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Most popular savings accounts of 2017

1 year fixed-rate accounts are in-demand

Most popular savings accounts of 2017

Which? reveals the five most in-demand savings accounts from users of Money Compare over 2017 so far.

The two most popular products were both one year fixed-rate accounts, suggesting savers have an appetite for locking in their interest rate short term.

But savers also sought out the flexibility of instant access accounts, which featured three times in the top five and were the most visited pages on Which? Money Compare.

An instant access account gives you the option to withdraw your money at any time, which is particularly useful for savers who know their circumstances might change.

Below we outline the five savings accounts which were most popular among Money Compare users in the first half of 2017.

Find out more: Which Money Compare – 100s of savings and ISA products compared

Top five savings accounts of 2017

5. Nationwide Flexclusive Regular Saver

The only regular savings account to make it into our Top 5, the Flexclusive is only open to Nationwide current account customers. The account pays a healthy 5% interest, but savers must hold their savings for a full year to qualify. Interest is paid out on the anniversary of the account opening.

Click on the link to find out more about the Nationwide Flexclusive Regular Saver.

4. National Savings & Investment (NS&I) Income Bonds

Despite the name, NS&I Income Bonds don’t require you to lock your money away. You earn a variable rate of 0.75% AER and can withdraw your money at any time with no notice or penalty, as long as you take out a minimum of £500 each time. Accounts must also maintain a balance of £500 to stay open. NS&I is fully backed by the HM Treasury, meaning your investment is guaranteed.

Click on the link to find out more about the National Savings & Investments Income Bond

3. NatWest Savings Builder Account

This NatWest account is the most sought-after instant access product for 2017, allowing savers to withdraw their money at any time. Savers whose balance grows by more than £100 per month are entitled to a bonus rate on top of the base interest of 0.1%. For balances up to £5,000, the AER including bonus is 1.5%. This drops to 1% for balances between £5,000 and £10,000, and to 0.2% for balances over £10,000.

Click on the link to find out more about the NatWest Savings Builder Account

2. Charter Savings Bank 1 Year Fixed Rate

Another one year fixed-rate account, Charter Savings offers an AER of 1.51%. The minimum deposit is slightly higher than Atom Bank, at £1,000, but the account also caters to higher balances with a maximum of £250,000.

Click on the link to find out more about the Charter Savings Bank 1 Year Fixed Rate

1. Atom Bank 1 Year Fixed Saver

The most popular savings product for 2017 on Money Compare, this currently pays 1.8% AER fixed for one year. All Atom savings accounts require a minimum deposit of £50 (maximum £100,000) and can only be opened open and managed via the Atom Bank mobile app, available on Android or Apple.

Click on the link to find out more about the Atom Bank 1 Year Fixed Saver

Which? Limited is an Introducer Appointed Representative of Which? Financial Services Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 527029). Which? Mortgage Advisers and Which? Money Compare are trading names of Which? Financial Services Limited

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