Given the vast number of savings products out there, spread across all manner of different types, it may be difficult to determine which is the best one. Indeed, you may be disappointed to find that there's not a single best savings deal we can point to as the absolute number one.
Sure, there will be the account with the highest interest rate, and that might be perfect for you, but it won't be right for everyone. Standard high interest savings accounts in the form of fixed rate bonds are good for those who have a lot of cash to put away and don't mind losing access to their money for five years or more.
Alternatively, you might want a high interest savings account in the form of a regular saver, which, as stated above, will offer potentially the highest rates of interest you can find, but won't usually allow you to put aside more than £500 per month. As you can see, even picking out the highest interest savings account isn't straightforward.
To find the best deal for you, you will need to know how to compare savings accounts. Once you know what type of account you want, you can look at the best savings account interest rates available in your search, but you may want to look a bit closer before you decide. How will you be able to open and manage the account? What is the minimum investment limit, and do you have enough? Is it a variable or fixed rate? Is early access allowed? How is interest paid out?
These are all important questions to ask before you pick an account, and only you will be able to answer them. So, instead of looking at who has the best savings rate, see who offers the top rate among those that fit your criteria. You may well find that this is a bank you've never heard of before, but don't be afraid - all banks and building societies featured on our charts are covered under a Depositor Protection Scheme, so your savings will be protected (up to £85,000 per person per bank for UK providers) no matter where you place them.