCI Bank 30 Day Notice Account
5. Sainsbury’s Bank 30 Day Notice Saver
6. Secure Trust Bank 30 Day Notice Account (ISA)
7. UTB (United Trust Bank) 30 Day Notice Account

Who offers the best 6 months savings accounts in the UK?

A 6-month savings account, often referred to as a 6-month fixed-term savings account or bond, typically offers a fixed interest rate for a 6-month period. These accounts usually provide higher interest rates than instant-access accounts because your money is locked in for the duration.

1. Charter Savings Bank 6 Month Fixed Rate Bond
2. Shawbrook Bank 6 Month Fixed Rate Bond
3. Atom Bank 6 Month Fixed Saver
4. Paragon Bank 6 Month Fixed Rate Savings Account
5. Aldermore 6 Month Fixed Rate Account
6. Tandem Bank 6 Month Fixed Saver

What are best flexible savings accounts?

Flexible savings accounts in the UK offer a balance between accessibility and competitive interest rates, allowing you to withdraw and deposit money without penalties or restrictions. These accounts are ideal for those who want to save while still having the flexibility to access their funds when needed.

1. Marcus by Goldman Sachs Online Savings Account
2. Chase UK Saver Account
3. Virgin Money M Plus Saver
4. Yorkshire Building Society Loyalty Six Access Saver
5. Nationwide Building Society Flex Instant Saver
6. Tesco Bank Internet Saver
7. Aldermore Easy Access Account
8. Clydesdale Bank B Instant Saver

How do I apply for instant savings accounts in the UK?

Applying for an instant savings account in the UK is a straightforward process that can often be completed online, via a mobile app, or in-person at a bank or building society branch. Look for the best available interest rates to maximize your returns. Ensure the account offers the flexibility you need, such as unlimited withdrawals or easy online management.

Once you've selected an account, visit the bank or building society's website, app, or branch to begin the application process. You'll typically need the following documents and information to open an instant savings account:

A valid passport, driving license, or other government-issued ID. A recent utility bill, bank statement, or council tax bill (usually dated within the last 3 months). This may be required for tax purposes. Be prepared to transfer or deposit the minimum required amount to open the account.

Most banks allow you to apply online. You'll need to fill in your personal details, provide the required documentation, and set up your initial deposit. If the bank has a mobile app, you can usually complete the application directly through the app. Visit a local branch with your documents. A staff member will assist you in filling out the application and setting up the account.

Many banks will verify your identity electronically using the details you provide. If applying in-branch, your documents will be checked on-site. Some banks may require you to send copies of your documents by post if applying online.

Register for online banking to manage your account, set up transfers, and track your savings. Decide whether you want interest paid monthly or annually, if applicable. You may need to link your instant savings account to your current account for easy transfers.

Transfer the required minimum deposit to activate your account. Set up regular transfers or standing orders to build your savings. Once your application is approved, you'll receive confirmation via email, post, or through the app. Your account will be ready to use, and you'll be able to deposit and withdraw funds as needed.

For what period can I apply fot a long-term saving account? 

In the UK, long-term savings accounts typically come with fixed terms that range from 1 year to 5 years or more. The specific period you can apply for depends on the type of account and your financial goals.

Here's an overview of common long-term savings account options and their typical durations:

1. Fixed-Term Savings Accounts (Fixed-Rate Bonds). Term Lengths: Usually 1, 2, 3, 4, or 5 years.

2. Individual Savings Accounts (ISAs). Can be long-term if you choose a fixed-rate Cash ISA, with terms typically ranging from 1 to 5 years.

3. National Savings and Investments (NS&I). Term Lengths: 1, 2, 3, or 5 years.

4. Regular Savings Accounts. Often 1 year, but can be used as part of a long-term savings strategy.

5. Long-Term Investment Accounts. Typically designed for retirement, with funds accessible from age 55 (rising to 57 in 2028).

What are notice saving accounts in the UK?

Notice savings accounts in the UK are a type of savings account that requires you to give notice before you can withdraw your funds. The notice period can range from 30 days to 180 days, depending on the account.

These accounts typically offer higher interest rates than instant-access accounts because the bank or building society benefits from knowing that the funds will be in place for a specified period.

Generally offer higher interest rates compared to instant-access accounts. The interest rate is often fixed for the duration of the notice period.

You must give advance notice (e.g., 30 days, 60 days, 90 days) before you can make a withdrawal. The notice period varies between different providers and accounts.

You cannot withdraw funds immediately; you must wait until the notice period is over. Some accounts may allow partial withdrawals, but this usually requires additional notice or may affect the interest rate.

Most notice accounts have a minimum deposit requirement, which can vary widely. Interest is usually paid monthly or annually, depending on the account. Some accounts may offer the option to choose how often interest is paid.

Wh at are compounding interest savings accounts?

Compounding interest savings accounts in the UK are savings accounts where the interest earned on the account is added to the principal, so that future interest is calculated on the new, higher balance. This process of earning interest on interest can help your savings grow faster over time compared to simple interest accounts, where interest is calculated only on the initial principal.

What are easy access savings accounts in the UK?

Easy access savings accounts in the UK are designed to offer flexibility, allowing you to deposit and withdraw funds without restrictions or penalties. They are ideal for people who want to maintain liquidity while earning interest on their savings.

You can usually access your funds at any time without needing to provide notice or face penalties. Most accounts allow unlimited withdrawals and deposits.

Interest rates are often variable and may change over time based on market conditions or changes made by the bank. While the rates may be lower compared to fixed-term accounts or notice accounts, they are typically higher than standard current accounts.

What are short-term saving accounts?

Short-term savings accounts in the UK are designed for individuals who want to save money for a relatively brief period while earning interest. These accounts are ideal for achieving financial goals within a short time frame, such as saving for a vacation, a down payment on a car, or an emergency fund.

Typically, short-term savings accounts are meant for periods ranging from a few months to 1 or 2 years.

Can I switch a savings account to another bank?

Yes, you can switch a savings account to another bank in the UK.

Look for a new savings account that offers better interest rates, features, or terms that suit your needs. Check the minimum deposit requirements and access conditions of the new account.

Apply for the new savings account with your chosen bank or financial institution.You may need to provide personal identification and address verification, depending on the bank’s requirements.

Once the new account is open, transfer your savings from the old account to the new one. You can usually do this online through your old bank’s online banking platform or by instructing the new bank to do the transfer on your behalf.

Make sure to transfer your funds at a time that allows you to take full advantage of the interest rates on both accounts.

Once the transfer is complete and you have confirmed that all your funds have been moved, you can close the old savings account. Ensure that you receive confirmation of the account closure and that there are no outstanding transactions or fees.

If you had any standing orders or direct debits set up from the old account (though this is less common for savings accounts), update these to be directed from your new account if needed.

You can see the similar FAQ at the link:

• Lloyds online banking for business
• Metro business banking
• Opening a business bank account in Lloyds
• What are HSBC BACS payments?
• What does HSBC business insurance cover?

Details of companies offering the financial services:

Ahli United Bank

Head office’s address: 35, Portman Square, London W1H 6LR United Kingdom

Phone: +44 (020) 7487 65 00

Web-site: https://www.ahliunited.com/uk/

Swift code: UBKLGB2LBAK

Reference number: 131818

Stock code: AUBB

ABN: 00877859

BSB: UBKL

Aldermore Bank

Head office’s address: Apex Plaza, Forbury Road, Reading, RG1 1AX

Phone: +44 20 7788 6699

Web-site: http://www.aldermore.co.uk/

Swift code: ALDBGB2P

Reference number: 204503

Stock code: 51WB

ABN: 00947662

BSB: ALD

Aldermore Bank

Head office’s address: Apex Plaza, Forbury Road, Reading, RG1 1AX

Phone: +44 20 7788 6699

Web-site: http://www.aldermore.co.uk/

Swift code: ALDBGB2P

Reference number: 204503

Stock code: 51WB

ABN: 00947662

BSB: ALD

Allica Bank

Head office’s address: 4th Floor, 164 Bishopsgate, London EC2M 4LX.

Phone: +44 330 094 3333

Web-site: https://www.allica.bank/

Reference number: 821851

ABN: 07706156

Atom Bank Plc

Head office’s address: 14 Eland Edge, Ponteland, Northumberland, United Kingdom

Phone: +44 (019) 125-629-35

Web-site: https://www.atombank.co.uk

Swift code: ATMBGB22XXX

Reference number: 661960

ABN: 08632552

BSB: ATM

Bank of Scotland

Head office’s address: The Mound, Edinburgh EH1 1YZ

Phone: +44 (034) 5721 31 41

Web-site: http://www.bankofscotland.co.uk/

Swift code: BOFSGB31

Reference number: 169628

Stock code: 0076540

ABN: SC327000

BSB: BOFS

Barclays Bank

Head office’s address: 1 Churchill Place, London E14 5HP

Contact center: 0800-400-100

Phone: +44 (034) 5734 53 45

Web-site: http://www.barclays.co.uk/

Swift code: BARCGB33

Reference number: 122702

Stock code: BARC

ABN: 01026167

BSB: BARC

Charter Savings Bank

Head office’s address: 2 Charter Court, Broadlands, Wolverhampton WV10 6TD

Contact center: 0800 111 6768

Phone: +44 800 032 9999

Web-site: https://www.chartersavingsbank.co.uk/

Close Brothers

Head office’s address: 10 Crown Place

Contact center: 0800-588-40-64

Phone: +44 (033) 3321 61 00

Web-site: https://www.closebrothers.com/

Swift code: CBRLGB2LTSY

Reference number: 124750

Stock code: CBG

ABN: 00195626

BSB: CBRL

Coventry Building Society

Head office’s address: High Street

Contact center: 0800-121-8899

Phone: +44 (024) 7655 52 55

Web-site: http://www.coventrybuildingsociety.co.uk/

Halifax

Head office’s address: The Mound, Edinburgh EH1 1YZ

Contact center: 0345-720-3040

Phone: +44 (011) 3242 19 84

Web-site: http://www.halifax.co.uk/

Stock code: HALP

Hampshire Trust Bank

Head office’s address: 55 Bishopsgate

Phone: +44 (020) 7862 62 20

Web-site: https://www.htb.co.uk/

Swift code: HTPLGB2L

Reference number: 204601

ABN: 01311315

BSB: HTPL

Hargreaves Lansdown

Head office’s address: One College Square South, Anchor Road, Bristol, BS1 5HL

Web-site: https://www.hl.co.uk/

HSBC Bank

Head office’s address: Unit 8, Canada Square, Retail, London E14 5AH

Phone: +44 345 740 4404

Web-site: https://www.hsbc.co.uk/

Swift code: HBUKGB4B

Reference number: 114216

Stock code: HSBA

ABN: 00014259

BSB: HBUK

ICICI Bank UK

Head office’s address: One Thomas More Square London E1W 1YN

Contact center: +44 344-412-4444

Phone: +44 203 478 5319

Web-site: https://www.icicibank.co.uk/

Investec Bank

Head office’s address: 30 Gresham St, London EC2V 7QN

Phone: +44 20 7597 1234

Web-site: https://www.investec.co.uk/

Swift code: IHCSGB21

Reference number: 172330

Stock code: 42UE

ABN: 00489604

BSB: IHCS

Leeds Building Society

Head office’s address: Building, Hardman Boulevard, Manchester M3 3AQ

Web-site: https://www.leedsbuildingsociety.co.uk

Lloyds Bank

Head office’s address: 25 Gresham Street, London EC2V 7HN

Contact center: 0345-300-0000

Web-site: https://www.lloydsbank.com/

Swift code: LBGTGB22

Reference number: 119278

Stock code: LLOY

ABN: 00002065

BSB: LBGT

Melton Building Society

Head office’s address: Mutual House, Leicester Rd, Melton Mowbray

Phone: +44 1664-414141

Web-site: https://www.themelton.co.uk/

Metro Bank

Head office’s address: One Southampton Row, London, WC1B 5HA

Phone: +44 (034) 5080 85 00

Web-site: https://www.metrobankonline.co.uk/

Swift code: MYMBGB2L

Reference number: 488982

Stock code: MTRO

ABN: 06419578

BSB: MYMB

Monmouthshire Building Society

Head office’s address: Monmouthshire House, John Frost Square, Kingsway Centre, Newport NP20 1PX

Phone: +44 1633-844-400

Web-site: https://www.monbs.com/

Nationwide

Head office’s address: Nationwide House Pipers Way

Contact center: 0800-30-20-15

Phone: +44 (034) 5730 20 15

Web-site: http://www.nationwide.co.uk

Swift code: NBSMGB22

Reference number: 106078

Stock code: NBS

ABN: 355B

BSB: NBSM

NatWest Bank

Head office’s address: 250 Bishopsgate, London, EC2M 4AA

Contact center: 0800-88-11-77

Phone: +44 345 788 8444

Web-site: https://www.natwest.com/

Swift code: NWBKGB2

Reference number: 121878

Stock code: GBP1

ABN: 00929027

BSB: NWBK

OakNorth Bank

Head office’s address: 57 Broadwick Street London, WIF 9QS, UK

Contact center: 0161-713-4071

Phone: +44 330 380 1181

Web-site: https://oaknorth.co.uk/

Swift code: OAKNGB22

Reference number: 629564

ABN: 8595042

BSB: OAKN

Paragon Bank

Head office’s address: 51 Homer Road, Solihull, West Midlands B91 3QJ

Contact center: 0800-052-2222

Phone: +44 345 849 4000

Web-site: http://www.paragonbank.co.uk/

Swift code: PRGNGB22

Reference number: 604551

Stock code: PAG

ABN: 05390593

BSB: PRGN

Paragon Bank

Head office’s address: 51 Homer Road, Solihull, West Midlands B91 3QJ

Contact center: 0800-052-2222

Phone: +44 345 849 4000

Web-site: http://www.paragonbank.co.uk/

Swift code: PRGNGB22

Reference number: 604551

Stock code: PAG

ABN: 05390593

BSB: PRGN

Post Office

Head office’s address: 12 Eastcheap, London. EC3M 1AJ

Contact center: +44 345 722 3344

Web-site: http://www.postoffice.co.uk

RCI Bank UK

Head office’s address: Rivers Office Park, Denham Way, Rickmansworth WD3 9YS

Contact center: +44 345-605-6050

Web-site: https://www.rcibank.co.uk/

Royal Bank of Scotland

Head office’s address: 36 St Andrew Square, Edinburgh, EH2 2YB

Contact center: 0345-600-2230

Phone: +44 (070) 3597-88-42

Web-site: https://www.rbs.co.uk/

Swift code: ROYCGB2LCLS

Stock code: NWG

ABN: BR000548

BSB: ROYC

Saffron Building Society

Head office’s address: 1A Market St, Saffron Walden CB10 1HX

Phone: +44-1799-520606

Web-site: https://www.saffronbs.co.uk/

SBI UK

Head office’s address: 15 King street, London

Contact center: 0800 532 532

Phone: +44 207 454 4338

Web-site: https://sbiuk.statebank/cookie-policy

Skipton Building Society

Head office’s address: 71 High Holborn, London WC1V 6EA

Phone: +44 20-7242-8147

Web-site: https://www.skipton.co.uk/

Stream Bank

Head office’s address: Ian Franses Associates, 24 Conduit Place, London, England, W2 1EP

Web-site: https://streambank.co.uk/

The Co-operative Bank plc

Head office’s address: 1 Balloon Street, Manchester M60 4EP

Contact center: 159

Phone: +44 (034) 5721 22 12

Web-site: http://www.co-operativebank.co.uk/

Reference number: 121885

ABN: 00990937

Vanquis Bank

Head office’s address: 1 Godwin Street, Bradford, West Yorkshire BD1 2SU

Contact center: 0330-099-3000

Phone: +44 191 505 0033

Web-site: https://www.vanquis.co.uk

Swift code: VQISGB21

Reference number: 221156

Stock code: 609594

ABN: 02558509

BSB: VQIS

Yorkshire Building Society

Head office’s address: 80 Fenchurch St, London EC3M 4BY

Contact center: +44-345-602-1885

Web-site: https://www.ybs.co.uk/