Post Office savings account

smj43

I currently have my savings in a HSBC online saver but the interest rate is a disgusting 0.25% if I make a withdrawal (which I do). I'm currently making about 80p-90p a month on savings between 5-6k. So I did a bit of looking around and found the Post Office savings account with 2.97% gross for the first 12 months. Interest is paid monthly. There are no penalties for withdrawals and I can deposit as much as I want.

This seems like the perfect account for me. The main things I want are easy access and monthly interest. Are there any better deals out there at the moment?

calypso_rhapsody

If you take a look at the Top Savings on this site (see link at top of page) then this is one of the three easy access accounts listed. Coventry is paying a little more 3.1% and making a small donation to the Poppy Appeal but you are restricted to 4 penalty free withdrawals. Santander's esaver account is paying 3% and is an internet account. Post Office AER is actually 3.01%.

So in short this accounts appears to meet your needs as described!

Ciaran124_2

calypso_rhapsody wrote: »

Post Office AER is actually 3.01%.

This is true but if your looking for monthly interest then the annual interest rate drops to 2.97% tho understandable why you would rather get monthly interest than annually.

Hi Smj, What about a flexible isa from santander with 3.3% interest and put £5000 in the account tring to leave it there. Then even open the Post office saving account and act as if it is a normal saving accont putting whatever money you can. This way you should be able to make more interest for the year.