Best Savings Accounts Checklist
Find the right home for your savings. Tick off items as you complete them.
0 of 12 items completed
1. Assess your savings needs
Decide if you need easy access or can lock money away for better rates
2. Check your ISA allowances
You can save up to £20,000 tax-free in ISAs this tax year
3. Compare current rates
Use comparison sites to find the best rates for your savings amount
4. Consider fixed-rate bonds
If you do not need immediate access, fixed rates typically pay more
5. Look beyond big banks
Smaller banks and building societies often offer better rates
6. Verify FSCS protection
Ensure your savings are protected up to £85,000 per institution
7. Check regular saver accounts
If you can save monthly, regular saver accounts often have competitive rates
8. Look at notice accounts
Give notice to withdraw and often get better rates than easy access
9. Consider opening multiple accounts
Split your savings across accounts to maximise rates while staying protected
10. Set a reminder to review rates
Savings rates change - set a calendar reminder to review every 6 months
11. Think about tax efficiency
Use your ISA allowance first as interest is tax-free
12. Keep your emergency fund accessible
Do not lock away money you may need for emergencies
Next Steps
Once you have completed your savings accounts checklist: