When trying to save it is important to first find the right savings account for your needs, there are many ways to make saving simple.

There are many options for savings accounts, below you can find out how each type of account can help you save.

Easy Access

You will be able to draw your money out whenever you like, this type of account allows you the freedom to know your money is there whenever you need it.

A great choice for those beginning their saving journey as man accounts offer the highest interest rate on balances of under £5000.

Find the right easy access account for you.

 

Fixed term

You will decide a term length, either 2 or more years and you will not be able to withdraw your money until the term is over. This is a great option if you are saving for something big and know when you will need the money. A fixed term account also means you will not be able to give in to temptation and spend any of this money.

Find the right Fixed term account for you.

Notice accounts

You will have access to you money but only when you give a notice to the provider of when you will need the money. You will need to prepare in advance and tell them in 6 months you will need to withdraw X amount of money from your account. This is a great option if you want to keep your money from being spent regularly and if you know when you will need money.

Find the right Notice day account for you.

Regular Savings accounts

Setting up a regular savings account means you could earn a higher interest rate however you may need to set up a current account with the provider before you are able to have a savings account. Regular savings account often have a maximum monthly deposit meaning you can only put small amount in at a time. These are a great way to save smaller amounts and will work well if you are just starting your savings journey. This is also a good option if you are thinking of setting up a junior account for your child.