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What are the best savings accounts UK?

It is not just about discovering the savings accounts that offer the best interest rates or other benefits. It is also about making sure that you are in the best circumstances to take advantage of advertised deals. Before you even think about searching for the best savings accounts UK based or otherwise, you need to make sure that you aren't in any debt. If you attempt to save money while you are in debt, you will not end up doing yourself any favours.

If you are clear of any debts, this is the time to start looking for the best savings accounts. In this article, we will be focusing on the best variable rate savings deals (as these can work out to be better than fixed rate savings options). With variable rate deals, it is also easier to switch to somebody else if the rate becomes less favourable, whereas with fixed rate deals you are tied in for a specific length of time.

The most profitable savings account deals can be found advertised by building societies and the best of those are related to online accounts. Online accounts require less maintenance, so they are cheaper than going into a local branch. Plus, they can be opened for as little as £1 and online savings accounts do not normally add charges if the customer ever has to make withdrawals from their savings account.

If you are able to put away a sum of money each month towards your savings goal, then a regular savings account will work out best. These are designed specifically for those who wish to deposit between £10 and £500.

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