Savings Accounts

Compare Savings Accounts

Whether you want an instant access account, need online savings, bonds or fixed term accounts or even an ISA account, Compare Now can help you choose. Narrow your search and review the savings accounts below. Then click on your preferred account for more information or to apply.

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Account Information	Account Type	Maximum Interest (AER%)	Interest Paid	Minimum Deposit
Natwest - eSavings The e-Savings account lets you manage your money when it suits you. This is an online-only savings account, offering a rewarding rate of 1.00% AER (variable) no matter how much you save. There are no penalties for withdrawing your money, and you can start saving with just Ł1. All interest is paid monthly directly into the account. No need for an existing NatWest account.	Internet Savings	1.00%	Monthly	1
RBS - Direct Saver Start saving with just Ł1. You can make regular payments and have instant access to your money, plus manage your account easily with online banking. There is no need to have an existing RBS account.	Internet Savings	1.50%	Annually	1
HSBC - HSBC Online Bonus Saver Account HSBC Online Bonus Savers Account is a high interest account that you manage online. Consumers will earn a variable rate of 0.75% AER (0.75% gross including bonus interest), when they don't make a withdrawal. If you do need to make a withdrawal, you won't get bonus interest, but you'll still get 0.25% AER (0.25% gross).	Internet Savings	0.75%	Monthly	1

About Savings Accounts

There are many different types of savings accounts now available, from instant access accounts to high interest accounts where your money is tied up for several years, and the choice can often be bewildering. The type of savings account most suited to you depends on a number of factors, including your income, whether you need instant access to your money and how long you are prepared to commit to a particular account.

Savings accounts generally fall into five different categories. Instant access accounts allow you to access your money straight away without giving notice, and do not charge a financial penalty or withhold interest for the privilege. They are ideal for those who want to save but may need to draw cash at short notice. Because of their flexibility, instant access accounts often carry a lower rate of interest than longer term savings accounts.

Notice accounts tend to offer a good rate of interest, but require you to give a certain amount of notice before you withdraw money and will charge a penalty fare for early withdrawal. However, these accounts are falling out of favour with consumers as instant access accounts become increasingly competitive.

If your priority is ensuring your money is safe and secure, and you do not need short term access to it, then you should look at a bonds account. This type of account offers a very high rate of interest but requires your money to be tied up for a certain period of time - usually between one and five years - and you are not usually allowed to add funds to your initial deposit.

Regular savings accounts require you to make a certain number of deposits each year to avoid loss of interest or closure. This account is suited to people on a steady income who can afford to save a certain amount of money each month. Regular savings accounts often pay superior rates of interest by giving savers an annual bonus on top of their monthly savings. Most limit the number of withdrawals you can make each year.

Individual savings accounts, or ISAs, offer a good rate of interest on your savings and investments which is tax free. You can deposit up to 3,600 pounds per tax year in cash ISA and have instant access to your money. However, if you withdraw money you can't pay in any more than your maximum annual allowance. You are permitted one cash ISA and one stocks and shares ISA each tax year (April 6th - April 5th). You can invest up to 7,200 pounds in a single tax year - this went up from 7,000 pounds in April 2008. A maximum of 3,600 pounds can be invested in a cash ISA. The remainder of your 7,200 pounds allowance can be invested in stocks and shares. Alternatively you can invest the full amount in a stocks and shares ISA.