7 market leading savings accounts paying up to bumper 6% interest
These 7 savings accounts offer some of the best rates on the market right now.
The best savings accounts pay up to 6%
The best savings accounts pay up to 6% right now
(Image: Getty)If you're lucky enough to have some savings built up - or you're keen to kick start your amibition to forge a rainy day fund (if it ever rains again...) then there are a smattering of smart options right now paying up to 6% interest.
And if you have a few thousand ready to stash away, there are several different accounts you can take advantage of simultaneously to max out the tax-free interest on your cash (the first 1,000 savings interest you earn is tax-free if you earn under 50,270, even if it's not in an ISA).
From Santander to Chase and some lesser known names like Spring, there are several top paying accounts offering bumper interest rates right now which are giving out inflation-beating savings rates - until you're ready to invest some.
As Money Saving Expert founder Martin Lewis advises: "The first place to put spare money is always to build up a cash emergency fund of three to six months' worth of bills. But for money you wont use for 5+ years, saving isnt usually the winner. It's worth considering putting some of the rest in a broad spread of investment (eg, a global tracker fund that mirrors the performance of a huge range of companies)."
Spring (part of Paragon) - 5%
Spring will give customers a 5% savings rate on a minimum of 10, maximum of 5,000.
(Image: Getty)Cahoot (part of Santander) - 5% on small accounts
[Branch of Santander Bank in Bromley Market Square]
Cahoot, part of Santander, is offering 5% on small accounts, which is a maximum of 3,000.
(Image: Getty)Cynergy Bank - 4.55%
Cynergy is offering 4.55% with a 2.55% variable rate plus a one year 2% bonus. But it pays on up to 1M.
(Image: Getty)Oxbury Bank - 4.33%
[Woman putting coin into a white piggy bank.]
Oxbury Bank is offering 4.33%, but unlike the 5% payers has a high maximum of 120,000 and only needs a 1,000 minimum.
(Image: Getty)