best savings rate
What does the "best savings rate" mean?
How do I know if I have the best savings rate?
Best savings rates with Icesave
What does the "best savings rate" mean?
Best savings rate means having the highest interest rate in the whole of the market for a specific type of account. You can often find the best savings rate online. This is because online savings accounts tend to have a higher interest rate than other savings accounts which may be managed through a branch or by telephone. You do need to search quite hard for the best savings rate. However, there are many different ways to make finding the best savings rate easier, for example, you can use the Financial Services Authorities comparative tables or tables compiled by independent providers such as Moneysavingexpert, Moneyfacts, Moneysupermarket or Motley Fool. You need to be careful when looking for the best savings rate though as some comparative table providers may not cover the whole of the market or only promote savings accounts from providers that pay commission.
How do I know if I have the best savings rate?
The only way to be sure that you always have the best savings rate is to regularly check comparative tables compiled by independent sources. You also need to be careful that when looking for the best savings rate you are comparing like-for-like and there are no nasty surprises hidden in the small print. For example some best savings rates are boosted by an introductory bonus which hides a lesser standard interest rate. Some best savings rates also restrict the access you can have to your savings or penalise you heavily if you ever wish to make a withdrawal. As you can see there are many factors to consider when checking for the current best savings rate.
Best savings rates with Icesave
The best savings rates often change and it is unlikely you will always be able to benefit from the best savings rate unless you are prepared to regularly switch your financial provider. Whilst it is true that Icesave savings accounts regularly appear in best buy tables our aim is to offer consistently high interest rates on our savings accounts which are free from catches or penalties. For example our Easy Access Savings Account offers a high interest rate backed up by a long term interest rate guarantee. This means you can sit back and relax in the knowledge you are earning consistently high interest rates.
