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How to Find the Best Instant Savings Accounts

If you're looking for the highest interest bank accounts, it's necessary to do your homework. Don't rely on your bank to do what's right for loyal, existing customers. Not only are the top internet savings accounts reserved for new business, they're notoriously difficult to find. However, you can achieve a great return on your investment if you open one of these current accounts.

Santander Preferred Current Account

If you have been £1 and £2500, you'll have instant access to your money and enjoy a return of 5% AER. If your balance exceeds this figure, you won't receive any interest on the extra. In order to benefit from this attractive deal, you'll need to pay in £1000 each month; fail to do so and you'll pay a £2 underfunding fee. The offer is available for 1 year.

ING Direct Savings Account

They don't have any local branches, but they do offer an attractive return of 3% AER with no strings attached. Provided that you have at least £1 in your account, you'll receive the advertised rate for the next 12 months. You can withdraw the money without penalty.

Principality E-Saver, Issue 4

As long as there's £1 in your account, you'll receive 2.85% AER for the next year. This includes a bonus of 1.2%. There is no period of notice, so you can withdraw your money when the need arises.

Checking for the Best Instant Savings Accounts

If you don't have a great deal of time to spend trawling the market for the latest current account deals, you'll be better off using a price comparison site, such as moneynet.co.uk or moneysupermarket.com. Don't just use the one site, compare your results with what you find elsewhere. Comparison websites often have exclusive deals with banks, so it pays to shop. Most deals end after a year, so this is normally the best time to commence your search.

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