High Interest Savings Accounts, Compare Saving Accounts
High Interest Savings Accounts
High Interest savings accounts are used by savers to store their savings, and to earn interest in that money, at the highest rate possible. There are many different ways to invest your money, some of which are higher risk than others.
High interest savings accounts are one of the lowest risk ways of investing money, although returns can be limited, especially at a time when interest rates are low, because the Bank of England base rate has been at a record low of 0.5% for over two and a half years.
There are also several different types of high interest savings accounts, with some allowing you to withdraw your money instantly, while others have your money tied in for a certain period, or charge you if you need to withdraw it early.
Types of savings account
Instant access savings accounts provide a savings account which allow you to access and withdraw your savings whenever you need to. As a result, they tend to offer a slightly lower rate of interest than an account where you must keep your money for a certain period of time, as your savings account provider has no guarantee that you will keep your money invested in the long term.
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Jump is a savings plan for children that invests in Witan Investment Trust, a well-known and leading global equity investment trust. If you are thinking of setting up a children's savings plan we believe you should consider Jump for the following reasons: see Savings accounts for children Jump Savings