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Opening more than one savings account also means you could maximise the interest rates that are in the market. In the UK, you can have multiple savings accounts which allows you to have separate accounts for different savings goals. Savings rates are still relatively strong, but they can change quickly. Providers can offer introductory promotions and bonus rates on savings accounts, but these might drop after a certain period. Some savings accounts will have minimum deposit requirements, and others will have maximum limits.

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