We all know how important it is to save and with savings now tax-free for the majority of people it is essential to get the most out of your Personal Savings Allowance.

There are many reasons why people save, some of these include:

/ An unexpected change to your life circumstances.
/ Emergencies.
/ Financial protection.
/ Luxuries such as holidays, car or wedding.
/ Retirement.

Putting money away regularly can provide peace of mind and financial security in the long-term.

Saving vs. Investing

Although they are similar there is a big difference between saving and investing. If you intend to use your money in the near future then saving is a good short-term solution. Investing involves tying up a large sum of money for a longer-term with the hope of realising a greater return on your money.

Determining whether to save or invest will all depend on your savings goal.

Protecting your cash

Your eligible deposits held by a UK establishment of The Access Bank UK Limited are protected up to a total of £120,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered.

Please click here for further information or visit  www.fscs.org.uk.