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 8th February,  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
My MoneyBuilder (ISA) Variable 1 month £10 a month
Hargreaves Lansdown Stocks and Shares ISA Variable Instant £25 a month
Help to Buy: ISA 4% instant £0
Help to Buy: ISA 3% none £0
Online 3 Years Cash ISA Fixed Deposit 2.3% 3 year bond £0
3 Year Cash ISAs 2.00% 3 Years £1000
Online 2 Years Cash ISA Fixed Deposit 2% 2 year bond £0
Defined Access E-ISA Issue 4 1.51% none £0
Online ISA - Easy Access Issue 4 1.45% none £0
RBS Instant Access ISA 1% Instant £1
Natwest Cash ISA 1% Instant £1
Nutmeg Stocks and Shares ISA Variable n/a £1,000
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
Stocks and shares ISA Variable None £25 a month

*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 3.15% 5 Years £5,000
Fixed Rate Savings Account 3.15% 5 year bond £0
5 Year Fixed Term Deposit 2.90% 5 Years £10,000
Baroda MAX 4 Year Fixed Rate Bond 2.65% 4 year bond £0
5 Year Fixed Rate Savings Account 2.50% 5 Years £1000
3 Year Fixed Term Rate 2.46% 3 Years £10000
3 Year Fixed Term Rate 2.45% 3 Years £1000 to £50,000
3 Year Fixed Rate Savings Account 2.40% 3 Years £1000
3 Year Term Deposit 2.30% 3 Years £10,000
2 Year Fixed Term Rate 2.15% 2 Years £10,000 to £50,000
5 Year Fixed Term Deposit 3.04% 5 Years £2,000
2 Year Fixed Rate Savings Account 2.10% 2 Years £1000
3 Year Fixed Term Deposit 2.50% 3 Years £2,000
Scottish Widows Fixed Term Deposit 2.00% 3 Years £10,000
1 Year Fixed Rate Savings Account 2.0% 1 Year £1000
Baroda MAX 1 Year Fixed Rate Bond 2% 1 year bond £0
15 month fixed term deposit 1.30% 15 months £1,000
30 month fixed term deposit 1.50% 30 Months £1,000
12 month fixed term deposit 1.25% 12 Months £1,000
24 month fixed term deposit 1.40% 24 Months £1,000
7 Year Fixed Term Deposit 3.12% 7 Year £2,000
6 Month Fixed Term Rate 1.56% 6 Month £10000
1 Year Fixed Term Rate 1.40% 1 Year £10,000 to £50,000
Scottish Friendly Scotttish Bond Variable 10 Years £25 per month
 Easy Access
ProviderAccountInterest
(AER)
TermMinimum
Investment
Freedom Savings Account 1.65% none £0
Easy Access - Issue 2 1.45% none £0
Defined Access Saver Issue 4 1.41% instant £0
Online Saver Issue 18 1.3% none £0
Saving to Buy 1.3% none £0
Easy Access Issue 9 1.25% none £0
E-Saver 1.25% none £0
Online Instant Access Savings Issue 4 1.25% instant £0
 Offshore Savings
ProviderAccountInterest
(AER)
Term /
Notice
Minimum
Investment
International Regular Saver 1% 12 month bond £0
Instant Saver 0.75% none £0
Instant Saver 0.75% none £0
eSaver (Issue 4) IOM 0.7% none £0
Everyday Saver IOM 0.5% none £0
International Reserve 0.25% none £0
Instant Access 0.2% none £0
Euro Savings 0.2% none £0
 Children's Savings
ProviderAccountInterest
(AER)
Term /
Notice
Minimum
Investment
Kid's Regular Saver 6% 12 month bond £10
Children's Regular Saver Issue 1 3.5% 12 month bond £5
MySavings 3% instant £0
Smart Limited Access 3% instant £0
Dylan's Regular Saver Bond Issue 6 3% 3 year bond £10
Children's Regular Saver (Issue 2) 3% instant £1
Young Regular Saver (1st Issue) 3% instant £1
Newcastle Big Little Saver 2.51% instant £1
Children's Bonds Issue 35 2.5% 5 year bond £0
Young Saver 2.25% instant £0
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
Scottish Friendly Child Bond Variable 10 Years £25 per month
 Notice Accounts
ProviderAccountInterest
(AER)
Notice
Period
Minimum
Investment
90 Day Notice (Issue 6) 1.6% 90 days £0
60 Day Notice Issue 1 1.55% 60 days £0
95 Day Notice Personal Savings Account Issue 21 1.5% 95 days £0
60 Day Notice Issue 12 1.45% 60 days £0
30 Day Notice Issue 1 1.4% 30 days £0
30 Day Notice Issue 5 1.3% 30 days £0
Natwest Instant Saver 0.50% Variable £1
 Regular Savings
ProviderAccountInterest
(AER)
Term /
Notice
Minimum
Investment
Furness Lifestyle Saver 2.05% instant £1
Regular Saver 2% 1 year bond £1
Simple Regular Saver Issue 2 2% instant £10
Regular Saver (Issue 1) 2% instant £0
Regular Saver 2% 12 month bond £25
Regular Saver Bond Issue 16 2% 1 year bond £20
Regular Savings (Issue 3) 2% 1 year bond £10
Monthly Regular Saver 2% 2 year bond £0
Monthly Saver 2% 12 month bond £25
Fixed Regular Saver 1.76% 1 year bond £25
Scottish Friendly MoneyBuilder Variable Recommended 15 year term. £15/ month
Scottish Friendly My Select ISA Variable 5 Years £10/ 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.