Find out why every pound counts

As we head into Autumn and back-to-school season, now’s the perfect time to refresh your financial knowledge, crunch some numbers and make your money work harder.

Did you know that, when compared to the rest of the market, Charter Savings Bank customers earned £10.3m more in September 2024 just by choosing us¹?

There's always more to learn about maximising your savings and we’re here to help. Let’s take a look at how compound interest can help you increase your money.

The benefits of compound interest

Whether you're able to set aside £1, £10 or £100, consistency is key to growing your savings. Even putting away a small amount regularly creates a good financial foundation that compound interest can improve over time.

You won’t just earn interest on your initial deposit – you’ll earn returns on the interest you’ve already accumulated too!

When you add to your funds regularly, its power grows because there’s more money to earn interest on, and your balance increases faster, accelerating like a snowball effect.

Here’s an example of a fictional account, for illustrative purposes, providing 4% APR with some different deposits to show how compound interest could help your money grow over 5 years:

Earn more with an Easy Access account

You can open our Easy Access account with £1. That’s less than the price of a coffee on the go, so it’s simple to get the ball rolling and start saving.

Easy Access accounts are flexible so you can make deposits and withdrawals as needed, giving you access to your funds should an emergency arise. You could set up a standing order to save what you can comfortably manage to put away, with the security of knowing you can reach your money if needed.

Your next steps

If you’re looking to save smarter, there’s still time to make the most of your savings before the end of the year, and you don’t need a lot to get started.

The numbers speak for themselves, with consistent saving, competitive rates and compound interest, you can increase your wealth over time. And with our options starting from £1, there's no time to save like the present.

To grow your finances, why not explore our range of Easy Access accounts or find another way to earn more with a different product that works for you?

View our Easy Access range

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¹ CACI’s CSDB, Stock, September 2024