A high-interest savings account pays interest on money you deposit, usually calculated daily and paid monthly or annually. Compare the AER (annual equivalent rate), which shows the estimated yearly return including compound interest, and check whether the rate is variable or fixed. Some accounts offer a higher introductory rate, limit withdrawals, require regular deposits or have a maximum balance. Check the provider is authorised by the FCA and whether eligible deposits are protected by the FSCS; also consider whether any interest could exceed your Personal Savings Allowance and become taxable.