best place to open a savings account

lauranurse

hi
I am looking to open up a savings account i used to have one with the abbey national but the interest wasnt very good so recently i have just been leaving my money in the bank. I am looking to save £50-£100 a month any advise would be very helpful!!!

Joe_Bloggs

Martin has an excellent series of articles starting here. Are your savings for the long term or a specific goal? Would you require instant access to your savings? What is the best savings deal you can get with your present bank. ? Do you get interest on your current account ?
J_B.

lauranurse

i am looking to save in long term but it would be useful to have instana access incase i want to go on holiday or something!!! I just spoke to my bank they said i have to go in to arrange a savings accoiunt seems stupid but will do that at some point my current account has really low i nterest not sure the percentage but seem to earn 7p a month ha ha ha thanks for yout help

Joe_Bloggs

I asked because perhaps you are not getting the best deal from your existing bank. If they want you to go in it will probably be some kind of sales exercise for them, to get hold of more of your money, at your expense. What would you say would be a good deal on an account from them ?

Could you have found out the accounts rates available from the internet ? Can you find out the rates payable on current accounts from your statement ? Do you have online access for your finances ? Are you comfortable with this technology ?
There is not a lot of money to be made or lost on the interest from £50 to £100 a month. They key is to maximise the amount of interest and convenience for you.
J_B.