Savings Accounts Madness: Rates Surpass 6%! Find Out Where to Boost Your Money!
- YouTube sensation Andy Clever Cash reveals the highest paying UK savings accounts with rates exceeding 6%.
- Savers are advised to stay updated with the fluctuating rates and not wait for the next update to secure better options.
- Easy access accounts, such as those from Family Building Society and Yorkshire Building Society, offer 4.35% or higher rates.
- Limited access and notice accounts have also seen rate increases, providing attractive options for savers.
- Fixed accounts are currently offering rates above 6%, but savers should carefully consider whether fixing their money is the right choice for them.
In a recent YouTube video, Andy Clever Cash shared some exciting updates on the highest paying savings accounts in the UK. With rates soaring to over 6%, it's time to take a closer look at these lucrative options.
Andy pointed out that there has been a significant amount of movement in rates, with some fixed accounts offering top rates of over 6%. He emphasized the need to keep an eye on the ever-changing landscape of savings accounts to ensure you're getting the best deal.
"I always want to say this every time because your comments people are always asking this if I don't mention an account right now it's either because the account isn't one of the top ones at the time of recording or maybe I've covered it in a previous update in more detail," Andy explained.
He also highlighted the recent increase in the Bank of England base rate, which influenced many of the changes in savings account rates. Despite inflation remaining high at 8.7%, there are accounts that beat this rate, allowing savers to stay ahead.
Andy recommended visiting his website, becleverwithyourcash.com/savings, which is regularly updated with the best rates and top accounts. He emphasized the importance of not waiting until the next update and potentially missing out on better options.
Let's take a closer look at some of the top paying accounts. For easy access accounts, Andy highlighted options paying 4.35% or more, including Family Building Society and Yorkshire Building Society. He advised savers to consider switching to these accounts if they are currently earning less than 4%.
Limited access accounts have also seen an increase in rates, with Yorkshire Building Society offering 4.35% on balances up to £5,000. Notice accounts, suitable for those who can leave their money untouched for a while, have also seen improvements, with Tipton and Coseley Building Society offering 4.85% on 108-120 day notice accounts.
Andy also discussed fixed accounts, which currently offer rates of over 6%. He urged savers to carefully consider fixing their savings, as rates can fluctuate. However, locking in a decent rate is crucial to ensure a guaranteed return.
To wrap up the video, Andy briefly touched on premium bonds, which have seen two recent increases in the prize rate. The August draw is set to offer a prize rate of 4%, with a larger prize fund and improved odds of winning.
In conclusion, Andy Clever Cash provided valuable insights into the ever-changing landscape of UK savings accounts. He advises savers to keep a close eye on rates and explore all options to ensure they're maximizing their savings potential.
Remember to visit his website, Be Clever With Your Cash for the most up-to-date information, and be sure to evaluate your options thoroughly before deciding where to invest your hard-earned money.
Try Out These Discount Codes
Check Out These Money Saving Tips