Which savings account is the right one for you?

The world of savings can be a complex place with swirling interest rates and jargon that can be very confusing. During such an uncertain period, it’s very sensible to choose an account which suits your needs and encourages healthy savings habits. So, how do you pick one? We’ve broken down the most common accounts (and our award-winning options) to help you find the perfect fit for your pennies.

The Freedom Savings Account

An easy access account is one of the most flexible options on the market. This account will have a competitive rate and allow you unlimited access to your cash, anytime, anyplace. Pay in from £100 to a million and most providers will not apply penalties, tiered fees or notice periods (which are all designed to deter withdrawals and help your cash pile grow). If you need an account you can easily dip in and out of to balance day-to-day expenses, the Freedom Savings Account is for you.

The Notice Account

Planning a surprise for a loved one this lockdown? Dreaming of a new treat to make up for a missed event? Notice accounts help you save up for the finer things in life by allotting a specific number of days that you must give notice to your provider before you withdraw. For instance, whether you are saving up for an engagement ring or new phone, if you open an account in November, we would need you to alert us 95 days before you cash out in early February so you can buy that rock or Facetime your loved ones! The notice account encourages patience, taming impulsive spenders.

The Fixed Term Account

If you’re looking to make headway on your five-year plan, we want to help. A fixed term account keeps your savings tucked away safely for an extended period, with pre-agreed immovable rates. Our range offers accounts from one to five-year terms with unlimited deposits two weeks from application. You must pay in a minimum of £1,000 and you will not be able to withdraw within the chosen term. A fixed term account is ideal for long-term money management such as: property deposits, weddings and family planning.

Whichever savings provider you choose, most will have a variation of one of the three accounts mentioned above. You can read more about our award-winning offerings and apply in minutes online (subject to T&Cs). Discover your perfect match below.

You may also like this posts :