Many people have some form of savings account, most will be simply the savings account ‘add on’ included with their current account, whilst a large number simply leave their money in their low interest current account – if this is you then you are effectively throwing money away.

There are a wide variety of savings account on offer, which may be why so many people do not have one – knowing which one to opt for and finding the time to look into them can be off putting, which is where we come in as not only will we make the options available to you clearer, but we have also compiled a list of top savings accounts for you to choose from.

Moving your unused money to a dedicated savings account can earn you a significant amount in the interest paid, often as much as 4.5% more than for current accounts – with £1000 in a savings account offering 4.5% you would earn £45 interest in one year, whereas the same money in a typical current account would accrue only £1, obviously the more you are able to invest the more you will earn from it.

When looking at a savings account, there are four main types that you should consider; easy access, notice, bond and regular savings accounts, each of which are described below.