Best savings Account - Compound Interest

Zanderman

matthewjames28 said:

Thanks. Looking to put money into stock market which I have started. And some in savings with decent returns in the future.  

matthewjames28 said:

Just done a quick calc, are these worth doing, not a great return but guess it can be kept in there for years more. Or am I incorrect as it’s a home deposit saver?

If you think 2.45% is not great or a decent return you're going to be very disappointed!

2.45% is, at present (and the foreseeable future), a great return.  If you're looking for a decent rate you won't find much better than that.   But as this particular one is only available for house deposits you'll have to look elsewhere.

The only similar rates (up to 2.75%) are other regular savers (though beware that most of the money you put into these will be there less than a year so the annual interest rate will be applied according to how long the money's been there - so the return may be less than you think).  See the info here: https://www.moneysavingexpert.com/savings/best-regular-savings-accounts/

Or you can get up to 1.6%, maybe a bit more, in fixed terms savers such as these: https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/#fixedsavings

(beware any site that claims to offer over 3% - very likely to be a scam that will lose you money - possibly all of it)