Take a look at the best savings accounts in the market so you can find the best option to help meet your goals
Look at how your currently save
Compare different savings accounts and interest rates
Find an account that works for you
Look at how your currently save
Compare different savings accounts and interest rates
Find an account that works for you
A savings account is a place where you can put your money and earn interest on the money you save. The interest rates can vary but it is a convenient way to look after your money if you want to save for the future. There are different types of savings accounts available to suit long-term and short-term savings.
Everyone has a personal savings allowance (PSA), which lets basic-rate taxpayers (20%) earn up to £1,000 in interest without paying any tax on it. If you are a taxpayer at a higher rate (40%), you can earn £500 in savings per year with no tax, but if you are an additional-rate taxpayer (45%), you will pay tax on all interest earned.
An easy access savings account pays interest and gives you the freedom to withdraw your savings when it suits you. It is more flexible than other savings accounts in the market, although there may still be some withdrawal limits or conditions.
A notice savings account requires you to give notice to your bank or building society before you can withdraw money. The notice period varies from a week to more than a month, depending on the terms of the account.
A fixed-rate bond is a type of savings account that allows you to put your money away for a set amount of time. You can’t take the money out or pay more in during this time, but in exchange you are normally rewarded with a higher interest rate in comparison to other savings accounts.
A children’s savings account is very similar to a savings account for adults and is offered by banks and building societies. It can be a good way to educate children about money and encourage them to save in the future.
ISA stands for Individual Savings Account, a tax-efficient savings vehicle introduced by the government as a way of encouraging people to save. With this type of savings account, you can avoid paying income tax on your interest, but there is a limit on how much you can save into one each year. There are different types of ISAs, including cash ISA, lifetime ISA and stocks and shares ISA.
Source: Defaqto and Uswitch. Updated: June 2, 2025
It's always a good idea to do your research before signing up for a new savings account. We can help you compare the savings rates on offer from the best deals in the market so that you find the right home for your money.
If you would like to open a savings account, you can normally do this by visiting your chosen bank's branch, visiting their website, or calling them. Some banks only allow you to open an account in a specific way, so always check the terms and conditions before proceeding. You'll then need to provide a proof of ID and proof of address so the bank can complete the necessary checks.
Yes, it is possible to set up a joint savings account and this will mean that the account belongs to yourself and the other account holder. You'll then both be able to deposit money into the account and build your savings pot together.
It depends on what account you open, as there can be some restrictions. For example, you can only save up to £20,000 in a cash ISA each tax year.
Below you can find a list of our pages about different savings accounts :
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