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What are the Highest Paying Savings Accounts?

If your money has been in the same account for several years, the chances are that your cash isn't in one of the highest paying savings accounts. You may be receiving just 0.1%. If this scenario applies to you, it's essential that you trawl through the multitude of different accounts to secure the optimal return on your savings. If you fail to do this, your money is losing value in real terms.

ING Direct Fixed Rate Savings Accounts

ING offer some of the highest interest accounts for savers. You'll need to open a savings account with £1, and will earn an attractive 3% AER. If you want a better return, you can lock up your money for 12 months and receive 3.2% AER. Alternative, if you're able to tie up your money for 3 years, you can get 4% AER.  The 1 and 3-year accounts require a minimum £1000 investment. You can withdraw money early, but the penalty is the loss of 90-days interest.

West Brom WeBSave Easy Access

If you're able to invest £1000, you can enjoy a rate of 3.06% AER. If you need to get hold of some of you money, you can make up to 3 penalty-free withdrawals each year.

Nationwide MySave Online Plus

Invest £1,000 to £3 million and you'll receive 3.05% AER on your savings. If you need to get hold of your cash due to an emergency, you can make 1 withdrawal without penalty every 12 months.

Guide to Finding the Highest Paying Savings Accounts

Finding the best current account takes time. You could visit each website, make a note of the feature and compare each of them at the end of the day. It works, but you'll miss out financial institutions because you've never heard of them. The most efficient way of checking the market for a high interest current account is using a price comparison service. Just enter your criteria and all of the work will be done for you.

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