| Feature | Details | |---------|---------| | | Online or HL app | | Easy access | Withdraw anytime (may lose interest for the day) | | Fixed term | 3 months to 5 years – interest fixed, early access not allowed | | Interest payment | Gross (no tax deducted) – you declare to HMRC if above allowance | | Minimum deposit | £1 (varies by product) | | Withdrawal speed | Usually 1–2 working days to linked current account |
While HL offers competitive rates, they are rarely the absolute best on the market. The "Big Three" or smaller digital-only banks often offer slightly higher percentages if you go to them directly. You are essentially paying a small "convenience tax" in the form of a slightly lower interest rate. 🏦 Limited Provider Choice hargreaves lansdown active savings account review