Savings Accounts - Best Home for Money?

Loobeylou

Due to confusion somewhere along the line, I posted this thread twice - however, the wrong thread was deleted (not by me .....!)

Wanting advice please on:

1) What is the best place (and rate) to put savings in a 12/24/26 month bond? Should I do this if rates are increasing?

2) What is the best place (and rate) for my money if I want instant access?

3) Best place (and rate) for a regular saver's account?

ReportInvestor

1) 1 Year Fixed Rate = 5.85% Anglo- Irish Bank
3 Year Fixed Rate = 5.71% Heritable Bank
Should you go for either of these? It's got to be your choice. If you are in doubt then go for the shorter term as there's less chance of damage.

2) Landsbanki's IceSave @5.45% (easy access rather than instant access as it's an internet account).

3) Ipswich BS Target Saver @ 8.25% minimum £90pm

Loobeylou

Many thanks ReportInvestor - I do already have on-line banking, so accounts that can be checked on-line are good as far as I'm concerned. And yes, from the point of view of rising interest rates, shorter is better than longer term investment.

I have found in the past that I have been unable to withdraw funds from long term accounts when the rate has become old hat.

Also that rate by Ipswich BS sounds really good - any snags attached?

ReportInvestor

You must keep up the same monthly payment for 12 months.

Early withdrawal only on closure and loss of 120 Days interest .

So you've got to earn your rate.

Loobeylou

Applied to Ipswich today! Thanks for the info.


PS: Ipswich state that there is a closing date for applications for the Target Saver account - 14 December 2006.