saving account for student

thistleboon

Which is the best account to save 550 plus GBP., with instant access please?

Savvy_Sue

Your student status is, IMO, irrevelant. Look at Martin's articles on savings and work out whether you are liable to pay any tax this year or not - that might make a difference to what you choose, because if you're NOT liable to pay tax you can have your interest paid gross.

thistleboon

Yes I am not liable to tax this year

Lord_Chris

i have 2 accounts, Nationwide are good because they have a relatively high interest rate... but i also have a Halifax account because they give you a debit card so i can shop online

HTH

edit: the other good thing about Nationwide is their online banking is great... very easy to use and if you want e-savings or have another Nationwide account (i have a flexaccoutn and one of their smart accounts) the transfers between them are instant. Halifax's internet banking on the other hand i hate... not the easiest to read and it makes it difficult to keep track of your finances. dont know about other banks, but if anyone else wants to comment...

muddyfox470

any account that has instant access is fine. just make sure you request an r85 form and fill it in and hand it back in to the bank/bs to enable you to get interest paid without tax.

i have a natwest online saver, sure it doesnt pay much, but i put my money in, and use my maestro card using the overdraft, and then when i need to top up my card, i just transfer money into the account and its done immediately. that means i have hassle free access to my money, and get interest on the money that i can, sure it doesnt pay high amounts, but it does pay a bit more than 4%.

recently the interest rates have been falling for no reason, however there is a new savings account from birmingham midshires (operated online) that is guaranteed to be 0.25% above ING's rate until sometime next year.

but for the best rate go with icici some people havent had great experiences, but the rate is top notch, it is instant access etc (bar the 3 day transfer time - and that is why i use my natwest online saver); but i think you have to be 18 to open the icici account.

nationwide has been pretty consistent over the years, and they offer a no hassle online saver account, that normally offers a competitive rate.

hope that helps

ian

misskool

ICICI bank pays 5.15%, online banking and if you fill in an r85 you can get interest without tax taken off.