What are the best options for your savings in 2017?

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The finance company, which operates under the Islamic principle that interest is forbidden, gets around this by offering Sharia Law compliant Fixed Term Deposits, in which money does not accrue interest, but is instead invested for profit returns. These have the potential to pay up to a 2. Al Rayan has also increased savings rates for ISA users. This comes amidst news that both the number of ISA subscribers has fallen for the fourth consecutive year down from This is because the 2. For example, Rayan offers a month ISA with an expected profit of 1.

Financial data provider Moneyfacts also say the average easy access cash ISA pays only 0. Many consumers are now recognising that with this disparity between interest rates offered, and the current rate of inflation, ISAs are not the best option for their best savings options. This is leading many to seek new and more profitable ways of best savings options or investing. Further, the introduction of the best savings options savings allowance in somewhat nullified the ISAs tax-free advantages.

Surprisingly current accountsrather than savings accounts, best savings options offer the best rates of interest at the moment.

So on the whole, the best option for savers best savings options would be to open best savings options current account which offers an interest rate that beats the inflation rate of 2. Currently there are nine such accounts on offer, the previously mentioned TSB, Tesco, best savings options two Nationwide accounts being four of these. Besides these inflation beating accounts, it is also worth mentioning a few other accounts currently topping the Best-buy tables:.

The 1-year rate is 1. However, as mentioned earlier, Al Rayan bank offers higher rates of Expected profit, rather than interest, for the same terms. Your email address will not be published. What are the best options for your savings in ? Posted by Danny Lord. Besides these inflation beating accounts, it is also worth mentioning a few other accounts currently topping the Best-buy tables: Share on Facebook share Tweet this!

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This article appears in: Saving for a child today is a wonderful gift for their future. Not only can they start their adult lives with some savings in hand, but getting kids involved early with saving also helps them learn important lessons about money.

Here are some products that can help you start saving for children. Comparison websites are a good starting point for anyone trying to find a savings account tailored to their needs. Read a transcript of this video.

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