IELTS Writing Task 2 Sample Essays: Choosing the Best Bank for Savings – Band 6, 7 and 8 Examples

The topic of Choosing The Best Bank For Savings is a relevant and practical one that may appear in IELTS Writing Task 2. While not as common as some other subjects, it has been featured in past exams and could potentially resurface in future tests. This topic allows candidates to demonstrate their ability to discuss financial matters, personal decision-making, and economic concepts. Let’s examine a sample question and explore different approaches to answering it across various band scores.

Some people believe that individuals should choose banks for their savings based solely on the interest rates offered. Others argue that factors such as customer service, bank reputation, and additional benefits are equally important. Discuss both views and give your own opinion.

Analysis of the Question

This question presents a balanced argument task. It requires candidates to:

1. Discuss the view that interest rates should be the primary factor in choosing a bank for savings
2. Explore other factors that could influence this decision
3. Provide a personal opinion on the matter

Key points to address include:

• The importance of interest rates in savings accounts
• Other factors like customer service, reputation, and additional benefits
• The potential impact of these factors on personal finance
• A balanced consideration of both perspectives
• A clear personal stance supported by reasoning

Now, let’s examine three sample essays of varying quality, representing different band scores.

Band 8 Sample Essay

Interest rates play a crucial role in determining the growth of one’s savings, leading some to argue that this should be the sole criterion when selecting a bank. However, I believe that while interest rates are important, other factors such as customer service, bank reputation, and additional benefits should also be carefully considered.

Undoubtedly, higher interest rates can significantly impact the long-term growth of savings. For instance, a difference of even 0.5% in annual interest can result in substantially larger savings over a decade or more. This is particularly relevant for individuals with large savings or those planning for long-term financial goals such as retirement or buying a home. Therefore, it is understandable why some people prioritize interest rates above all else.

However, focusing solely on interest rates may overlook other crucial aspects of banking. Excellent customer service can prove invaluable when dealing with financial issues or seeking advice. A bank with a strong reputation for security and stability offers peace of mind, especially in times of economic uncertainty. Additionally, banks often provide extra benefits such as free international transfers, insurance products, or preferential rates on mortgages, which can offer significant value beyond the interest rate alone.

In my opinion, the ideal approach is to strike a balance between these factors. While a competitive interest rate should be a primary consideration, it should not come at the expense of poor service or questionable reputation. I believe that savers should first shortlist banks offering reasonable rates, then evaluate them based on other criteria to make a well-rounded decision.

In conclusion, choosing the right savings account interest is undoubtedly important, but it should be part of a broader evaluation process. By considering multiple factors, individuals can make more informed choices that align with their overall financial needs and preferences.

(Word count: 309)

Balancing factors in choosing the best bank for savings

Band 7 Sample Essay

The choice of a bank for savings is an important decision that affects one’s financial future. While some people argue that interest rates should be the only factor to consider, others believe that additional aspects like customer service and bank reputation are equally crucial. In my opinion, both views have merit, but a balanced approach is necessary.

Those who prioritize interest rates have a valid point. Higher interest rates mean more money earned on savings over time. For example, a difference of 1% in interest rates can lead to significant gains, especially for large sums of money or long-term savings. This can be particularly important for people saving for major life events like buying a house or planning for retirement.

On the other hand, focusing solely on interest rates might ignore other important factors. Good customer service can be invaluable when dealing with financial issues or needing assistance. A bank with a strong reputation offers security and peace of mind, which is crucial when entrusting them with one’s hard-earned money. Additional benefits like free online banking, mobile apps, or loyalty programs can also add value to the banking experience.

In my view, the best approach is to consider all these factors together. While a competitive interest rate is important, it shouldn’t come at the cost of poor service or a questionable reputation. I believe savers should look for banks that offer a good balance of competitive rates, reliable service, and a strong reputation.

To conclude, the impact of inflation on public debt and personal savings highlights the importance of interest rates, but other factors should not be overlooked. A comprehensive evaluation of all aspects will lead to a more satisfactory banking choice in the long run.

(Word count: 282)

Band 6 Sample Essay

Choosing a bank for savings is important for people. Some think interest rates are the only thing to look at, but others say things like customer service and bank reputation matter too. I will discuss both ideas and give my opinion.

Interest rates are very important because they decide how much money you can earn from your savings. If a bank gives higher interest, you will get more money in the future. This is good for people who want to save a lot of money for big things like buying a house or for when they are old and stop working.

But other things are also important when choosing a bank. Good customer service means the bank will help you when you have problems or questions. A bank with a good reputation means it is safe and you can trust it with your money. Some banks also give extra things like free services or special offers that can be useful.

In my opinion, I think people should look at both interest rates and other things when choosing a bank. It’s good to find a bank with good interest rates, but it should also have good service and be trustworthy. This way, you can earn money and also feel safe about your savings.

To finish, I think the best way is to think about all these things together when choosing a bank for savings. This will help people make a good choice for their money.

(Word count: 234)

Explanation of Band Scores

Band 8 Essay:

This essay demonstrates excellent writing skills and a sophisticated approach to the topic. Key strengths include:

1. Clear organization with a well-developed introduction, body paragraphs, and conclusion.
2. Sophisticated vocabulary used accurately (e.g., “undoubtedly,” “substantially,” “invaluable”).
3. A wide range of complex sentence structures.
4. Cohesive devices used effectively to link ideas.
5. A nuanced approach to the topic, considering multiple perspectives.
6. A clear personal opinion with well-reasoned support.

Band 7 Essay:

This essay shows good writing skills with some room for improvement. Strengths include:

1. Clear overall structure with distinct paragraphs for each main point.
2. Good use of topic sentences and examples.
3. Appropriate vocabulary with some less common words (e.g., “prioritize,” “invaluable”).
4. A mix of simple and complex sentences.
5. A clear opinion presented with some supporting ideas.

Areas for improvement include more sophisticated vocabulary and more complex sentence structures.

Band 6 Essay:

This essay demonstrates adequate writing skills but with noticeable limitations. Features include:

1. Basic paragraph structure with an introduction, body, and conclusion.
2. Simple vocabulary with some attempt at more advanced words.
3. Mostly simple sentences with some compound sentences.
4. A basic understanding of the topic with limited development of ideas.
5. A personal opinion is given but with limited supporting evidence.

To improve, this essay needs more sophisticated vocabulary, a wider range of sentence structures, and more detailed development of ideas.

Key Vocabulary to Remember

1. Interest rate (noun) /ˈɪntrəst reɪt/ – The percentage of a sum of money charged for its use or earned by its investment.

2. Customer service (noun) /ˈkʌstəmə ˈsɜːvɪs/ – The assistance and advice provided by a company to those people who buy or use its products or services.

3. Reputation (noun) /ˌrepjuˈteɪʃn/ – The beliefs or opinions that are generally held about someone or something.

4. Financial (adjective) /faɪˈnænʃl/ – Relating to money or how money is managed.

5. Prioritize (verb) /praɪˈɒrətaɪz/ – To decide which of a group of things are the most important so that you can deal with them first.

6. Long-term (adjective) /lɒŋ tɜːm/ – Occurring over or involving a relatively long period of time.

7. Competitive (adjective) /kəmˈpetətɪv/ – As good as or better than others of a comparable nature.

8. Evaluate (verb) /ɪˈvæljueɪt/ – To judge or calculate the quality, importance, amount, or value of something.

9. Stability (noun) /stəˈbɪləti/ – The state of being stable; firmness in position.

10. Comprehensive (adjective) /ˌkɒmprɪˈhensɪv/ – Including or dealing with all or nearly all elements or aspects of something.

Conclusion

The topic of choosing the best bank for savings is a practical and relevant subject that tests candidates’ ability to discuss financial matters and decision-making processes. While not as frequent as some other topics, it’s a valuable area to prepare for in IELTS Writing Task 2.

For further practice, consider writing essays on related topics such as:

1. The role of financial literacy in personal financial management.
2. The impact of digital banking on traditional banking services.
3. The importance of saving money versus investing in the current economic climate.

We encourage you to practice writing your own essay on the topic provided in this article. Share your essay in the comments section below for feedback and discussion with other learners. This active practice is an excellent way to improve your writing skills and prepare effectively for the IELTS exam.