Options Savings Accounts UK

UK SAVINGS ACCOUNTS OPTIONS - The Best Savings Accounts Online

Which is the Best Savings Account for Me?

The best savings account for you is largely dependent on your requirements. Do you need instant access to your money or are you happy to leave your cash untouched for a few years? Do you want online access to your account or do you want to be able to visit a physical branch?

Have you made use of this tax year's ISA allowance? If not, you may want to consider a mini cash ISA which ensures that interest you earn from up to £3000 of your savings is tax free.

As a rule of thumb, you should ask the following questions when deciding what type of account is most suitable:

• Do you require instant access?
  

• How will you manage your account?
  

• When do you want interest paid?
  

• Do you want a guaranteed interest rate?
  

• Would you benefit from a mini ISA?

Types of Savings Accounts

In general, there are seven distinct types of Savings Account, each with its own set of advantages and disadvantages. The seven types of account are as follows:

• Internet
  

• Instant access

• Notice
  

• Savings bond
  

• Mini cash ISA
  

• TESSA only ISA
  

• Child Savings Accounts