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The top 10 savings accounts in the UK

There are currently some great savings accounts offering excellent rates. The following are the top 10 savings accounts in the UK.

  1. ING Direct Savings Account - this account has an annual equivalent rate (AER) of 3.1%. Interest is paid monthly and there is easy access with no charges for withdrawing your money. The minimum investment is just £1.
  2. Santander eSaver - this savings account has an AER of 3.1%. Interest is paid either monthly or annually. You have easy access to your account both online and over the telephone.
  3. HSBC 6 month fixed rate saver - this is a fixed rate bond with an AER of 2.35%. The minimum investment is £2,000 and the maximum is £100,000. The term is for 6 months.
  4. Northern Rock fixed rate e-ISA - this is a cash ISA with an AER of 3.8%. There is a minimum investment of £500. Transfers in are accepted and withdrawals are allowed subject to a loss of interest charge.
  5. Nationwide - this is an online ISA with an AER of 2.75%. Interest is paid yearly. There is a minimum balance of £100 and a maximum of £5,100.
  6. SAGA Internet Saver - this savings account has an AER of 2.75%. Interest is paid either monthly or yearly. To open this account you must be 50 years of age or older.
  7. Natwest e-ISA - this account is a cash ISA with an AER of 2.5%. Interest is paid monthly and transfers in are allowed. The minimum balance is £1 and the maximum is £5,100.
  8. Cahoots 2 year fixed rate bond - this bond has an AER of 4.01%. The minimum investment is £25,000 and the term is 2 years. You have immediate access to your money once the account matures.
  9. Leeds BS online access account - this is an easy access online savings account. The AER is 3.05% and the minimum investment is £100. Unlimited withdrawals can be made without notice or loss of interest.
  10. Lloyds TSB cash ISA saver - this ISA has an AER of 2.35%. Interest is paid yearly. Because it is an ISA you do not pay tax on the interest earned.

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