If you try to save money all on your own, you may not be successful. Just keeping cash in a locker or in a piggy bank is certainly not the best way to save money. In fact, even depositing money to a savings account may not be very effective as you might end up spending all the money that you have at your disposal. Hence, you need to find alternate ways through which you can effectively save money. Opening a fixed deposit account is a very effective way of saving money. You will not be too tempted to withdraw the money before the end of the term and so the money will remain safe for a decent amount of time. Moreover, you can earn interest at attractive rates and also get higher returns if you opt for GBP fixed deposit such as ones offered by OCBC.