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    • rugger68
    • By rugger68 9th Feb 18, 7:21 AM
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    rugger68
    Help with interest on capital
    • #1
    • 9th Feb 18, 7:21 AM
    Help with interest on capital 9th Feb 18 at 7:21 AM
    At present I bank with First Direct, I am looking to move some money to an account to earn me some interest does anyone have any suggestions.
Page 1
    • binaryuniverse
    • By binaryuniverse 9th Feb 18, 7:32 AM
    • 574 Posts
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    binaryuniverse
    • #2
    • 9th Feb 18, 7:32 AM
    • #2
    • 9th Feb 18, 7:32 AM
    What sort of amount are you looking to shift?

    First Direct offer a regular saver, with 5% interest. You can put up to £300 a month in to it. If you have a lump sum, look to open a interest paying current account, then move £300 to the regular saver.

    Top interest paying accounts are:
    Nationwide Flexdirect. 5% on up to £2500 for 12 months. No direct debits needed. Just pay in £1000 a month.

    Tesco. 3% up to £3000. And you an open 2 accounts. Each account needs 3 direct debits to pay out each month, and £750 paid in.

    TSB. 3% on up to £1500. Must pay in £500 a month, opt for paperless banking, and log in to banking at least once a month.
    • Zanderman
    • By Zanderman 9th Feb 18, 7:52 AM
    • 1,390 Posts
    • 3,881 Thanks
    Zanderman
    • #3
    • 9th Feb 18, 7:52 AM
    • #3
    • 9th Feb 18, 7:52 AM
    Read through the MSE guide at https://www.moneysavingexpert.com/savings/savings-accounts-best-interest
    • Kim_13
    • By Kim_13 9th Feb 18, 8:54 AM
    • 1,903 Posts
    • 2,026 Thanks
    Kim_13
    • #4
    • 9th Feb 18, 8:54 AM
    • #4
    • 9th Feb 18, 8:54 AM
    You might also find the MSE guide to regular savings accounts of interest, as they offer comparable rates of interest to the current accounts, albeit on small amounts of money: https://www.moneysavingexpert.com/savings/best-regular-savings-accounts.

    Depending on the sum involved, dripping the remaining amount into such accounts may be the only way to beat the rates offered by standard savings accounts.

    Are you looking to buy a first home at all? It's worth looking at Help to Buy or Lifetime ISA's in this case, due to the 25% government bonus.
    Sealed Pot 11 #520 ~ /£100
    VSP 2018 #9 ~ £19.55/£180.00
    CCCC 2018 #1 ~ £20.75/£180.00

    I'm a Board Guide on the Savings and Investments , Budgeting and Bank Accounts , Credit Cards and Marriage, Relationships and Families boards which means I volunteer to help get your forum questions answered and keep the forum running smoothly. Please remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this.) Any views are mine and not the official line of MoneySavingExpert.com
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