Which savings account?

garetjax

hi,

I have ~ 75K ( redundancy payout) and would like to save it. I've just started some early research but I have a few initial questions:

1. Can you recommend any savings accounts? I was looking at the Best Buys, so ING, EGG, Brad & Bing e.t.c But im wondering if a Bond is a better option, or even some sort of Offshore Account? I prefer internet access. I dont mind locking up about half to 3/4 for one year, but want some accessable in an emergency.
2. As I am now unemployed and relying on my wifes earnings. Is it possible to claim the tax back on the interest?
3. I vaguely remember reading that just 35K is "protected" if the bank goes down. Is this correct? Should I therefore have a number of accounts with 30K max in?

Thanks for any pointers.

Steve_xx

Kaupthing is good for a yearly bond, paying 7.15% or you could have a 6.55% basic account with them

http://www.kaupthingedge.co.uk/

Or you could have a yearly bond with ICICI Bank paying 7.2%

https://www.icicibank.co.uk/index.html

Don't put more than 33k in either, thus allowing for interest to be added without going over the 35k protected amount.

You may be able to claim the tax back on your interest if you have no other income that would effectively take you above the personal tax allowance threshold.