Finding the Right Bank Saving Accounts for You

Looking for bank saving accounts is completely normal and is also a good idea. The benefit of a savings account is that your money can earn you interest over the time that it is in there, unlike current accounts. There are a few options available when searching for bank saving accounts.

Nationwide offers some of the best rates on your savings with the MySave Online Plus, which offers an amazing 3.05% on your savings. The interest is added to your account on a monthly basis so you can watch as the money is added. However, there are some downsides to selecting this account and the main one is getting your hands on your money. You are limited to withdrawing it once a year without a charge. You will also need to have a minimum of £1000 sitting in the account.

If the minimum amount is too much or you want to be able to withdraw your money at any time, then you should consider the Halifax Web Saver Reward account. This still offers a great interest rate of 2.80% but it is only paid in on a yearly basis and you can only have up to £5,100 in the account at a time.

If you want one that has no maximum limit but will allow you a small minimum amount, the Natwest e-Savings account is the one for you, which adds the interest on a monthly basis. However, the interest rate is only 1% because of the lack of limitations set on the account.

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