I went through this recently when I had funds earmarked for a kitchen refit but noticed bond rates around 4% that far outstripped my regular savings. What tipped the balance was knowing I wouldn’t need the money for at least a year, so I felt comfortable sacrificing instant access. Don’t forget to check which insurance providers back those accounts too, since you want peace of mind if a bank hits trouble. For a clear breakdown on timing and returns, see insurance providers. That guide helped me pinpoint when the extra yield justifies locking away cash.