New Year - Time to improve my savings options

NH2004

As it's New Year I'm reviewing my savings accounts.

I have an Egg Savings account, which I opened many years ago. I've been adding to it slowly, but over the last year I've been in a position to save a reasonable sum, hence it's grown to about £30k.

I recently got an email from Egg informing me the gross interest rate is now only 2.00% gross. I think I can do much better.

I wrote to Egg to see if they will offer me the 4.00% Gross they are offering new customers. Suprise, suprise they said no! (Don't they want to keep existing customers? I've had this account with them for 5 years now.)

So I'm looking to move my savings elsewhere.

I'm not really looking to tie up the money, as I'd like to be able to access it quickly, if the housing market bottoms out over the next year, and use it towards a deposit on my first property.

I already have used my ISA allowance, and also have my main current account and another savings acount with Alliance & Leicester. Moving it there would take me over the 50K limit.

I'd prefer an account I can manage via the internet, and easily transfer money to and from my A & L current account.

Anyone have any suggestions as to the best accounts at the moment?

Thanks in advance.

Baldur

Take a look at the main site & some of the comparison sites, e.g.

http://www.moneysavingexpert.com/savings/savings-accounts-best-interest

http://www.moneyfacts.co.uk/money/savings/2/internet-savings-accounts.aspx

http://www.moneysupermarket.com/savings/

NH2004

Just an update:

I've since been informed by Egg that I am able to open a new Egg Savings account with the 4.00% interest, even as an existing customer.

However the money needs to be new money into Egg, so I can't simply transfer the money from my old Egg account to the new one.

Instead they advise me to transfer the money out to an external account, and then transfer it back into the new one!

To me a completely unecessary process. Why do banks make it so difficult for existing customers!!!

juicyjude

No loyalty towards existing customers anymore!!!!