Take control of your financial future, open or switch your savings account today.
When it comes to savings accounts the longer you save, the more you generally get back. Unlike a current account which can be used for bills and everyday purchases, a savings account let’s you safely put your money away, building interest for a big purchase or rainy day.
We analyse savings accounts from all major banks and building societies – Meaning you’ll have more options to choose from when you compare with QuoteSearch.
Popular savings account options
Easy access
This type of account is suitable if you’re saving for a short period of time, or need to make withdrawals regularly. There is often a limit on the amount of withdrawals you can make in a year.
Individual savings (ISA)
Get even more from your savings with an ISA. There are a few different types of ISA available, however they all offer the same tax-free interest payments on savings up to £20,000.
Notice account
The rates on a notice account tend to be higher than those offered on an easy access account, but you will need to let your provider know in advance when you want to withdraw from your savings.
A few things to know about savings accounts
- First-time buyers might want to consider a Lifetime ISA which gives a 25% boost to your savings
- If you have children, building a nest egg with a Junior ISA could lock money away until they are 18
- Having a savings goal in mind can help when it comes to finding the most suitable accounts
- If you plan on regularly dipping into your savings, a regular current account may be better for you
Your common savings account questions, answered
How quickly can I access my money?
The different types of savings accounts have different rules about how quickly you can access your money. If you need the money to be readily available an easy access account may be better suited for you. However, if you plan to leave your savings for longer, a fixed rate or notice account could give you a better interest rate.
Can I open a savings account if I’m claiming universal credit?
Yes, in fact the UK Government has setup the Help to Save scheme, which is designed to help people with low incomes save – Giving 50p for every £1 you save over 4 years.
What do I need to apply for a savings account?
To apply for a savings account in the UK you must be able to provide documents to prove your identity and address. A passport or driver’s license as well as a recent utility bill, bank statement or tenancy agreement are the most commonly requested.
How safe are my savings?
Saving has never been safer. Should anything happen The Financial Services Compensation Scheme (FSCS) offers protection, up to £85,000 for each bank that you have a savings account with.
Finding the right savings account is quick and easy with QuoteSearch
Our cutting-edge technology compares accounts and features directly from leading providers. We also have experts just on the other side of the phone to discuss your individual needs.
Our service is completely free and there’s no pressure to take out a policy. We’re 100% independent and FCA regulated, meaning you can proceed with confidence.
