Magical holidays and high interest savings

The Whitsunday Islands, a collection of 74 beautiful islands located at the south-end of Australia's Great Barrier Reef, boast pristine ranges of fringing reef, magnificent, picture postcard beaches, calm Coral Sea and rainforest.

With an average temperature range between 22 and 32 degrees C all year round, these islands make a perfect holiday location any time. The area is ideal for cruising or sailing; swimming, diving and snorkelling; walking or simply relaxing on one of the gorgeous beaches.

When to go and how to get there, and what to do once there, will naturally take some careful planning and consideration. Ultimately, it will depend on the holidaymaker's circumstances, such as when they will be free to go, what their holiday budget is and their personal preferences in leisure activities.

In a similar way, how to best invest money in savings depends on a variety of key factors. This includes the individual's own available budget and requirements, such as whether access to funds will need to be maintained or whether money can be locked away for a specific period of time, for instance.

In addition, the rates offered and conditions applied to various savings accounts will also have to be examined and compared. In other words, it is important to carefully study various options and compare their features in details before coming to a decision. Comparison sites are a great way to save time and effort when comparing available options. Being able to see a variety of possible choices side by side will make it easy to determine which type of choice will offer the best savings rates, combined with the best features and benefits. In many cases, it is likely to turn out that an ISA will represent the best possible choice.

There are several reasons for this. First of all, these options typically offer some of the best rates currently available on the market. The rates offered here are only rivalled by comparable bonds. Secondly, and this is one of the main advantages these accounts have over all others, is the fact that the funds to be accrued here will remain tax free as long as the total balance is kept below a certain level.

In short, ISAs can be very much regarded as the best savings accounts being offered on the market for most requirements. There are various different options, ranging from instant cash variations, which will allow instant access to funds as and when required, to fixed term options, where withdrawals are usually either not permitted at all or will incur penalty charges, usually applied in shape of a loss of interest.

The best AERs offered on instant cash choices are right now offered for online options with a minimum investment of only £1 each. These rates range from 2.8 percent through to three per cent up to a current best of 3.05 per cent. It should be noted that the 3.05 per cent AER is offered by an exclusive option, while the three per cent rate is only guaranteed for 12 months and may change after this period.

As far as fixed term choices go, the AERs offered are even better. While the best one-year version is currently set at an AER of three per cent, with a minimum deposit requirement of £500 and no withdrawals, a two-year term offers a rate of 3.75 per cent. The deposit is the same, but it is possible to withdraw funds, although a charge will be applied.

On a three-year term, the best AER currently available is four per cent, which is only challenged by the 4.1 per cent offered by a bond with the same conditions. A bond will not, however, be tax free. To lock funds away for five years, the best choice at the moment is offering 4.5 per cent. In this case, the minimum deposit that has to be made is £100. The nearest comparable bond, on the other hand, requires a deposit of £500 and will offer a rate of 4.4 per cent. A bond with a minimum investment of £50,000 will provide an AER of 4.8 per cent. None of these latter examples will permit withdrawals throughout the period of the term.

Looking at these examples does make it clear how vital careful comparison of all features, benefits and conditions really is. In order to make the most out of available funds, savers do have to be wise and select their options carefully. Simply checking rates could ultimately lead to problems, if minimum investments are set too high for a saver to meet them. Any selection made will have to suit a saver's circumstances, as well as offering the best possible rates available.