With savings rates at rock bottom how do savers ensure they are getting the highest rate. Particularly when the bonus expires?

by , 1 year agoClosed Question

Most savers need the highest interest rate they can achieve, but that means keeping a close eye on rates and probably switching cash regularly between different providers. Is there an easy way to do this?

Answers (3)

Chosen as Best Answer

The savings comparison on this site is pretty good - http://www.money.co.uk/savings-accounts.htm - I used it earlier this month when my introductory bonus period ended. I added an entry to my outlook calendar to remind me to chance savings accounts.

by MrWallet, 1 year ago

It is best to look around. I have a nationwide isa, paid somthing like 0.25% interest. I never had much in it - but this year only getting 29p interest for the whole year made me look around. I now have an E-isa account and get 2.75% i received £4 in interest within 4 months of opening it - and had less money than in normal isa! I know it isnt going to pay much for the time being but better to have an extra £3.71 in my pocket than the banks!

by NTB, 1 year ago

I do what MrWallet does...I set reminders for just before bonuses run out, and I keep a close eye on what's on offer via comparison sites and the press. Most of my savings are in fixed rate bonds though, so don't need to be changed so often.

by fruitcake, 1 year ago

Posts within the money.co.uk community represent the views, experiences and opinions of members only. They should not be taken as financial advice and should not be followed without further research.

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