Which account?

surfergirl_3

Hi folks,

Need a bit of advice.

Would like another pot to but a bit of extra money away.The amounts will be variable from a few pounds upwards(earned from extra hours at work), in the past they tended to get swallowed up in the current account on bits and pieces, but i would like to put them elsewhere and use them for specific things, holidays, days out and special family treats.

I am toying with the Sainsbury saver paying 4.75% interest paid annual or
Ing direct paying 4.50% interest pd monthly.

Accounts are to be managed online, and with no ties to opening other accounts in order to operate them, just to keep things simple!

Which would you advise, or am i missing others?(already have an ISA)

Any advice gratefully received.

Cheers, surfergirl :beer:

Stompa

http://www.thisismoney.co.uk/saving-and-banking/article.html?in_article_id=406070&in_page_id=7

Stompa

Macce

Oh no ! Does that mean my introductory account at the moment with them earning 5.3% will drop too ?

cadboll

I'm not sure about the introductory account, but would imagine it will drop at some point.

Another account to consider is First Direct - 5% Gross/AER. It pays interest on a monthly basis - but no interest is paid on the month you withdraw. Its fine if you are just putting money in and intending to leave it there. Another option is Nationwide E-saver - rate is 4.75% Gross/AER and is paid yearly.

Another alternative might be the regular saver with Halifax - offering 7% Gross/AER. However, I think you need to be putting money in on a regular basis and the minimal amount is £50 ( I think!)

surfergirl_3

Thanks for your advice Cadboll, looked at F/d, but as the money will be in and out, i think i will loose out interest wise.

The Nationwide a/c i think requires another account to transfer in and out of with them, such as a flex a/c.

I will check out the Halifax as you suggest.

Cheers surfergirl

surfergirl_3

Hi Stompa,

Checked out your link.

This looks very interesting(sorry) will check out in more detail.

Thanks again for your trouble.

Cheers Surfergirl :beer: