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Smart Saving with Building Societies
Building your nest egg by smart saving with building societies
With so many financial institutions to choose from, it’s time consuming to figure out where is best to put your hard earned cash and savings. Have you considered building your nest egg by smart saving with building societies?
Building societies offer some of the most competitive interest rates for savings. Many of them also rank highly for their ethical standards, making them even more appealing as a safe place for your savings.
Five ethical savings providers
We’ve included four of the best building societies and one disruptor bank as our favourite five ethical savings providers. They all offer great rates on their instant access savings accounts and one year fixed deposit accounts. The rates were last updated on 30th May 2024.
| Interest rates: | Instant access savings | One year fixed deposit |
|---|---|---|
| Leeds Building Society | 4.85% | 4.60% |
| Yorkshire Building Society | 4.80% | 4.35% |
| Cumberland Building Society | 3.90% | 4.65% |
| Principality Building Society | 3.50% | 4.45% |
| Monzo Bank | 4.60% | 4.90% |
Regular deposit savings
If you are interested in saving a fixed monthly amount in a regular deposit savings account, the following providers offer the following interest rates:
| Regular deposit savings accounts | Interest rate |
|---|---|
| Yorkshire Building Society | 5.25% / 5.75% |
| Leeds Building Society | 5.25% |
| Cumberland Building Society | 5.25% |
| Principality Building Society | 5.50% |
The B-Corp & ethical bank
Triodos Bank is a certified B-Corp or Business for Good. This means they meet high standards of social and environmental performance, together with accountability and transparency.
Triodos currently offers 3.45% on instant access saving accounts and 4.25% for one-year fixed deposit accounts.
Online alternative with a minimum balance of ยฃ5,000
Investec savings online offers above average interest rates. They do require a minimum balance of ยฃ5,000 however, so one for the super savers out there. They currently pay interest of 4.70% on their instant access account, 5.25% on 90 day notice accounts, and 4.85% on one year fixed deposits.
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