How we select our best buys
Whilst there are many places for people to see “Best Buys” for savings accounts, it’s not always clear which type of account is appropriate or how those Best Buys are selected. These days, savings accounts are more and more complicated which means that choosing a safe-haven for your money can be like stepping through a minefield.
At Savings Champion we are passionate about savings and want to provide no-nonsense simple advice that can help everyone to pick a savings account with their eyes wide open.
Did you know that there are currently over 125 different providers, 5,000 savings accounts and 10,000 savings rates for us to check on your behalf? Savings Champion does the hard work for you.
We review the savings market daily to maintain our data of savings account rates. We select the accounts that we feel are the best available and put them into our Best Buy Tables.
We aim to produce the information in a clear format, to help you decide where to invest your money. We check to determine if the accounts are actually what they appear to be, and therefore whether they should appear on the Best Buy tables. For example, we may choose to not include an easy access account that only allows one withdrawal. This is a completely independent, uncompromised process. Some sites appear to be only displaying accounts where they are paid a commission; we guarantee our tables are compiled only on the merits of the account offering alone, however if you are still confused you can call us on 0800 321 3581.
However, once you have found the best savings account, a big problem for savers is keeping track of your savings accounts and making sure that you keep your money earning a competitive rate of interest. It’s generally the case that out of sight means out of mind, even with something as important as your savings. Our Rate Tracker offers the perfect solution.
Rate Tracker will let you know when the rates change on your savings accounts and suggests alternatives that may be more appropriate. If you tell us when you opened your account, we can also remind you when the bonus rate is due to end, or when your fixed term account is due to mature, and then let you know where you should switch to next. Banks and building societies are relying on your inertia and apathy.