UK Net Guide Recommends  
recommended Account Interest
(AER)
Term Minimum Investment
AXA Self Investor stocks & shares ISA Variable None £50 per month or £500 lump sum
This week starting 24th November,  AXA Self Investor stocks & shares ISA is our Top Recommended Savings product after we have searched the uk savings market
 

High Interest Savings Accounts


Search for the best savings accounts online today. Find the highest savings rates quickly and easily. Then apply online.

 ISA Accounts
ProviderAccountInterest
(AER)
Notice
Period
Minimum
Investment
Hargreaves Lansdown Stocks and Shares ISA Variable Instant £25 a month
3 Year Cash ISAs 2.00% 3 Years £1000
120 Day Notice Cash ISA Issue 2 1.75% 120 days £0
1 Year Fixed Rate Cash ISA 1.5% 1 year bond £0
ISA Saver Online 1.25% none £0
Natwest Cash ISA 1% Instant £1
RBS Instant Access ISA 1% Instant £1
Shepherds Friendly ISA Variable Instant £30 a month
Shepherds Friendly ISA Lump Sum Variable Instant +£500 lump sum
The Fidelity ISA Variable None £50 per month or £500 lump sum
AJ Bell Youinvest ISA 0.05% None None
My MoneyMaker ISA Variable 1 month £10 a month
Nutmeg ISA Variable Free, anytime. Faster withdrawals for a small fee. £1,000

*The value of investments can go down as well as up. Your investment isn't guaranteed, so you may get back less than your original investment.
 High Interest Bonds
ProviderAccountInterest
(AER)
TermMinimum
Investment
5 Year Fixed Rate Savings Account 3.10% 5 Years £1000
5 Year Fixed Term Deposit 2.90% 5 Years £10,000
3 Year Fixed Rate Savings Account 2.70% 3 Years £1000
3 Year Fixed Term Rate 2.45% to 2.55% 3 Years £10,000 to £50,000
2 Year Fixed Term Rate 2.00% to 2.10% 2 Years £10,000 to £50,000
2 Year Fixed Rate Savings Account 2.00% 2 Years £1000
Scottish Widows Fixed Term Deposit 2.00% 3 Years £10,000
1 Year Fixed Term Deposit 1.80% 1 Year £10,000
1 Year Fixed Rate Savings Account 1.75% 1 Year £1000
1 Year Fixed Term Rate 1.55% to 1.70% 1 Year £10,000 to £50,000
Scottish Friendly Bond Variable 10 Years £25 per month
 Easy Access
ProviderAccountInterest
(AER)
TermMinimum
Investment
PostSave Easy Access (2) 1.4% none £0
Internet Saver 1.4% none £0
WeBSaveR 2 1.2% none £0
 Offshore Savings
ProviderAccountInterest
(AER)
Term /
Notice
Minimum
Investment
International Regular Saver 3% 12 month bond £0
Everyday Saver IOM 0.5% none £0
International Saver Issue 2 0.2% none £0
Instant Access 0.1% none £0
Euro Savings 0.1% none £0
US Dollar Savings 0.1% none £0
Fixed Term Deposits Up to 2.00% Fixed End Of Term £10,000
International Bonus Saver Account Up to 1.00% Gross* End Of Term £5,000
 Children's Savings
ProviderAccountInterest
(AER)
Term /
Notice
Minimum
Investment
Kid's Regular Saver 6% 12 month bond £10
Fixed Rate Regular Saver Issue 3 3.6% 1 year bond £10
Children's Regular Saver Issue 1 3.5% instant £5
Newcastle Big Little Saver 3% instant £1
Young Regular Saver 1st Issue 3% instant £1
Smart Limited Access 3% instant £0
Young Saver 3% instant £0
Dylan's Regular Saver Bond Issue 5 3% 3 year bond £10
Children's Bonds Issue 35 2.5% 5 year bond £0
Family Junior ISA 1.00-2.00% Age 18 £10 a month or £500 lumpsum
Scottish Friendly Child Flexible Plan Variable 10 Years £15 to £25 per month maximum
Scottish Friendly Child Bond Variable 10 Years £25 per month
Shepherds Friendly Young Savers Plan Variable Age 18 or 10 years, whichever is later. £7.50 per month
Shepherds Friendly University Saving Plan Variable Age 18 or 10 years, whichever is later. £100 per month
AJ Bell Youinvest Junior ISA 0.04% None None
 Notice Accounts
ProviderAccountInterest
(AER)
Notice
Period
Minimum
Investment
GE 100 Day Notice Issue 4 1.55% 100 days £0
60 Day Notice Issue 10 1.35% 60 days £0
State Bank of India Easy Access 1.25% Variable £500
30 Day Notice Issue 5 1.25% 30 days £0
90 Day Notice Gold 1.2% 90 days £0
30 Day Notice Savings Account Issue 2 1% 30 days £0
30 Day 1% 30 days £0
Natwest Instant Saver 0.50% Variable £1
 Regular Savings
ProviderAccountInterest
(AER)
Term /
Notice
Minimum
Investment
Adults' Fixed Rate Regular Saver (Issue 3) 3.3% 12 month bond £10
Furness Lifestyle Saver 2.55% instant £1
Regular Savings 2.25% instant £25
Monthly Regular Saver 2% 2 year bond £0
Regular Saver (Issue 1) 2% instant £0
Simple Regular Saver Issue 2 2% instant £10
Regular Saver 2% 12 month bond £25
Fixed Regular Saver 1.76% 1 year bond £25
Flexible Regular Saver 1.5% instant £20
Scottish Friendly Select Plan Variable Recommended 10 year term. £25/ month
Scottish Friendly My Select ISA Variable 5 Years £10/ month
Scottish Friendly Tax-Free Flexible Plan Variable 10 Years £15 to £25 per month maximum
Scottish Friendly MoneyBuilder Variable Recommended 15 year term. £15/ month

 

What is a High Interest Savings Account?

If you are planning to increase your money by putting your money into a savings account, you will always look for providers which offer you the highest, if not industry leading, interest rates for your money.

High Interest Savings Accounts are thus not a specific type of account, but special savings accounts that offer above-average interest rates tend to advertise themselves as the best option for you to pick in order to profit from your money savings by offering the highest interest rates.

Hence, high interest savings accounts include ISA accounts, High Interest Bonds, Easy Access Savings Accounts, Offshore Savings Accounts, Children’s Savings Accounts, Notice Accounts or Regular Savings Accounts.

Banks and building societies tend to pay the highest interest rates to new savers in order to familiarize them with the routine of saving and to attract new clients for other financial products. This means that it is likely that you start out with a high interest savings rate, which decreases the longer you keep your account.

Other bank accounts that offer high interest rates are so called High Yield Accounts, which are only offered to certain customers. They offer higher interest rates, as they require you to make a significantly larger deposit, keep a high balance over a longer amount of time and limit the number of transactions you can make in and out of the account to a minimum.

Drawbacks of only looking at High Interest Savings Accounts

Banks advertising their products as High Interest Savings Account do not always in fact offer the best rates and deals, even if they claim to do so. Hence, it is always worthwhile taking a closer look at other services offered, including standard current accounts.  

Keep in mind that a high interest rate is not all that makes a good savings account. As for all types of savings accounts, it is important to the check terms and conditions of your account in order to find the best deal for you and avoid hidden charges or fees.

This includes checking the number of times that you can make money withdrawals within a year, fees you need to pay for money transfers and the conditions that apply if you choose to take your money out of the account earlier. Also look at the conditions how you will operate your account, you might prefer talking to a person in a branch rather than organizing everything via phone or the internet.

How to choose a High Interest Savings Account

Online banks traditionally offer higher interest rates than other banks, since they have lower expenses and fewer personnel. If you are fine with or even prefer organizing all your funds online, which means that you are often unable to talk directly to a person in a branch, this is a good option to get a better deal and make the most out of your money.

Try and avoid interest rates that are artificially boosted and are only offered to you during an introductory period. It is likely that once this period expires, interest rates will drop significantly and other deals will become more beneficial for you. Also keep an eye on the expiry date of your introductory term, so that you can react quickly and switch early without losing better interest rate deals.

Consider switching to another savings account if you feel that you are currently not receiving competitive rates. Before you do, carefully check all offers made by banks and building unions before you choose a High Interest Savings Account for yourself. Shop around for the best offers and compare interest rates.

Think about the fact that receiving lower interest rates might be a necessary tradeoff in order to have other services that you require. If you want to access your money from oversees or make transfers in other currencies, other savings options such as an Offshore Savings Account or a tax free ISA account might be more suitable for you, even if they will not have the highest interest rates.

Generally evaluate your personal priorities and the overall benefits you expect from your savings account. This includes looking at the sums that you regularly want to put into your account as well as the accessibility.

Choose an Easy Access account if you want to access your money whenever you need it, rather than a regular savings account that might restrict your access. Look into Children’s Savings Accounts or Junior ISA’s if you are planning to put money aside for your child’s future.