Martin Lewis shares the best savings account with highest interestThe Martin Lewis Money Show, ITV
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00:00 First direct, 7%.
00:02 That rate is fixed.
00:03 You have to contribute each month,
00:05 but you can put more in, 300 pounds a month.
00:08 So in total over the year, you would earn more interest
00:10 'cause even though the rate's lower,
00:12 you're putting more money in there.
00:14 And it pays you 175 pounds.
00:16 And if you add those up,
00:17 for those who can max the savings out,
00:18 that's actually slightly more than nationwide.
00:20 It's also a top overseas card, spending overseas,
00:23 and it's got 250 pounds, 0% overdraft.
00:25 And if you're with any of these,
00:27 Yorkshire, Skipton, Lloyds, NatWest, TSB,
00:29 Halifax and Bank of Scotland,
00:31 then all of those have linked regular savers
00:33 between five and 7.5%, which you could take advantage of.
00:36 So if you bank with any of those places,
00:38 have a look at what it is offering you.
00:40 If you don't, or you want to open
00:42 a second or third account,
00:44 anybody can open the Saffron Building Society account.
00:46 It pays 5.75%.
00:48 You can only put 50 quid a month in it though,
00:49 which isn't that much.
00:50 Coventry doesn't beat fixed accounts.
00:53 So if you've got lump sums, I wouldn't use it,
00:54 but if you've got easy access
00:55 and you're putting money away each month,
00:57 Coventry Building Society, 5.5%, one year,
01:00 it's a variable rate, up to 500 quid a month in,
01:02 you'd get £179 interest.
01:04 So the absolute maximum interest you can earn on your money
01:08 is with these regular savings accounts.