Consider an easy access account, including easy access cash ISAs^**

These accounts typically pay a variable rate of interest but allow you to access your money at any time (check for withdrawal restrictions)

**You can save up to £15,240 in an ISA in the 2015/2016 tax year. Note that from April 6, 2016 basic rate taxpayers can earn £1,000 of interest in any savings account without paying tax on it. Higher rate taxpayers can earn £500.

Consider a fixed rate bond, including fixed rate cash ISAs^**

These accounts typically require you to lock your money away for a year or more in return for a higher interest rate

**You can save up to £15,240 in an ISA in the 2015/2016 tax year. Note that from April 6, 2016 basic rate taxpayers can earn £1,000 of interest in any savings account without paying tax on it. Higher rate taxpayers can earn £500.

Consider a high interest current account

Many pay competitive rates of interest on balances up to a certain amount (you’ll usually have to pay in a set amount each month and have two or more direct debits set up)

Consider a regular savings account

These allow you to pay in a set amount each month and typically pay a fixed rate of interest for 12 months

You could also try a high interest current account

You'll usually have to pay in a set amount each month and have two or more direct debits set up

You could also try Peer-to-peer lending^***

Peer-to-peer lending websites work by enabling savers to lend directly to borrowers. By cutting out the need for banks or building societies, savers tend to get better returns than they would with a standard savings account, while borrowers benefit from lower loan rates.

*** Peer-to-peer lending is regulated by the Financial Conduct Authority, but your money is NOT protected by the Financial Services Compensation Scheme. There is a risk you may lose some or all of your initial investment.