savings

chris_tomcat

hi, im 20 years old and currently an apprentice engineer. I have set up a savings account with halifax where by i pay 250 pounds a month for twelve months then it gets transfered over to an instant saver account.
I also pay abount 400 pounds into my instant saver account but the interest is only abount 2.3 %. I have saved up quite abit in this account and was wondering how i could gain more interest as i dont draw this money out. I have also got an account with birmingham midshires where i have about 6000 in there but it is closing to become part of halifax i think so im looking for somewhere to pay this money into with a high interest rates as i will not be withdrawing regularly.

thanks chris

grumbler

Start with Martin's Where to start with savings guide. It is time for you to have cash ISA that pays iterest tax-free (you can save up to £3000 per tax year). Halifax has ISA that is one of the best at the moment with 5% interest rate. And their instant access Web saver pays 4.65% - not the best rate, but much more than 2.3% ...

chris_tomcat

thanks for the advise. I appreciate it

chris