Are you looking for a return on your money? If so, this UK Savings help guide could be ideal for you! Our team are regularly searching for the best ‘deals’ and ‘offers’ from British banks and building societies.
From regular saving accounts to bonds and lots more! There’s something here for everyone. In the modern era, when money is tight, investing and saving can sometimes be a fruitful option, after all, if you have ‘spare money’, why shouldn’t you try and maximise its returns?
In this section, you’ll find a wide range of helpful and informative articles, guides, money tips, financial tricks and more! So, what are you waiting for? Let’s get started!
What type of Account?
It can be hard to understand which British savings account is best for your requirements, after all the UK savings market is ‘flooded’ with so many different options! Generally, there’s several factors which need to be considered, this includes if you’ll pay tax on any interest earned, what type of access you require and the length of a UK savings account.
Here’s a list of some of England’s common saving accounts:
- Instant-access savings accounts
- Regular savings accounts
- Fixed-rate bonds
- Child trust funds
- National savings and Investments (NS&I)
- Index-linked savings accounts
- Premium bonds
- Credit Union savings accounts
- Sharia savings accounts
- School fee plan
- Innovative finance (peer to peer lending)
As you can see, there’s a lot of different options to choose from. Please click on one of the links above to find out further information!
What else should I know?
Lots of people want to save money, whether it’s for a ‘rainy day’ or for a major life event, such as a world cruise, home improvements, weddings, buying a house and so on.
Of course, most people save to gain interest on their money. However, interestingly the interest rates on UK Savings Accounts in 1960 were 3.38%, by 1980 they were 10.50% per annual, with a height in 1990 at 13.56%. Over the last decade or so, the UK interest saving rate has been historically low, in 2017 it was 1% and in 2016 it was 1.23%.
Did you know? The first idea of a saving institution was developed in England in 1697! However, it wasn’t until 1765 until the first ‘known’ record of saving bank was verified in France. The first chartered savings bank was in the United States of America in 1816 and postal banks soon followed in 1861.
Today you’ll find most UK banks and building societies offer a wide range of saving options. Some will have great incentives to entice new customers in, however, as with most things in life, you should always ‘read the small print’ before signing up. What may sound like a good deal to begin with, might not be so great further down the line.
In each section of this website, you’ll find some of the best deals in the UK, remember our team are constantly looking for great offers, which should appeal to people up and down the nation.