best savings accounts for highest interest rates

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Depositor Protection for UK Savers.

Of course choosing a savings account isn't just a question of headline account interest rate! You'll want to know how protected your money its.

A single saver should be protected for the first £50,000 (£100,000 for joint account holders).

However some banks and building societies operate more than 1 brand under a single registration. If you had accounts with each of two banks sharing a single registration your protection would be only £50,000 (£100,000 for joint account) for both accounts - you would have lost half your protection.

For this reason it is preferable to avoid saving with more than 1 brand that shares such a registration

Abbey National plc includes: Abbey National, Asda, Bradford & Bingley and Cahoot
Bank of Scotland includes: Bank of Scotland, Capital Bank, Halifax, Intelligent Finance, Saga, St James Place Bank
Co-operative Bank plc includes: Co-operative Bank, Britannia and Smile
Lloyds TSB Bank includes Lloyds TSB Group plc and Cheltenham & Gloucester
Nationwide Building Society includes Nationwide Building Society, Cheshire Building Society, Derbyshire Building Society and Dunfermline Building Society
Royal Bank of Scotland plc includes Royal Bank of Scotland plc, Childs Bank, Drummonds, Holts, Lombards and The One Account
Skipton Building Society includes Skipton Building Society and the Scarborough Building Society
Yorkshire Building Society includes Yorkshire Building Society and Barnsley Building Society

In some cases preexisting rights to separate compensation survive a merger.

For futher details please see: FSA