Which Savings account?

gilly41

Hi
Can you advise me as to what savings account would be best for me? OH and I have never had any savings and since joining MSE for the first time ever we are starting to see a little bit of "spare" money each month. Once the CC is paid off we are going to start saving

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any advic as to which account.I dont like online banking

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so any others you can suggest?
Thanks
x

C_Ronaldo

why dont you like internet banking

codetown

If you are a tax payer, open an ISA.
Choose your local favourite institution if you don't like online banking. You may check the current best rates at https://www.moneysupermarket.com and decide on the top paying one which has a local branch. You can have 3k pounds each per minicash-ISA and one each every year.

If you don't pay tax, I would suggest to go with a regular saving, which helps putting away regular sums every month. There are some paying 10% (A&L) but with conditions. Some others are easier to access but pay less (8%,7% etc; check the site above for the rates).

If you don't want to have a regular committement, find an instant access account. Besises the ones online there are not so many paying a good rate

jonesMUFCforever

Lloyds Tsb are launching a monthly saver a/c next week (min £25 max £250 pm) paying 8% gross guaranteed for 2 years.
You have to pay into it by standing order from a LTSB current account although in the first week you can make an initial deposit of up to £500.Instant withdrawals if you want and you can vary your monthly s/o at will.

EagerLearner

I think the Post Office offer reasonable rates if you want convenience - and many other banks allow you to deposit at the post office so maybe check out your local PO and see what they offer, plus what banks allow deposits to be made there. Check Martin's Savings Guide (use the Quickjump at the top left of the screen) for the latest best rates - alot of them probably online but some may be in the high street.

I just opened an ICICI account which is offering good rates, but these accounts seem to be online only, so check out the PO and Martin;s advice.

EagerLearner