Best Savings Accounts in the UK for 2024
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- čas přidán 5. 07. 2024
- If you want to make a money on your savings in 2024 then here are my top accounts paying the highest interest.
I've focused on the best easy access, best monthly savers and best tax-free options.
Our daily best buy savings tables on the blog:
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00:00 Finding the best rates
00:42 Best options for you main savings
04:50 Easy Access: Santander Edge Saver 7%
08:30 Easy Access alternatives up to 5.41%
10:57 Best options for adding to your savings
13:05 Regular Saver: Nationwide 8%
14:28 Regular Saver: First Direct 7%
15:08 Regular Saver alternatives up to 7%
16:24 Best options if you go over your tax free allowances
18:20 Tax-Free: Zopa ISA 5.08%
19:20 Tax-free: Virgin Money ISA 5.25%
20:00 Tax-free alternatives
20:35 Tax-Free: Premium Bonds 4.65%
12:08 Premium Bonds - 1% prize rate
A B O U T A N D Y
Andy Webb is a money blogger and journalist. He runs the award-winning website Be Clever With Your Cash, hosts the Cash Chats podcast, presented Channel 5’s Shop Smart Save Money and writes every month for Reader's Digest. Andy also founded the community ukmoneybloggers.com.
DISCLAIMER
Content in these videos does not constitute regulated financial advice. Any offers mentioned were correct at the time of filming.
All i wanna know, what's Best Savings Accounts in the UK that earns me the most on interest each month with, with no monthly charge.. thank you.
The easiest way to manage your money is to take it one step at a time and not worry about being perfect
Now with the recent economy, To get Financial FREEDOM you have to be making money while you're asleep.
Building a good investment portfolio is more complex so I would recommend you seek Jason appel support. This way you can get strategies designed to address your unique long/short-term goals and financial dreams..
@@Bryanj869 how is that done?
Excellent video. Thank you very much
Thoughts on Coventry Building Soceity Triple Access Saver? It's 5.15% interest and doesn't have a monthly deposit limit which is the type of account I'm looking for.
Thanks for the information.
Can you make top online savings app that you can open anytime
With the regular saver,can I start with lump sum in the account then top up the monthly required to max out the larger percentage interest it generates as compared to easy access savings accounts ?
Can't speak for others, but NatWest/RBS digital regular savers allow total deposits >£150 pm by using top ups
Thanks, HMRC are my best friend now.
So annoyed.
As you said - the reason the Edge Santander is good is, I’m sure partially, because they are trying to get people to move off their 123 products (which actually do better in terms of cash back as far as I know!).
Hiya Andy, I’m really struggling with opening up the Santander Edge Saver. To open up a Santander edge current account you need £500 deposited every month & 2 direct debits. I’m wondering if when I open the account and deposit £4k will the account be closed for not meeting the pre requisites. I have no problem with the £3 monthly fee, I just need some advice in this as the direct debits and £500 isn’t mentioned. Thank you
Flex regular saver is down to 6.5% now
Santander Edge - I have the account and have never paid in the monthly amount (or direct debits) stated so have never earnt cashback or been required to pay the account fee. This is compliant with the T&Cs so is quite a good loophole! Can't remember the exact details (there's an MSE forum thread about it) but happy to dig and share if anyone wants this account without the fees/cashback just to get the 7% saver.
Sounds good, do you need a current account or can you just open up and account and start saving?
Yeah how
Is there an account that I can lock and not spend?
Can you make an update video on credit cards?
Does anyone know if the £500 to get the better Metro rate has to stay in the account? Or can it just be transferred in and back out? Thanks 😊 8:57
I think you just need £500 in your account by the end of 28 day period
Hi, i was wondering what is your opinion on Revolut savings account?
Thieves
@@Bereal711 ah
All I want to know is what is the best savings account going on about mobile phones holidays it’s just a total waste of time
I have a question:
I have multiple ISAs, a managed Stock and Shares, a LISA and I am considering opening the Zopa cash ISA.
does that mean that the £20K limit would be the total of these 3 accounts?
Atom great service and good rates.
Rates are crazy how up and down they are, wev only just got up to half decent 5% savings rates which is not high historically but soon they are going to be coming down again to 3/4% after only 6 months or so! so much up and down very unstable
I’m about to sell my house for about £250k and need to set up three different accounts (as I believe you’re insured for up to 85k per bank if they close up). Thing is I dont want to necessarily buy another house just yet - I want to save the £250k for about 12months or so. Any advice how I should best invest money from my house sale in April 2024? Thanks
2023 or 2024? 😉
Thanks. Very insightful, but makes me even more confused. As a semi recently forced pensioner, I've got money ferreted away in multiple places, some tax free ( ISA & PB's ) & the rest taxable. I've heard that as a lower tax payer, I can earn up to £5000 in Personal Savings Allowance. Have you covered this & if so, can you add the link? Thanks
Government uk confusing.
Gary, please explain what the restrictions are on profit from a normal ISA, surely non as tax free? Stock and Shares ISA funds and profit at risk!
Your pension is taxable. Max out your ISA before 22/23 tax year. Then start another one after 6/4/24 for tax year 23/24. You can do a transfer form if your last ISA rate drops. Stocks and Shares ISA are risking your savings which is why the Government promoting the them. As a pensioner you need safety to live your golden years without risk and a quick buck. Our Chancellor is an idiot.
I'm a die hard. I was given a max of a year to live back in Jan 2022, so when I was laid off, took the max lump sum, min pension ( about £1100/m ). I've already max'ed out the ISA, as the interest is tax free. Also max'ed out PB's as again, any wins are tax free. Agreed, the pension is taxable, but I believe you can earn up to £6000 savings interest before paying tax, up to £18 570 including pension?@@samantha392
@@samantha392You pay no tax on any interest gained in an ISA. That's the whole point of an ISA.
Barclays Blue rewards is £5 monthly fee not £2 monthly fee. Come on Andy ... Thumb up as always. Andy where were you 15-10 years ago when i needed this stuff more than today?
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Great video yet again. Where would you invest 80K in 2024? Thanks
Gold and silver or in index funds in the stock market
@@malahari123what about in a high interest account ?
Worth saying that for the Natwest 6.17% regular saver... even though it says "Max £150 a month" you can put round ups in there which can be added on to the £150 cap. You can also double round ups so it gets an extra £80-100 for me each month. So technically isn't a monthly limit (but would take alot of effort/transactions to ger HUGE amounts in there) and you can earn that interest for over a year as you state (variable % I know)
@Munchman please can you explain the "huge amount of transitions". How much should I put in to get £80/100. Thanks.
@rosabennett9295 hello! Sorry I meant transactions. But sounds like you're aware of the round ups feature on the natwest app?
Just incase you're not, let's say you spend £2.60 on something, 40p will go in to your regular saver (and this leaves your current account, so -£3 from current account). There is an option to "double round ups" which in that case would add 80p to regular saver.
As mentioned, these can be added on top of your £150 and with me spending as normal on my natwest card (groceries, social stuff, etc.) it adds around £80 per month just on round ups (I have double round ups on).
In terms of "huge" I meant that you could theoretically have A lot of small transactions, e.g buy something for 30p (70p in saver (or £1.40)) then another 40p item ( 60p in (or £1.2] etc... ) but that isn't practical really.
Edit: sorry for the long message, what I do is transfer £150 into regular every month on 1st, then I have "double round ups" switched on which means I get an extra £80-100 in every month which gains the interest.
Is Natwest worth it?
@lukero5502 I like Natwest, I mainly joined for swith offer but it's doing well. I also use Chase though for the cashback (although natwest offer cashback with some brands). Natwest doesn't ever seem to rated as one of the highest from places like Clever with your cash but works for me
@@Munchman1 thank you for your response! Very helpful:)
I am surprised that some people still have money to save after taxes, enormous bills, mortgages. I wonder if I need to change my career.
Any tips of what pays amazingly well ?
The “profit first” book
Why is Trading 212 not included in this list with it's 5% AER in it's stocks and shares ISA account?
It’s not a saving account per se, they just invest any money that’s not invested into a money market fund
That’s how banks make money off your money anyways
But yeah I’m parking my savings on t212
@arandomskeleton Same, nothing on his list compares to Trading 212. The fact they pay the interest daily means you earn interest on your interest from the next day.
You can get more in the best saving accounts? Over 5% currently. Lots of choice.
@mikewallace1723 Yeah but they don't pay interest daily like Trading 212 does. So your interest earns interest pretty much from the next day. Most banks pay every month.
£4000 max?! Teaser rate for small balance.
Plum?
Look at the trust pilot ratings of some of these they’re all bad rating . It’s not worth it if it’s really difficult to set one up or the company is useless .
I use paragon 5.5 % , no max money in , allowed 2 withdrawals without the rate dropping
What account is this?
🙌🏽🇬🇧
In your view, is Virgin Money's 5.25% savings account SAFE? ... Is Virgin Money a safe company to having savings in ?
I think they are virgin has been about for a long time, and am thinking of going with them myself.
You can check if the bank/account has a Financial Services Compensation Scheme, where your cash is protected up to £85k if the bank goes bust.
absoutley lol about arms dealing . my local council were investing in arms (fact) . acording to the definition of terrorism everyone in the city were complicit in terrorism, ignorance is no excuse
I am so looking forward to the new tax year so I can have a Zopa cash isa.
Same!
Why Zopa???
@@MDRashid0509 X2
How does monthly interest work ? I had over £12000 in my savings and only got £5 in my first month at 4.09% ? I thought it was work out the percentage and divide by the amount of months (12) so I should of got around £40 interest? But got 5 wtf 😂
And before anyone asks there is no max deposit that’s why I use it , otherwise I’d of gone for a higher percent
What bank are you with?
@@jay-leeofficialcctv this was Halifax saver but I changed to paragon now as it’s better percentage and Halifax wouldn’t tell me why I didn’t get my full interest amount .
I’m guessing it’s because most of the money was put in a few days before the interest day but still there is no terms and conditions what say you can’t put money in that late
"Show me The Money..."
Be very careful this year.. any large savings not needed, put your money into GOLD & Silver to protect its purchasing power..Bank fees 🙄 also just be aware Private Pensions are also not a good prospect for the future curtently..
I hate money...
It’s 💩 isn’t it
Thanks for the informative video!
I want to do a one-time lump sum deposit,
If the interest rate is high on Easy Access Cash ISA, Which one is better Easy Access Cash ISA or Fixed Rate Cash ISA?
Shawbrook Bank 1 Year Fixed Rate Cash ISA (4.98%)
Moneybox Easy Access Cash ISA 5.09%