£15,000 savings into a high street bank account

Bob_zodiac

I would like to put £15,000 into a high street bank savings account.
I would like no risk and instant access.
Which banks are best for me?
And would i be able to pay more into the savings account?

thanks.

viccig

First Direct do an e-savings account which pays 5% and is instant access. Plus I would consider putting 3k into an isa then another 3k after 5th april to take advantage of the end of the tax year.

Bob_zodiac

I think that's an online account.I just want a high street bank savings account.

grumbler

Bob_zodiac wrote:

I would like no risk and instant access.
Which banks are best for me?

See Instant Access , Moneysupermarket* and Moneyfacts links in the blue box above.

And would i be able to pay more into the savings account?

Why not?

viccig wrote:

First Direct do an e-savings account which pays 5% and is instant access.

'If any withdrawals are made in a calendar month, no interest will be paid on the whole account balance for that month.'
1-month interest on £15K is £50 net.

P.S. In Martin's article information about A&L Online Saver hasn't been corrected yet. The rate is 4.25% now, not 5.15%.

Bob_zodiac

They all seem to be internet banking.

Can anyone reply who has walked into a HIGH STREET BANK and opened a savings account.

thanks.

MPH80

There's a good reason why people recommend the online accounts - simply because they pay far more interest.

I dug up a few accounts from 'High Street' banks (e.g. a bank you should find in every town).

The first were from Abbey - their 'Branch Saver' but it wasn't very clear whether withdrawls were allowed or not - that was 3.7% APR - it seems to go down the more withdrawls you make.

There were others - but all mainly 3% or below.

Have a look here:

http://www.moneyfacts.co.uk/savings/search/savingsearch.asp?noFixedTerm=1&branchAccess=1&investment=15000&instantAccess=1&age=18&accounttype=1&sortby=company

codetown

You might also want to explore postal/online accounts which give you a card withdraw facility. This might be an option to get a better interest but still be able to do the main finances locally without a regular internet account.

For example I use the Nationwide InvestDirect, which has both postal and online facilities, but can be opened in a branch and operated perfectly well via a cash card you receive free (usable on any 'Link' cash-machine).
This is not top interest (currently 3.85%), but very convenient.