Best Savings Accounts UK 2021 - Highest Interest Rates

Best Savings Accounts in the UK in 2021, these are the savings accounts with the highest interest rates I could find in February 2021 for anyone in the UK.

★★ TIMESTAMPS ★★
00:00 Introduction
01:06 – Highest Interest Rate current account Virgin Money
01:40 – High interest current account Nationwide
02:35 – Information about high interest current accounts
03:30 – Instant Access Savings Account – Aldermore
03:41 - Instant Access Savings Account – Nationwide
04:25 – Cash ISA - Cynergy Bank
05:12 – Highest interest Lifetime ISA – Moneybox
06:14 – Best 1 year Fix Rate account – Smartsave
06:37 – 1, 2, 3, 4 & 5 Year Fixed rates – Zopa
07:18 – 1, 2, 3, 5 & 7 year fix rate bonds – Shawbrook
08:00 – Best Regular Savings account – Coventry Building Society
08:38 – Regular Savings account – First Direct
09:26 – Regular Savings account – HSBC
09:50 – At a glance comparison to all of the accounts in the video
★★ HIGH INTEREST CURRENT ACCOUNTS ★★
See https://uk.virginmoney.com/current-accounts/brighter-money-bundle
2.02% up to balance of £1000

Or https://www.nationwide.co.uk/products/current-accounts/flexdirect/features-and-benefits
2% fixed for 1 year on balances up to £1500

Key things to remember for current accounts
* You need to ensure you transfer a minimum of £1000 per month into these accounts.
* There is a limit on the amount you can earn interest on.
★★ INSTANT ACCESS ACCOUNTS ★★
See https://www.aldermore.co.uk/personal/personal-savings-accounts/easy-access-account/easy-access-account/
For 0.5% instant access savings account save from£1000 (to a max of £1,000,000) and is FSCS protected up to £85,000
OR
See https://www.nationwide.co.uk/products/savings/triple-access-online-saver/features-and-benefits
For 0.5% instant access savings as little as £1 up to £1million FSCS protected up to £85,000

Key things to remember for Instant Access savings accounts
* You can withdraw your money anytime with no penalty
* There may be a limit on the number of withdrawls you can make
* The rates may change

★★ BEST CASH ISA ★★
https://www.cynergybank.co.uk/personal-savings/online-isa/online-isa-issue-8-available-for-new-and-existing-cynergy-bank-customers/
0.55% save up to £20,000 per year and earn tax free
★★ LISAs - all FSCS protected (must be aged between 18 and 39 to open) ★★
https://www.moneyboxapp.com/cash-lifetime-isa
0.85% plus up to 25% bonus on your contributions per year from the government - must use moneybox app to open

To learn more about Lifetime ISA’s (LISA’s) watch this video: https://youtu.be/QlghxIE7rZU
★★ FIXED RATE SAVINGS ACCOUNTS ★★
https://smartsavebank.co.uk/1-year-fixed-rate-saver/
0.7% fixed for 1 year

Or https://www.zopa.com/savings-accounts
0.67% fixed for 1 year
0.82% fixed for 2 years
0.87% fixed for 3 years
0.95% fixed for 4 years
1.05% fixed for 5 years

Or https://www.shawbrook.co.uk/direct/savings/personal-savings/fixed-term-accounts/1-year-fixed-rate/
0.65% fixed for 1 year
0.82% fixed for 2 years
0.90% fixed for 3 years
1.25% fixed for 5 years
1.35% fixed for 7 years
Key things to remember for fixed rate savings accounts
* Your money is tied up for a fixed period of time - if you withdraw the money sooner you lose the benefit (and may not be able to)
* The rate remains fixed for the term
★★ REGULAR SAVERS ACCOUNTS★★

Key things to remember for Regular savings accounts
* Cannot withdraw any money during the term
* Cannot miss any payments
* Fixed rate for the term

See https://www.coventrybuildingsociety.co.uk/consumer/product/savings/regular_saver/regular-saver-4.html
1.3% save from £1 to £500pm

OR

See https://www1.firstdirect.com/savings-and-investments/savings/regular-saver-account/
1% for 12 months save between £25 and £300pm

OR

See https://www.hsbc.co.uk/savings/products/regular-saver/
1% for 12 months save between £25 and £250 per month
★★ SUMMARY ★★

LISA - best for first time buyers aged 18 to 39

Fixed Rates - good if you have a larger amount of money you want to lock away for a set term

Instant Access - Good for short term savings or when you need instant access, although the CASH ISA listed above is even better!

Regular Saver Accounts - Good if saving for a holiday or anything that is more than 12 months away. Tax bill etc

★★ MORE VIDEOS YOU MIGHT LIKE ★★
How to Budget (Full Money management system) - https://youtu.be/vzuXkxst6cI
Dividends versus Savings how to grow your wealth - https://youtu.be/uEclt5D59hw
How to Get out of Debt Fast - https://youtu.be/dYJC4a4FGgc
Build an Emergency Fund in 5 Steps - https://youtu.be/fQUuFrJbBS0
Life Time ISA Explained - https://youtu.be/QlghxIE7rZU
How much do you need to save to be able to retire? https://youtu.be/c9o6gRvdwko

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DISCLAIMER: I am NOT a Financial Adviser and do NOT offer Financial Advice. I create these videos for education and entertainment purposes.

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