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The opportunities to be had from high interest savings accounts uk

While the recession is officially over, we are still being told that we are in the age of austerity and times remain tight. It doesn’t help that interest rates are at their lowest ever levels, and have been at this record low for a staggering 29 months. Furthermore, they look unlikely to be reduced any time in the near future with many predicting they will remain at their current rate until the end of next year.

Because of this, the hunt for income has never been more important and despite the current interest rate being so low, there are still opportunities to be had from high interest savings accounts in the UK.

For easy access accounts, some high interest savings accounts in the UK can pay up to roughly 3.10 per cent, although terms and conditions will always apply. You can find out more about the variety of rates on offer at http://www.uknetguide.co.uk/Finance/Savings_Account_Search/.

It is always worth shopping around for different rates of high interest accounts in the UK as many of the best deals are only available to new customers. For this same reason, you may find it worthwhile to change your account every year or so as some providers only offer their top rate for the first 12 months.

If you are happy to lock your savings away for a year or so, there are even higher rates available to you, as can be seen at http://moneyfacts.co.uk/compare/savings/accounts/best-sellers-savings/. This website also has a handy guide of other things to think about when choosing your account, such as inflation and how long you are happy to lock your money away for.

In this current economic climate when times are tight and are not looking to improve anytime soon, high interest savings accounts in the UK could be the way forward.

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