Savings Planning
Put your money to work and earn interest with a savings account
Savings planning means setting aside money regularly so it can earn interest and help you build wealth over time.
Add structure to your savings
Savings help you stay financially stable, whether you are planning for a big purchase or building an emergency fund. For expats, saving is even more important because many do not have a workplace pension and need to prepare for retirement themselves.
When it comes to saving money, it can be tough to know where to start. Without a plan, you might lose motivation or miss out on better ways to grow your savings.
A savings plan gives you a clear structure to follow. It helps you set realistic goals, stay on track, and watch your money grow. Our savings options are designed to help you build financial security and get the most from your money.
Why choose Holborn for your savings planning
We make saving simple, rewarding, and personal. Here’s why people choose Holborn:
Flexible savings options
We are not tied to a single provider, meaning we offer a range of savings plans to match your goals and lifestyle.
Competitive rates
Make your money work harder and help your savings grow faster.
Expat specialists
We help expats create savings plans that match their unique needs and goals.
Tailored planning
Our team builds a savings strategy that’s designed just for you.
The benefits of a savings planning strategy
Protecting your income is straightforward. Here’s how it works:
Build security
When you save regularly, you build a safety net for unexpected expenses. This can lower your financial stress and help you avoid using credit cards.
Reach financial goals
A savings plan helps you set clear goals, choose timelines, and see your progress along the way. You can also adapt your plan as your goals change.
Compound interest
If you start saving early and add to your savings often, your money can grow faster thanks to compound interest. Try our compound interest calculator to see how much your savings could increase.
Support long-term wealth building
After reaching your short-term goals, you can use extra savings to invest and build wealth for the future.
Should I save or invest?
Many people ask this question, and the answer depends on your goals, timeframe, and your comfort with risk.
Generally, savings work best for short-term goals, think five years or less. Investing is often better for long-term goals, over five years. Besides timeframes, it's also important to think about risk.
Savings accounts are very low risk. You get back what you put in, plus interest. Use our savings calculator to see how much interest you could earn and how your money could grow.
Saving and investing together can help you build a strong financial plan.
Our experts can guide you through both, so you can make the best choices for your future.
Start saving today
Make savings more rewarding. We offer expert guidance and savings strategies tailored to your needs and goals.
Savings Planning FAQs
Banks and building societies offer a range of different savings accounts. While they all have different features, they all work in a similar way:
- Open: Choose a savings account; some have a minimum deposit to get started.
- Deposit: Pay money into the account.
- Earn: Interest is typically calculated daily and paid either monthly or annually.
In the UK, you do not pay tax on interest earned from cash ISAs. These accounts allow you to deposit up to £20,000 each tax year.
Interest is worked out daily and paid either monthly or yearly, depending on your account. Accounts that require you to lock your money away usually offer higher interest rates than easy access accounts.
Use our savings calculator to see how your money could grow.
The right account for you depends on your needs. Easy access accounts let you withdraw money when you want, but usually have lower rates. Fixed accounts pay more interest if you can leave your money untouched. Our advisers can help you compare options and find the best fit for your savings goals.
A savings plan helps you set goals, save regularly, and get the most from your money. A savings account is a place to keep your money and earn interest.
With an easy access savings account, you can take out your money whenever you need it and still earn interest. Fixed rate accounts require you to leave your money in for a set time, usually between 6 months and 5 years.