Highest Savings Rates

If you want to find the highest interest rate for your savings then, time was, you would have to walk around the high street and go into each bank and find out.

And it was often much of a muchness.

These days the advent of internet banking and more and more banking products, including all the white label supermarket services, interest rates are going up and the banking world is becoming in some real ways more and more competitive.

This means that even the high street banks are starting to offer the occasional good rate (often with a suitable string of caveats of course, but nevertheless it is still progress).

So how do you find the best interest rate for you?

There are two ways that will remove you the hassle of thinking up each bank you can think of and then going to their website and wading through the offers.

The first is to buy a financial magazine that will have look-up tables of the best and rate by best to worst savings account.

An alternative would be a weekend newspaper, as many of these, and particularly the broadsheets, publish comparison tables on a weekly basis that show you the highest paying rates you can get on savings accounts and so forth.

Another option would be to go to a financial comparision website.

There are quite a few of these around but the one you might know in the UK is called moneysupermarket.com and there you can start to do comparisons on all sorts of products, including savings accounts.

You can sort by the interest rate highest to lowest or other criterion and also read about the account and what it offers so you can easily see any strings and caveats in one place too, which of course is good news for you.

And so if you want to find the highest interest rate it really isn't hard these days which means there is no excuse not to seek it out.

Whilst it could take a few hours to find and apply for the new higher interest account you are almost certainly sure to get a great return on that hours work on your part over the course of the year when you raise the interest rate that your savings get - and the more you have to save, the more you have to lose by not switching and finding the best interest rate for your money!

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