Make the most of tax-free allowances
Since April 2016, basic-rate taxpayers have received the first £1,000 of their annual savings interest free of tax, meaning options for shopping around for the best savings rate are more clear. But remember that there are long-term benefits associated with using Isa allowances for tax-free saving and higher-rate taxpayers may benefit furtherSean Davies, Gocompare.com
How can we help you with savings and Isas today?
Using our service, you can quickly and easily compare hundreds of rates for savings and for Individual Savings Accounts (Isas) from all UK savings providers.
If you choose to use our comparison service, the easy-to-use page will present information describing the key facts about each account and will offer you the chance to purchase the products.
Choose either the amount you'd like to deposit or how much a month you'd like to save and the dynamic best-buy table will display the interest rate (AER), term and expected return on your investment, which can be calculated to reflect a term of one year, two years or five years.
If you see an option you like the look of, click on the 'more details' button to check the vital information and - if you're happy - go ahead and click 'apply'.
Amongst the savings accounts on offer, you can choose from easy-access options, peer-to-peer savings and fixed-period products. Isa accounts can be a fantastic, tax-free way to save your money, and we can help you find the right deal on Cash Isas.
Did you know...?
- The tax year starts on 6 April and ends on 5 April
- The Isa allowance for 2016-17 is £15,240; for 2017-18 it will be £20,000
- 21% of consumers have never switched their Isa or savings accounts
Low interest rates have been with us for some time, meaning it's harder than ever - and more important than ever - to find a good return on your money.
Learn all about the products available by reading our guides, where you'll also find the answers to frequently asked questions on savings and Isas.
Our guides offer more information on key saving products such as easy-access accounts, fixed-rate bonds, notice accounts, regular-saver deals, peer-to-peer saving, Help to Save and off-shore accounts.
Find out how interest rates and tax rates are displayed and paid, and why you should pay attention to maximum and minimum deposit levels, notice periods, withdrawal restrictions and short-term bonuses.
You'll also find information on National Savings and Investments (NS&I), the Financial Services Compensation Scheme (FSCS) and the Banking Code, plus more general help on why you should save, and the importance of keeping a rainy-day fund.
Many people seem mystified by Isas but they're basically just regular savings products protected by a tax-free 'wrapper', meaning that you get to keep 100% of the precious interest.
We've got dedicated guides on Cash Isas, Stocks and Shares Isas, Lifetime Isas, Innovative Finance Isas, Help to Buy Isas and Junior Isas, with information on allowances, transfers, age restrictions, how many Isas you can own, inheritance rules and much more.