Investments, ISAs, Pensions and Life Insurance.Astute personal finance, investments, ISAs, financial services, life insurance, endowments, pensions, tax planning
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Banks & Building Societies

Saving with a Bank or Building Society is a low risk investment. In the UK, 90% of the first £20,000 you invest with one that is authorised to take deposits is guaranteed by the so-called "deposit protection scheme". You can check that your provider is authorised at www.fsa.gov.uk/register

Point To Watch: Money placed with offshore accounts or held in overseas branches of UK Banks or Building Societies may not be protected by the UK's "deposit protection scheme".

For further information about Instant Access and Savings Accounts and to compare the offerings of many UK Banks and Building Societies, visit the 'Instant Access Accounts' and 'Savings Accounts' pages.

On-line Banks currently offer good interest rates. They also provide the facility to conduct all of your banking from your PC 24 hours a day without ever needing to enter your local branch. For more information and a selection of On-line Banking providers, visit the 'On-line Banking' page.

Tip: When comparing interest rates use the APR ("the Annual Percentage Rate") also known as the AER ("Annual Equivalent Rate"). This rate allows you to compare accounts that pay interest say on a monthly basis with those that pay say quarterly or annually.


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Astute personal finance, investments, ISAs, financial services, life insurance, endowments, pensions, tax planning
Astute Investor does not recommend or endorse investment products nor does it provide financial advice.

This site is for the use of UK residents only.
Past performance is not necessarily a guide to future performance.
Mortgages, loans, general insurance, stockbroking services, tax advice, will writing, advice on deposit accounts, and some aspects of protection are not regulated by the FSA. Levels and basis, and reliefs from, taxation are subject to change and their value depends on the circumstance of the individual investor.

 



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