Saving Accounts - Compare

Savings accounts are accounts maintained by commercial banks, savings and loan associations, credit unions, and mutual savings banks that pay interest but can not be used directly as money (by, for example,writing a cheque).These accounts let customers set aside a portion of their liquid assets that could be used to make purchases while earning a monetary return.

HIGH INTEREST DOES NOT MEAN BEST ACCOUNT:

  • Check if you can withdraw your money at anytime
  • Check the maximum/ minimum saving amount allowed per account
  • Check when the interests are paid: Monthly, Yearly
  • Check the rate per annum

AER stands for annual equivalent rate and illustrates the interest rate if it was paid and compounded once each year.

Gross per annum is the annualised rate before deduction of tax at standard rate.

Net per annum is the annualised rate after deduction of tax at standard rate (currently 20%).