Best Buy Savings Tables

Picture of the Best Buy Savings Tables

For any cash saver it’s always a good idea to check the best buy savings tables.

If you want to get your savings working harder, you need to be earning the best rate of interest you can under the circumstances that suit you.

As I’ve mentioned before, saving money into cash savings accounts is the first place to start on the road to building wealth. Ideally you need around 6 months worth of your monthly spending saved into easy access cash, to act as an emergency/freedom fund to deal with life’s emergencies.

Cash savings are also best for shorter term savings goals like saving for a house deposit, a new car or holiday.

Investing into things like the stock market should be left for longer term wealth building.

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Which Challenger Banks Are Paying Interest?

Picture of calculator for challenging banks

If you don’t yet know what a challenger bank is then the clue is in the name. It’s a bank that is challenging the status quo and taking on the old established banks.

There are many benefits of using a challenger bank and choosing a mobile current account.

The characteristics of a challenger bank are usually as follows:

  • They are online only, no physical branches.
  • They use technology to be far more efficient e.g. you can open an account in seconds on your phone.
  • You don’t really ever need to speak to a human.
  • Much more interactivity and data on your spending and savings habits.

Whilst there are a few challenger banks like Metro Bank who do still have physical branches, I am going to focus on 3 of the most popular online only banks in this article. Starling, Monzo and Revolut.

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