SAVINGS ACCOUNTS

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Putting money aside for the future – perhaps for retirement, a wedding or a large purchase such as a house – is something which many people choose to do. It makes good financial sense to prepare for the future and the unexpected as you never know when you might need access to some emergency funds. By placing that money into a savings account where it can earn interest, you aim for growth and accumulation over time. Savings accounts are viewed as a much 'safer' way to increase capital than through direct investment (such as share dealing). It is important that you take the time to research the market so use the table below to search and compare different savings accounts. The right account for you will depend on you and your particular savings needs. You have a variety of options as the features of savings accounts vary widely. Always make sure you fully aware of how the account can work for you and whether there are any fees involved.

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If you wish to speak to someone: Contact Us or Enquiry Line: +44 (0) 207 386 5300

PROVIDERACCOUNT

ACCOUNT

Account name

TYPE

TYPE

Account type

INTEREST AER

INTEREST AER

Annual Equivalent Rate

INTEREST GROSS

INTEREST GROSS

Gross interest is the annual rate of interest which is paid without the deduction of lower rate tax to eligible individuals and certain organisations

PAID

PAID

When the account pays out

ACCESS

ACCESS

How account can be accessed

MIN INCOME

MIN INCOME

Minimum amount in account

CONDITIONS

CONDITIONS

Conditions for investor

WITHDRAWAL ACCESS

WITHDRAWAL ACCESS

Where you can withdraw money from

FEATURES

FEATURES

Account features

MORE INFO

Aldermore 2 years Fixed Rate Savings Account
Aldermore 2 years Fixed Rate Savings Account

2 years Fixed Rate Savings AccountFixed Rate Account1.75% (1 year)ask on applikationDailyOnline, Post, Teln/aMinimum deposit £1000Not before maturityFeatures

Features

Free Banking: Yes
Debit Card: No
Cheque Guarantee Card: No
Standing Orders: No
Direct Debit: No
Overdraft Facility: No
Account Manager: No

Deposits of £1000 - £1m

Aldermore 2 years Fixed Rate Savings Account
If you have some money you would like to save for later you should protect it from the interest rate fluctuations by choosing a fixed rate savings account. Aldermore offers you a very secure and convenient place to let your money grow. Open your 2 years fixed rate savings account with already just £1000 – it’s easy and fast! DETAIL INFORMATION >>Services

Services

Online applications


Advantages

Advantages

1.No fees for day-to-day services 

2.Easy to set up 
3.Transparent


Disadvantages

Disadvantages

No deposits less than £1000 accepted

LLoyds Fixed Term Deposits Savings Account
LLoyds Fixed Term Deposits Savings Account

Fixed Term DepositsFixed Term2% - 4%2% - 4%YearlyOnline, Tel, Post£50,000You must be over the age of 18 years oldOnline, Tel, PostFeatures

Features

Free Banking: Yes
Debit Card: No
Cheque Guarantee Card: No
Standing Orders: No
Direct Debit: No
Overdraft Facility: No
Account Manager: No

Fantastic interest rates that go up over time.

LLoyds Fixed Term Deposits Savings Account
If you have got a saving plan, you know how much you would like to save and you need a comfortable way of achieving it, then then Lloyds TSB's Fixed Term Deposits Savings Account might be a great option for you. Earn up to 20.00% over 5 years. Lloyds TSB is one of the most highly respected banks in the UK so you know that your money will be well looked after. Always read the terms and conditions of any bank account in which you want to invest your money to make sure that you understand how it works. DETAIL INFORMATION >>Services

Services

Saving money in a currency other than sterling or a variable deposit service-choose between 1,2,3 and/or 5-year Fixed Term Deposit.


Advantages

Advantages

1.Earn up to 21.5% over 5 years with Fixed Term Deposits.
2.Complete the online form in just 15 minutes.
3.Your application will be reviewed within two working days.
4.You can open unlimited Fixed Term Deposits.
5.Choose between a 1,2,3 and/or 5-year Fixed Term Deposit.
6.If you want you can open a Fixed Term Deposit in a currency other than Sterling upon request.


Disadvantages

Disadvantages

1.You will need to have been living at your address for the last three years to apply.
2.You cannot apply if you do not have £25,000 to deposit into your account before three months after opening the account.
3.You will need to send supporting documentation.
4.You can't withdraw your money before the end of the fixed term

Shepherds Young Saver Plan
Shepherds Young Saver Plan

Shepherds Young Saver PlanChildrens AccountDependent on investmentDependent on investmentMaturityOnline. Post, Tel£0Under 16 years of ageUp to 25% of the value when the Child reaches 11 years oldFeatures

Features

Free Banking: Yes
Debit Card: No
Cheque Guarantee Card: No
Standing Orders: No
Direct Debit: No
Overdraft Facility: No
Account Manager: No

Due to the flexibility of the plan, you can choose a premium to suit you. If your circumstances change you can increase or decrease your premiums up to a maximum of £100 and a minimum of £7.50 a month, without penalty.

Shepherds Young Saver Plan
£30 Love2Shop gift card when you take out a plan today. Give your children a real head start. Our Young Saver Plan savings account lets you save up to £1200 a year TAX-EXEMPT with no tax to pay on the final lump sum and sickness benefits of up to £400 a month if your child is ill for 4 weeks or more. DETAIL INFORMATION >>Services

Services

At age 11 the parent/guardian may, on behalf of the child, withdraw up to 25% of the value of the child’s fund without reducing the value of the sickness benefit.


Advantages

Advantages

1. Flexible savings - Save from as little as £7.50 right up to £100 a month and vary your premiums to suit your circumstances.
2. TAX-EXEMPT growth and lump sum - You won't have to pay a penny in tax on the growth of the savings fund or on the final lump sum payout.
3. Sickness benefits for peace of mind - After the child's 5th Birthday, the parent can claim up to £400 a week in benefits to help cover the costs, if the child is ill for over 4 weeks.
4. You can make a withdrawal at age 11 - While the plan is designed to run for at least 10 years, parents or guardians have the option of withdrawing up to 25% of the fund when the child reaches age 11.


Disadvantages

Disadvantages

1. You may get back less than you have paid in
2. Early encashment penalties, which would reduce the amount of the final payout
3. Bonus rates vary from year to year depending on the performance of our investments and the amount of sickness claims experienced. In some years we may not pay out any at all
4. If money is taken out at age 11, this will reduce the amount the child receives at the end of the plan

Natwest Fixed Rate Bonds Savings Account
Natwest Fixed Rate Bonds Savings Account

Natwest Fixed Rate BondsSavings Bond1.10% - 1,35%1,10%-1,35%MonthlyOnline£0You must be over the age of 18 years oldNo withdrawals permitted until maturityFeatures

Features

Free Banking: Yes
Debit Card: No
Cheque Guarantee Card: No
Standing Orders: No
Direct Debit: No
Overdraft Facility: No
Account Manager: No

You will need to have a NatWest current account or instant access savings accounts (excluding all Cash ISA accounts) for the payment of interest

Natwest Fixed Rate Bonds Savings Account
The Natwest Fixed Rate Bonds are ideal if you don’t need access to your savings account. The Fixed Rate bonds offer you fixed rates of interest, a range of terms (typically for 1 and two year saving terms) and competitive interest rates – rates for fixed term bonds are generally better than the rates you will find with instant access savings accounts. DETAIL INFORMATION >>Services

Services

A range of terms - typically available for 1and 2 years


Advantages

Advantages

1. Save between £5,000 - £500,000 and leave it untouched for the term
2. Fixed rates of interest - you'll know in advance what your savings will earn
3. A range of terms - typically available for 1 and 2 year savings terms
4. Competitive interest rates - rates for fixed term bonds are generally better than the rates you’ll find with Instant Access Savings accounts


Disadvantages

Disadvantages

1. No partial withdrawals or additional deposits are allowed

Aldermore Easy Access Business Account
Aldermore Easy Access Business Account

Aldermore Easy Access Business AccountBusiness Account1.10%1.10%YearlyOnline1.000You must be a UK resident aged 18 or oveAnytimeFeatures

Features

Free Banking: Yes
Debit Card: No
Cheque Guarantee Card: No
Standing Orders: No
Direct Debit: Yes
Overdraft Facility: No
Account Manager: No

Easy acces saving account for businesses

Aldermore Easy Access Business Account
Earn a competitive rate and take control of your business cash the easy way! The Easy Access Business Savings Account offers safe and secure online banking round the clock, UK businesses can open it in a few simple steps without having to change their current bank account. Expert advice is provided whenever you need it. Easy convenient and secure plus numerous awards are advantages which speak for themselves! DETAIL INFORMATION >>Services

Services

Online opening


Advantages

Advantages

1.Competitive rate 

2.Fast and simple online account opening 
3.Easy to add or remove names or change user levels. 
4.Open an account with just £1,000. 
5.No fees or charges for day to day services


Disadvantages

Disadvantages

Charges for non-standard services

Aldermore Easy Access Account
Aldermore Easy Access Account

Aldermore Easy Access AccountEasy Access1,70%2%DailyInternet, Phone, Post£018 or overOnline, Phone, PostFeatures

Features

Free Banking: Yes
Debit Card: No
Cheque Guarantee Card: No
Standing Orders: No
Direct Debit: No
Overdraft Facility: No
Account Manager: No

1. Competitive interest rates 

2. Set level of interest guaranteed till 1 March 2013 
3. Fast and easy setup 
4. Minimum deposit £1k 
5. Access your savings any time 
 6. Withdrawal your cash whenever you want 
7. Easy to manage

Aldermore Easy Access Account
Don't want to lock your money away? Our Easy Access Account gives you full flexibility - so you can withdraw cash or add to your funds whenever you like. You get the reassurance your savings are there when you need them - along with a great rate, too. Always read the terms and conditions of any bank account in which you want to invest your money to make sure that you fully understand how it works and what your financial obligations might be. Savings accounts vary so take time to compare them as carefully as possible. DETAIL INFORMATION >>Services

Services

1. Full access to your savings account, 24 hours a day 

2. Optional Joint Account


Advantages

Advantages

1. Transparent - our competitive rates are not artificially inflated by bonuses or introductory offers 

2. Reassurance - our interest rate is guaranteed to be at least 1.70% above Base Rate until 1 March 2013 
3. Fast and easy setup - open an account, complete identity checks and move your money in minutes 
4. Accessible - open an account with just £1,000 
5. Flexible - add to your savings whenever you like 
6. Unlimited withdrawals - access your money whenever you need it, without restriction or loss of interest 
7. Easy to manage - do it online, by phone or by post


Disadvantages

Disadvantages

1. Minimum initial deposit £1,000 

2. Withdrawals Unlimited - A gross interest rate of 0.50% will apply if the balance falls below £1,000 

RBS Instant Saver
RBS Instant Saver

RBS Instant SaverSavings Account0.75%0.75%YearlyTel, Branch£0Over the age of 16Instant AccessFeatures

Features

Free Banking: Yes
Debit Card: No
Cheque Guarantee Card: No
Standing Orders: No
Direct Debit: No
Overdraft Facility: No
Account Manager: No

Branch or Telephone access

RBS Instant Saver
The RBS Instant Saver is perfect for you if you need a bit of extra help to reach your savings goals. With instant access to your month you can make a withdrawal whenever you choose. There are no withdrawal penalties, so you can take money out whenever you want. Watch your savings grow – interest is calculated daily and paid annually directly into your account. Take advantage of the online tools to help you set and reach your savings goals. DETAIL INFORMATION >>Services

Services

Access your money instantly - there are no withdrawal penalties, so you can take money out whenever you want


Advantages

Advantages

1. Access your money instantly - there are no withdrawal penalties, so you can take money out whenever you want
2. Watch your savings grow - interest is calculated daily and paid annually directly into your account
3. Manage your account your way! - online, in branch or by phone
4. Online tools - to help you set and reach your savings goals


Disadvantages

Disadvantages

1. The interest rate is variable, so it can go up as well as down 

Shepherds Friendly University Savings Plan
Shepherds Friendly University Savings Plan

University Savings PlanSavings AccountSee websiteSee websiteYearlyOnline£0When child is between 18 - 21 years oldWhen child is between 18 - 21 years oldFeatures

Features

Free Banking: Yes
Debit Card: No
Cheque Guarantee Card: No
Standing Orders: No
Direct Debit: No
Overdraft Facility: No
Account Manager: No

Your savings will be tax-exempt, and your child’s final lump sum(s) will be tax-free

Shepherds Friendly University Savings Plan
The Shepherds Friendly University Savings Plan premiums start at £100 per month, aiming to cover tuition costs and more. Your savings will be tax-exempt, and your child’s final lump sums) will be tax-free. Your child can take the money in one lump sum, or in multiple lump sums between the ages of 18 and 21. Applying for the University Savings Plan is quick and easy, and the whole process can be completed online. DETAIL INFORMATION >>Services

Services

Shepherds Friendly University Savings Plan offers you the chance to save for your child’s future on a monthly basis, tax-exempt. The plan is specifically designed to save enough to cover the costs of a university education and living expenses, and offers a unique withdrawal process when you child is aged between 18 and 21. If your child decides not to go to university, then the fund can be used to give your child a real head start, by providing them with a tax-free lump sum to get them on their way.


Advantages

Advantages

1. Our University Savings Plan premiums start at £100 per month, aiming to cover tuition costs and more
2. Your child can take the money in one lump sum, or in multiple lump sums between the ages of 18 and 21
3. Your savings will be tax-exempt, and your child’s final lump sum(s) will be tax-free
4. Applying for the University Savings Plan is quick and easy, and the whole process can be completed online
5. Your savings will be invested primarily in stocks and shares to increase the long-term growth potential
6. You can start a University Savings Plan for any child, regardless of other savings plans they might already have


Disadvantages

Disadvantages

1. How the investment performs may vary during the term of the Plan. Because of this the child could receive a higher or lower sum than you expect at the end of the plan and may not get back as much as you have paid in.
2. The amount of bonus paid each year is related to the investment performance of Shepherds Friendly’s funds and the total amount of sickness benefit paid out to all  customers who have this type of Plan. Therefore the bonus may fluctuate from year to year throughout the term of the Plan.
3. In poor investment conditions we may apply a Market Value Reduction (MVR). This could mean you get back less than you have paid in.
4. If the Plan is stopped and money is taken out at any time before the end of the Plan you will have to pay to do so. This cost could be more or less than the examples in this leaflet.
5. The tax treatment of these Plans could change in the future

Lloyds International Bonus Saver Account
Lloyds  International Bonus Saver Account

International Bonus Saver AccountOffshore Account0% - 0.9%%0% - 0.9%MonthlyOnline, Tel,Minimum £5,000Minimum age is 18ATM, Branch, OnlineFeatures

Features

Free Banking: Yes
Debit Card: Yes
Cheque Guarantee Card: No
Standing Orders: No
Direct Debit: No
Overdraft Facility: No
Account Manager: No

1. Minimum deposit £5,000 and €5,000
2. Currencies available Sterling and Euro

Lloyds  International Bonus Saver Account
The Lloyds International Bonus Saver is an offshore savings account with an interest rate of up to 0.9%, including an introductory bonus rate of 0.3%. The interest rates are tiered and you can have instant access to your savings account when you need it. With Lloyds you can rest assured that your money is safe. However, do make sure that you read the terms and conditions carefully to ensure that you understand the account. Compare different savings accounts in order to make sure that you choose the one which best suits you. DETAIL INFORMATION >>Services

Services

1. You can apply online or by post.
2. Access to your money 24/7 via internet banking


Advantages

Advantages

1. Interest is paid monthly
2. The International Bonus Saver Account offers tiered interest rates
3. You have instant access to your money 24/7 via internet banking and Offshore PhoneBank.
4. You can make new deposits into your account at any time.
5. You have instant access


Disadvantages

Disadvantages

1. This product is currently not available to Channel Islands and Isle of Man residents or existing Lloyds International Private Banking customers
2. You should think about a different account if you are earning in another currency or you want to put your savings away for a set time.

RBS Fixed Rate Bond Savings Account
RBS Fixed Rate Bond Savings Account

RBS Fixed Rate Bond 1 and 2 YearsSavings Bond1,10% - 1.35%1.10% - 1.35%MonthlyOnline£0You must be a UK residentNo withdrawals permitted until maturityFeatures

Features

Free Banking: Yes
Debit Card: No
Cheque Guarantee Card: No
Standing Orders: No
Direct Debit: No
Overdraft Facility: No
Account Manager: No

Competitive interest rates - rates for fixed term bonds are generally better.

RBS Fixed Rate Bond Savings Account
RBS offer a choice of 1 and 2 year Fixed Rate Bonds, enabling you to save between £5,000 and £500,000 in this savings account. This is worth considering if you do not need access to your money for the duration of the term. This account is available to personal RBS customers aged 18 years or over. Please note: no partial withdrawals or additional deposits are allowed. DETAIL INFORMATION >>Services

Services

A range of terms - typically available for 1 ans 2 year savings terms


Advantages

Advantages

1. Fixed rates of interest - you'll know in advance what your savings will earn
2. A range of terms - typically available for 1 and 2 year savings terms
3. Competitive interest rates - rates for fixed term bonds are generally better than
4. The rates you’ll find with Instant Access Savings accounts


Disadvantages

Disadvantages

1. You are not able to withdraw any money for the duration of the term.

Aldermore Notice Savings Account
Aldermore Notice Savings Account

Notice Savings AccountSavings Account3.00% (120 Day Notice)3.00% (12 Day Notice)DailyInternet, Phone, Post£018 years and over30, 60, 90 or 120 daysFeatures

Features

Free Banking: Yes
Debit Card: No
Cheque Guarantee Card: No
Standing Orders: No
Direct Debit: No
Overdraft Facility: No
Account Manager: No

1. 30 Day Notice - AER* 2.90% 

2. 60 Day Notice - AER* 2.98% 
3. 90 Day Notice - AER* 3.10% 
4. 120 Day Notice - AER* 3.20%

Aldermore Notice Savings Account
Want a great interest rate and added flexibility? Our Notice Savings Account gives you exactly that. Provided you stick to the notice period for withdrawing cash, you can make as many deposits and withdrawals as you like. Before you decide to invest take the time to make sure that htis is the savings account for you. Aldermore are very reliable but they do have different savings account options. Always read the terms and conditions in order to make sure that you fully understand how you are investing your money. DETAIL INFORMATION >>Services

Services

1. High interest Savings Account


Advantages

Advantages

1. Reassurance - the interest rate on our Notice Accounts are guaranteed to be at least 1.65% above Base Rate** until 1 March 2013 

2. Transparent - our competitive rates are not artificially inflated by bonuses or introductory offers 
3. Fast and easy setup - open an account, complete identity checks and move your money in minutes 
4. Accessible - open an account with just £1,000 
5. Flexible - add to your savings whenever you want 
6. Access - unlimited withdrawals, subject to notice and without loss of interest 
7. Easy to manage - do it online, by phone or by post


Disadvantages

Disadvantages

1. Minimum initial deposit of £1000 

2. Maximum number of account holders is 2 
3. Maximum deposit of £1 million

If you wish to speak to someone: Contact Us or Enquiry Line: +44 (0) 207 386 5300

Compare Savings Bank Accounts

What is a Savings Account?

Standard savings accounts are a really good method of saving for the future or preparing for any unexpected emergencies, but you want to make sure that you are getting the most out of your savings. In some circumstances the money you save builds up interest and the interest rates will be the main focus when considering a savings account. Savings accounts are designed to hold the money that you do not need immediate access to; these accounts will have higher interest rates.

You should make sure that you understand the restrictions of the account. In terms of disadvantages you may be charged for withdrawing money but in most cases you can withdraw money from a standard savings account at any time.

Information Regarding Easy Access Savings Accounts

There are also easy access savings accounts, also referred to as instant access accounts are ideal for those who want to put money aside but want to have direct access to their savings. As the name suggests these accounts permit you to access your money without notice or penalty. However, this instant access to your funds does reduce the interest in comparison to other savings accounts.

Some banks will offer good interest rates for these accounts to gain new customers, but will lower the rate shortly after so it could work in your favour if you are willing to move your money around in return for the best interest rates available. Consider whether the interest rate is fixed or variable before you open the account.

What is an Internet E-Savings Account?

If you are happy to manage your account online then you should consider an internet savings account which allows you to manage your savings online. The advantage of these accounts is that they are flexible and convenient; you can manage your account and make transfers whenever you like and you are always in control of your savings. In some cases they offer more competitive interest rates because of the lower administration costs involved but interest rates are variable so it will be worth your while to compare different accounts. There are often different advantages on internet accounts such as instant access or fixed rates so you should compare different services to find the best account for you. Please note that in order to withdraw cash you will have to transfer money into your current account but some may provide a cash card.

What are Fixed Rate Savings Accounts?

With a fixed rate savings account the interest rate is fixed for a set period and you cannot obtain your money during the set time; often the longer the set time the higher the interest rate. These accounts are a method of saving for the future because you will know exactly how much interest the money will earn. You also don’t need to concern yourself about the interest rate being reduced which is particularly comforting considering today’s economic climate. In some instances you may be able to make a withdrawal but if you do you risk losing some of the interest. Fixed rate accounts are designed for those who will not need access to their money for a few years.

However, although your interest rate will not drop you could miss out on any increase in interest rates. This means that there is a certain level of risk involved so it pays to search around to find the account with the best interest rate. Many fixed rate accounts will require a minimum deposit which can be high.

What are Term Deposit Savings Accounts?

Term Deposit Savings Accounts are designed for those who want to know exactly how much interest they are going to earn and for those who do not need access to the money during the term of the account. The interest rate is guaranteed and will not change throughout the term of the investment. Most term deposit accounts allow you to consider whether you want the interest paid monthly or annually and also how you want to have your interest paid. These accounts are flexible because you can chose the time period which is best for you which can be anything from one month to five years and you are also offered a variety of reinvestment options. In most circumstances withdrawals or additional deposits will not be permitted but you can hold more than one term deposit at anytime. Try to avoid accessing your money as you could lose the high interest rate. Usually, the longer the term set the higher the interest rate, so for short term investments these types of savings accounts may not be the best option.

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Aldermore Easy Access Account

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