Best savings account

dee76_3

Hi,fellow money savers,ive recently came into money from my dads estate,although id much rather have him back over the money anyday of the week. I now have funds in several instituitions and have £50000 in which i need to invest in a savings account.Iwas thinking of the 3.25 lock inn bond that Santander is pushing just know,any thoughts would be apreciated

dee76_3

iTAKE IT I WAS RIGHT ,IN THAT THE sANTANDER LOCK INN BOND IS THEW BEST VALUE FOR CASH"soz caps onn" THEY OFFER 1625GBP A YEAR ON 50 K ,THATS THE BEST ON THE GO TODAY CHEERS FOLKS SOZ ABOUT THE CAPS MY KEYBOARD IS GOING A BIT WONKY CHEERS

KingL

You can get higher rates than that, it just depends how long you are prepared to lock it up for. See the best buy savings article on the main site http://www.moneysavingexpert.com/savings/savings-accounts-best-interest

Also, you can get 4.0% on £21,000 of it with instant access in 3 x Lloyds TSB Vantage accounts. See one of the existing threads.

Loughton_Monkey

It depends how much you want to "work" at it. If you are prepared for the hassle of opening new current accounts with Santander, Halifax, and Lloyds, you can get £2,500 at 5%, £7,000 at 4% (Santander/Lloyds) plus £5 net per month (Halifax). This requires capital of £9,500 on deposit, plus £1,000 to 'launder' through the 3 accounts every month.

As has been mentioned, you can also get up to 4% if you are prepared to leave it 3 years.

Personally, I feel that the base rate is bound to go up some time within 12 months, and therefore the Santander bond - already 'best rate' for a 12 month bond at 3.25% would be a good bet since it will track base rate.

As always, look to fill your own (and spouse?) Cash ISA limits if you don't already. Santander's 2.75% rate is equivalent to 3.43% for basic rate tax payer.