*Wanna move my £7,000 from egg to.....?*

CharleneUK

Egg are OK, but I've realised their interest rate is not the best place for my money.

First direct are higher, but I don't like the fact that if you withdraw in any month, they don't pay interest on ANY of the money.

Does anyone have any recommendations at all?

KTF

Are you after instant access or are you prepared to lock it away for a bit?

grumbler

See the blue box above:

Instant Access => Top Accounts

I don't know why Nationwide e-savings account is not mentioned, although it has the same 4.75% rate as ING.

Aslo: Moneysupermarket* and Moneyfacts links.

Do you use Regular Saver accounts and Mini-cash ISAs ?

CharleneUK

Thank you both.

I don't mind locking it away for a while, maybe a year? But either one is fine.

I'll check those links out now.

grumbler

For regular saving see also Alliance & Leicester offers 10% savings on top of current account during November! (offer was extended).

Reaper

If you are happy to lock it away untouched for a year then the First Direct account isn't so bad.

The worst thing you can do with the FD account is to keep taking small sums out and leave the rest there because you keep getting hit by the interest penalty.

The best thing you can do is leave it untouched until you need it then withdraw the whole lot on the 1st day of the calendar month. That way you don't suffer any interest penalty.

CharleneUK

Thank you