Why save my money?

Each companies savings accounts offer different benefits and reasons to invest, the customer must then make the decision to decide which account best suits their needs.

Some companies offer competitive interest rates where others offer bonuses or free gifts. For example, if an investor prefers a more personal organisation, where they can speak to an advisor or pay money in over the counter, a bank or building society may be more suitable than an online savings account.

There are also many different types of savings accounts to choose from which include: Instant Access, Notice, Mini and Maxi Cash ISAs.

Instant Access accounts allow the customers to invest as much money as possible, with the ability to have immediate access to their savings should they require and without penalty. However, interest rates are often lower in these kinds of accounts.

Notice accounts are similar, however you give the organisation notice of your withdrawals, this carries a slightly bigger interest rate.

Mini and Maxi Cash Individual Savings Accounts (ISAs) are available to those who are British Citizens and over the age of 16. They involve investing cash, stocks and shares or a mixture of both of up to £3000 per year. The interest rate is usually very high.