What are the best fixed rate savings accounts still available?

drc

All this financial stuff is a bit confusing for me and I have no idea how bonds are. I currently have my savings invested in First Direct and although they have great customer service, their interest rates are lousy so I am going to bite the bullet and look elsewhere. The question is where to start? Me and hubby can invest a total of about 30k but would prefer something with withdrawal access just in case we need to use the money.

Any suggestions

earlgrey_3

Bank of Scotland is offering 5.8% on £30K fixed for one year but allowing 4 no-penalty withdrawals and as many additions as you like. So a sort of limited easy access with a fixed rate.

grnglide

But offer ends 26th November or earlier.

Hurry, hurry, hurry!

drc

earlgrey wrote: »

Bank of Scotland is offering 5.8% on £30K fixed for one year but allowing 4 no-penalty withdrawals and as many additions as you like. So a sort of limited easy access with a fixed rate.

Would the money be covered should the bank go under?

PS. Can you link to it, I can't see it on their wesbite. Thanks!

Baldur

drc wrote: »

Would the money be covered should the bank go under?

As long as you don't have more than £50,000 in all of the banks covered by the Bank of Scotland FSA authorisation - see http://www.moneysavingexpert.com/savings/safe-savings#whatcounts

grnglide

Yes - HBOS (soon to be part of Lloyds TSB) is a full member of FSCS - it is a UK bank.

Of course this account is seriously after deposits over the £50,000 FSCS protection - they have a rate for deposits over £1,000,000.

Kent Reliance BS fixed 1 year bond seems to still be available - pays 6% but need to ring them up to check.

The BOS / Halifax account allows you to deposit further funds and to make four withdrawals in the year - this is unusual.

Baldur

drc wrote: »

PS. Can you link to it, I can't see it on their wesbite. Thanks!

http://www.bankofscotlandhalifax.co.uk/savings/BOSinstantaccesssavingsaccountreward.asp?!!!!!iasarssel

grnglide

drc wrote: »

Would the money be covered should the bank go under?

PS. Can you link to it, I can't see it on their wesbite. Thanks!

URL is

http://www.bankofscotlandhalifax.co.uk/savings/bosinstantaccesssavingsaccountreward.asp

Note that there is a Halifax version which pays 6% but you can only apply if you have a qualifying account with them already

Paul_Herring

drc wrote: »

Me and hubby can invest a total of about 30k but would prefer something with withdrawal access just in case we need to use the money.

Any suggestions

Blatant self promotion (skip the article if you want, though it may be useful for you): http://docs.google.com/View?docID=dwnwdnb_66drzgz6f4&revision=_latest

Direct links to fixed rate savings start just after 1/2 way down.

(To anyone else who bothers reading it, constructive criticism welcome.)

SuperSal

Just about to open The royal Bank of Scotland's Instant Access when I realised we have our Isa's with LLoyds TSB.
This would put us over the limit if and when the takeover happens.
This stupid limit is driving me mad!

I'm fed up with chasing around.
Already have an Abbey account so that stops lots of others. I was going to open others but typically can't do this until another bond matures this Thursday, then by the time cheque arrives, gets cleared etc we are out of the country for 2 weeks. already the BM and Poppy bond have closed, even though I'd got all the application forms

KenC_3

SuperSal wrote: »

Just about to open The royal Bank of Scotland's Instant Access when I realised we have our Isa's with LLoyds TSB.
This would put us over the limit if and when the takeover happens.
This stupid limit is driving me mad!

I'm fed up with chasing around.
Already have an Abbey account so that stops lots of others. I was going to open others but typically can't do this until another bond matures this Thursday, then by the time cheque arrives, gets cleared etc we are out of the country for 2 weeks. already the BM and Poppy bond have closed, even though I'd got all the application forms

No, it is Halifax Bank of Scotland who will/ may join up with Lloyds TSB, not RBS.