Want to get a better savings rate - pls advise!

aquariangrrl

Hi, I'm thinking about putting my savings in a higher rate account as I have quite a bit and at the moment they are with First Direct getting a paltry 1.25% gross. Can anyone recommend an instant access account. I would prefer monthly interest but don't mind if it is only added after a year.

Thanks.

YorkshireBoy

http://new.egg.com/visitor/0,,3_11093--View_401,00.html

Baldur

aquariangrrl wrote: »

I'm thinking about putting my savings in a higher rate account as I have quite a bit and at the moment they are with First Direct getting a paltry 1.25% gross. Can anyone recommend an instant access account. I would prefer monthly interest but don't mind if it is only added after a year.

Check out the usual comparison sites and see what suits you:

http://www.moneyfacts.co.uk/money/savings/4/instant-access-savings-accounts.aspx
http://www.moneysupermarket.com/savings/
http://www.fsa.gov.uk/tables/bespoke/SavingsAccount

ScarletBea

I'm a bit annoyed that the majority of the best easy access rates have a limit between 3-5 withdrawals.
Then they shouldn't be classified as easy access, should they? Ok, they are, but not like the normal easy access...

AndI needed one with unlimited withdrawals AND faster payments in and out... otherwise it's not really worth it

G_M

Faster Payments in and out will limit your choice. See the thread here.

basically the higher the rate, the more the restrictions eg no/limited withdrawals over a time period, access limited to internet only etc etc.

Go to a branch-based mainstream bank offering Faster Payments and instant access and you'll get peanuts.

So decide what are the absolute basic requirements you MUST have and shop around.

ScarletBea

I know... I might go and ask Natwest (my bank), see if they can keep the bonus on my esavings for a few more months hehe
If not, I might go for the A&L 3.15, and just get FP in.

Baldur

ScarletBea wrote: »

I know... I might go and ask Natwest (my bank), see if they can keep the bonus on my esavings for a few more months hehe
If not, I might go for the A&L 3.15, and just get FP in.

Egg are offering slightly more at 3.25% (variable inc. 2% one year bonus) and also accept inward FP.

YorkshireBoy

Baldur wrote: »

Egg are offering slightly more at 3.25% (variable inc. 2% one year bonus) and also accept inward FP.

...and they do 3-day BACS out, whereas A&L is 4 days to a non-A&L linked account.

Ifts

Egg Savings Account (Internet) introductory rate (for accounts opened from 15 September 2009) 2.50% gross pa/AER variable (includes introductory 12 month fixed bonus rate of 1.25% gross) Egg Interest Rates