Looking for the best simple savings account

Maybe you are put off by online banking or just want a simple savings account you can operate with the minimum of fuss. While interest on your savings is important, some people are more interested in having easy access to their money then gaining the odd percentage point in interest.

Nationwide currently offer a basic, simple savings account with an interest rate of around 3.08% AER. You can withdraw from the account without penalty, however if their are further withdrawals you may be subject to a penalty fee. This is an easy savings account and designed for the sort of person who wishes to deposit their savings and forget about them. The Post Office also offer a simple savings account which has no notice for withdrawals required and you can withdraw as much as £300 per day. Their interest sits at about 3.00% AER and is totally online, making it suitable for the internet savvy who wish to have a simple account online.

Easy access savings accounts offer you the chance to withdraw your money at short notice without losing out too much on the interest. These types of accounts are ideal for the person who wants a simple savings account but doesn't want to compromise the interest too much. You do have to scan the small print for details of any hidden charges, however this goes for any financial agreement. The National Westminster bank currently offer a 2.80% AER interest rate on their standard savings accounts. You can withdraw daily up to a specified limit and there are no penalty fees. You can also request an overdraft facility after keeping your account for longer than 12 months.

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