If you’re looking to make a savings account this year, you really should do your research on which accounts are the best. Which will take care of your money while generating the most interest? Which accounts will work out better for you in the long run? What advantages do they have on offer to their customers? It’s a lot to think about but don’t panic. We’ve got you covered with a list of the best savings accounts for 2017.
A big name in banking is Barclays, and there’s probably a reason for that- they’re brilliant. Available in both the UK and the USA, the bank offers some great savings account deals. There are no monthly fees to pay on your saving account, you don’t need to have a minimum balance to start the savings account, and you can make deposits into the savings account via every means you could imagine. Simple, quick and easy.
Tesco Bank is a brilliant bank that offers some great benefits to customers. To open up a savings account with Tesco, all you need to do is have £1 ready to put into the savings account- from then on; you’re ready to go! Tesco has a generous 0.6pc bonus which is applied at the end of the year, every year.
While you don’t have to begin with a minimum balance in order to be able to open your savings account with Synchrony Bank, once you’ve opened it you do have to keep a minimum of $30 in there at all times. If you don’t have $30 in there, you receive a $5 fine every single day until you do! The bank also offers great discounts to its customers, including some great travel-related advantages and bonuses and ATM fee reimbursements.
Ally is one of the top bank names in the US, and so it comes as no surprise that the savings account deals are excellent. The bank offers customers 1% APY for online savings accounts. There’s also a lot more bonuses to the bank; it offers online banking 24 hours a day, seven days a week. You don’t need a minimum balance to open the account. You can link as many as 20 different accounts to your savings account. The list goes on!
Virgin Money is another bank that requires you to have just £1 to deposit into your new savings account for you even to be able to open a savings account. They pay out 0.95pc at the end of a 12 month period of having savings in your account. However, this figure does drop to 0.25pc if you make more than four withdrawals in a year. This might sound negative, but it’s actually a good thing, as it discourages you from dipping into your savings account too often, if at all!