Best Savings Account In UK?
Is your savings account paying you around 6.50%? No? Neither was mine!
Having discovered my rate was far behind the market leaders, I investigated further. And was shocked to find my bank (Egg) were even paying their new customers a better rate than loyal existing customers (hey, isn't there even a TV advert making fun of just that kind of dinosaur banking?!). But even that rate didn't make it the best savings account in the UK, it was just quite a lot better than I was getting.
So, I asked if I can be put on the higher rate. They said I can't have the higher rate because I'm not a new customer. So now I am a new customer, with a different bank. And instantly my savings interest rate has made a massive jump from 4.75% to 6.50% (that's 37% higher) with all the same conveniences of online banking etc. It was very easy to move, I just wish I'd moved sooner.
So please double check what interest rate your bank is giving you. And if it isn't anywhere near 6.50% then clearly they don't value your custom as much as some other banks do.
Here's some of the best savings rates we found:-
Alliance & Leicester eSaver
Rating:
The eSaver savings account from Alliance & Leicester offers a market leading rate of 6.50pc (AER) on balances from just £1. Interest is earned daily, and paid to you monthly. And you can manage your account securely online (using A&L's award winning online banking).
- Best Current Account Provider 2006-2008 - MoneyFacts Awards (the best selling personal finance magazine in the UK)
For more details or to apply online now click here for the Alliance & Leicester eSaver savings account
Capital One Easy Access
Rating:
Capital One are better known for their credit cards, but their Easy Access savings account has snuck in with a rate right up there with the very best, currently offering 6.50pc (AER). Note: make sure you keep a minimum balance in this one of at least £500 or the rate plummets.
For more details or to apply online now click here for the Capital One Easy Access savings account
Birmingham Midshires e-Saver
Rating:
Birmingham Midshires have been a bit cheeky with their e-Saver account, as they are currently offering a rate of 6.52pc (AER). That extra 0.02pc makes virtually no difference to you of course, but does help them sneak to the top when charts are ordered by interest rate ;-). Incidentally, even on a £50,000 balance that 0.02pc only actually makes an extra £8 difference!
For more details or to apply online now click here for the Birmingham Midshires e-Saver savings account
Remember to look at our Cashback Credit Card reviews
