Are you getting 5% on your savings?

14th April 2525

Let us show you how to get 3.43% to 5% on your savings of £2,000 to £80,000; easy access and risk free.

Or if you have over £100,000 download 7 Pitfalls for Larger Savers and How to Avoid Them our FREE guide which shows you how to get the best interest rates forever.

With record low interest rates, savers have really suffered over the last few years, especially following the government’s launch of the Funding for Lending Scheme in July 2012.

Even though the scheme has now been re-focused to business lending, it has allowed Banks and Building Societies to recapitalise; the effects of this have been disastrous for savers. 

Desire from providers to pull in new savers has all but disappeared and competition has dried up in the market. The chart, displayed left, highlights how this has affected best buy rates.

However, the savvy savers among you may know of a little trick to get the best returns on the market - spread your money between the top paying current accounts and you could maximise your returns, without switching your current bank account. 

 

High interest current accounts have become the beacon of light for savers as standard savings account rates have plummeted to record lows.

High Interest Current Accounts:

    • Are quick and simple to open online
    • Don’t require you to switch your existing current account
    • Pay up to 5 % AER
    • Give you easy access to your savings 

What is SavingsChampion.co.uk               

Savings Champion is the only specialist savings company that provides whole of market unbiased advice, services and savings data.

"SavingsChampion.co.uk is the best innovation in savings I have seen in recent years – comprehensive rate tracking, coupled with unbiased help in finding better deals is exactly what savers crave"

- Dan Hyde, Deputy Personal Finance Editor, Telegraph Media Group 

For savings of less than £89,000 simply use the table below and click on the provider names to find out more about the accounts that are best for you based on your deposit size. 

Provider

AER
Rate

Accounts
Per Person

Deposit Per
Account

Do I Need to Switch My Current Account?

Nationwide BS

5%*

2**

£2,500

No, just deposit and immediately withdraw £1,000 per month.***

TSB

5%

2

£2,000

No, just deposit and immediately withdraw £500 per month.***

Clydesdale Bank

4%*

2**

£3,000

No, just deposit and immediately withdraw £1,000 per month.***

Lloyds

4%

2**

£5,000

No, you have to set up 2 direct debits and either pay in £1,500 per month or pay a £5 monthly fee.***

Santander

3%

2**

£20,000

No, just deposit and immediately withdraw £500 per month, and setup 2 Direct Debits.***

Bank of Scotland

3%

3

£5,000

No, just deposit and immediately withdraw £1,000 per month.***

Overall Rate

3.43%

13 Accounts

Maximum Balance £80,000

 

"SavingsChampion is a great website for the beleaguered saver. Independent, unbiased and informative!" 

- Jeff Prestridge, Mail on Sunday

The rates above are without exception the best easy access rates in the whole UK savings market.  For rates on other accounts please see our best buy tablesOur best buys are selected from the best available, not by any commercial arrangement!

We'll even regularly deliver them directly to your inbox for FREE. 

*The Nationwide account includes a bonus of 3.89% for 12 months.  The Clydesdale account includes a bonus of 1.95% paid until 31/05/2015.  To ensure you are aware of rate changes to these and your other accounts you can use our FREE market leading Rate Tracker© service.

**The second account must be a joint account.

***Setting up standing orders is an easy way to ensure you deposit and withdraw the qualifying amounts each month.  These can be usually setup in under a minute online or in branch.

Using the table above you could open a total of 13 accounts and get an overall rate of 3.43% AER on deposits totalling £80,000. However, you should be aware that opening a current account can leave a footprint on your credit score and opening multiple accounts, even with the same provider can be a bit labour intensive. If you have over £100,000 and want to know how to get the best interest rates forever please feel free to call on 0800 321 3581 or find out how with our FREE guide to the 7 Pitfalls for Larger Savers and How to Avoid Them.

 

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