How Can I Find the Best Savings Accounts?

There are lots of different types of savings accounts and lots of places offer savings accounts and this means that it can sometimes be confusing to know how to find the best ones. There are different methods that you could choose and they tend to all have pros and cons so it is worth considering which you think will be the best ones for you.

Financial Advisor

Asking a financial advisor will be the best way to ensure that you really do get the very best account. However, you have to pay them for their help and this can be quite expensive. You will need to think about whether you think that it is worth paying for their help considering how much the extra money that you will make will be worth. If you have lots of money to save then it is more likely to be worth it as you will make more interest compared to if you have a small amount of money when a different interest rate will not make a huge difference.

Comparison Website

A comparison website will show you lots of different accounts and you will be able to have a look at the different process of products and you will be able to compare them and see which will be the best for you. However, these websites will not list every single savings account and therefore you will not be comparing all of the accounts. This is partly because not all banks want to appear on these sites. This is because the site owners usually get paid commission of you click through a link and open an account based on heir recommendation. Whilst there is nothing wrong with this, as long as it is declared on the website, it can mean that you will only see places on there that pay commission and if they rate them they may rate those that give them the most commission the highest.

Money Advice Website

There are some sites which give advice about money and they might have recommendations about types of savings accounts and which might be the best to use. These can be very useful but you will still need to check to find out whether they are biased in any way or whether they will be giving independent advice. It is good to check this carefully or use a site that you know that you can trust to give an unbiased view if you can find one. Some will be better than others so you might have to look at quite a few websites before you find a good one.

Friends and Family

It can sometimes be handy to ask friends and family. They may have their money in accounts that they will recommend to you and so that could be really helpful as well. They might also be able to tell you about accounts that they do not recommend that you try out. Find out why they like and dislike them and then you will be able to think about whether those will be things that you are concerned with or whether you do not really mind about them and so it will not really matter about those things.

Search Engines

You can of course do research for yourself using search engines. You will be able to look up different savings accounts and decide whether you think that certain ones will suit you better than others. It will take time though but it will be a good opportunity to find out more about different types of accounts and different people that offer them and how they compare.