UK and Russia: agreement about Syria

Successful banking requires cooperation to reach end goals for savings goals.

05:55 25 June 2013

Cooperation is essential between multiple countries to try and overcome the situation Syria is facing at present. The UK and Russia seem to have similar end-goals in mind.

We naturally compromise and accommodate one another on a daily basis within our personal lives, business lives, and when dealing with our finances.

When it comes to our banking accounts, for example, we can’t always get the interest rate we want, but the bank still helps us towards our end goal of saving. Here are a few ways to grow your banking account while cooperating within the bank’s guidelines.

• Check interest rates—check a variety of different banking institutions to ensure that you are able to achieve the best interest rates available. If there’s a bank you prefer, but the interest rate isn’t as good as another local bank, try seeing if the bank will match the interest rate, but get it in writing for safety.

 

• Independent Savings Accounts—use the best interest rates for your primary savings accounts. When it comes to making the best of your banking decisions, you’ll want to use a Cash ISA or Stocks and Shares ISA to get the most out of your investment. The growth on these accounts is tax-free, but there is an annual cap for the amount which can be deposited during the year.

 

• Regular savings accounts—the interest rates on these banking accounts is traditionally much worse than the interest you receive in an Independent Savings Account, but the good news is that there is no annual limit. If you believe you’ll be saving more than the annual amount allowed for an Independent Savings Account, open a regular savings account as well and once you’ve maxed out the deposit on your ISA, put the remainder into your regular savings or banking account.