Best home for savings

DavidRossitter

Hi

I have some cash that I want to lock into the best rate for the next 1-2 years ie it doesnt need to have instant access but it needs to be safe (ie I will keep below £50k in any one account).

I see the AA is doing 6.45% via Bir Midshires and am tempted that way but maybe they are just the last to make a reduction. I assume this is covered to the first £50k?

So should I fix or go for one of these "higher" variables. ANy specific recommendations on any suitable homes would be appreciated.

I dont really want to speculate with this money beyond that.

Cheers, David

anna42hmr

have you got a cash isa yet, if not i would recommend finding a decent one and using that, at least it is tax free then after that if you are looking for a fixed rate regular savers account), barclays are doing one at over 7% fixed for a year (the monthly savings account, can pay up to £250 per month in, if thats something you are looking for.

Tesco internet saver also currently still has a decent rate, but there has been so much palarva sorting it out, i wouldnt recommend it

also have a look at www.moneysupermarket.com web site and go to the savings section, put in what type of savings account you want and how much to invest and it gives you details of the current "best buys" beware though with the interest rate going down as it has done, a lot has changed lately

apt

The AA account will go down sharply to take account of the 2% reduction in base rates. The best home for your money in HBOS is Bank of Scotland Instant Access Savings Account Reward 5.8% fixed for a year, £5,000 minimum balance or the Halifax Guaranteed Saver - 6.0% fixed for a year, £2,500 minimum, funded current account required. But both these offers close soon. You need to get your money in before 26 November. Both allow 4 withdrawals without penalty.

DavidRossitter

Hi

Yes done the fixed rate ISAs in April.

But the fixed saving suggestions look good - and thanks for the AA advice.

Cheers, David

Lucky2008

Did Bank of Scotland today.Was advised to do CHAPS transfer as they might end this earlier than 26th,also BACS could have missed the deadline.