Student Savings > Bank Accounts vs Building Society

Savings accounts are available from a range of places, including banks, building societies and even supermarkets.

The main difference between the two different sectors is that building societies often have increased interest rates and are seen as places to invest money rather than spend it.

Hence many building societies provider an increased interest rate in exchange for depositing large sums of cash monthly or annually and leaving it in the account for quite some time.

Many people tend to choose bank accounts as they find them more appealing, and many banks often greater incentives when compared to building societies.