Which savings account?

adamg1234_2

Hi,

Im looking for a bit of advice....

I've currently got around £8,000 to put up into savings, i've already used up my allocation on my ISA for this year. I was looking at the HISAVE fixed rate savings account. I dont really need instant access to the money so putting it away for a period wont be a problem.

I'm wondering if this is the best option for me?

Thanks in advance,

Adam

tradetime

I dont really need instant access to the money

My highlighting, you need to be really sure you don't need access to your money before you opt fo a fixed rate deposit, as some will penalize you heavily for early access, and other just won't let you. One alternative if still available, I think is the Northern Rock "Access Bond" not too bad a rate last I looked, about 6% but you do have access, and the surety of the rate being fixed.
If of course you are sure you will not need the money, then yes the HiSave bond imo is a good option.

isofa

A search of the forum would help you as this crops up daily, you question has been answered many, many times.

If you can lock the money away, go for fixed rate, around 7%.

If you can't go for instant access, you'll get up to 6.55%.

Best rated accounts listed here at Moneyfacts.