06.05.2020 | 3 minutes estimated reading time | Print this article

Want to grow your savings quickly? These short term savings accounts could be the answer

Our marketplace is home to a choice of savings accounts to fit practically every savings need. If you’re looking to grow your savings over the short term, why not take advantage of competitive rates and open a short or variable term savings account through our marketplace?

Is it better to open short fixed term or flexible term savings accounts?

Finding the best way to grow your savings depends on your savings goals and how long you’re willing to lock away your savings deposits for.

Flexible term savings accounts

Notice accounts have a variable rate of interest and don’t have a set maturity date, meaning that you can keep them open for as long as you like. To move your money, all you need to do is enter your notice period, after which your funds will be available. At raisin.co.uk, you’ll receive advanced notice of a rate change, keeping you in control of how much you earn from your savings.

The market-leading notice accounts on our marketplace currently feature rates that are more competitive than many short term fixed rate bonds. Scroll down to view notice accounts that you can apply for today.

Short fixed term savings accounts

Shorter term fixed rate bonds enable you to ensure that you know precisely how much you’ll earn from your savings over a short period of time (typically a few months). A notable benefit of this is that you don’t have to worry about the Bank of England changing the base rate, or banks dropping their rates.

Another benefit of shorter term savings accounts is that if your circumstances change, you won’t have to wait too long to gain access to your savings deposits.

Notice accounts

If you want more flexibility from a savings account, consider applying for one of these FSCS protected notice accounts:

Notice period

Rate

Bank

 

45 days

1.25% AER

ICICI Bank (UK)

Find out more

60 days

0.87% AER

OakNorth Bank

Find out more

95 days

1.60% AER

ICICI Bank (UK)

Find out more

Fixed rate bonds

Our marketplace is home to the following FSCS protected savings accounts featuring competitive interest rates:

Term

Rate

Bank

 

6 months

1.35% AER

Zenith Bank (UK)

Find out more

9 months

1.40% AER

QIB (UK)

Find out more

1 year

1.53% AER

Zenith Bank (UK)

Find out more

Register to apply today

You can apply for these savings accounts by registering for a free online Raisin UK Account today. It only takes a few minutes, and once you’ve registered with us, you can apply for any savings account from any bank in our marketplace in a few clicks, including exclusive accounts and rates, without having to fill in another application form.

Register today

Claim a cash welcome bonus of up to £100 cash

While you’re growing your savings this May bank holiday, why not reward yourself with some extra cash? Claim a cash welcome bonus of up to £100 for opening your first savings account at Raisin UK. Terms and conditions apply, please read our welcome bonus page to find out more.


This article may contain information about partner banks, savings accounts, rates and bonus offers which were correct at the time of publication on 6th May 2020.