Guide

Investment vs Savings Account.

A monthly-interest investment should not be treated as the same thing as a bank or building society savings account.

This information is not investment advice. IGI information is only intended for eligible recipients who can lawfully receive it.

Difference

Start with product type

Savings accounts are normally cash deposit products offered by banks or building societies, with their own rate, access and protection terms.

Investment products can involve capital risk, liquidity limits, counterparty risk and different legal protections.

Due diligence

Check FCA authorisation and regulatory status.
Check whether FSCS protection applies and exactly what it covers.
Check whether monthly interest is fixed, variable or dependent on other factors.
Check whether the information is only for eligible investors.

Next step

Start with the eligibility flow before reviewing product-specific information or opening an account.