Whats the highest % savings account?

Walletwatch

Guys,

Nothing dodgy about it (apart from the sneaky aspect that you need to have your income coming into an HSBC account to qualify for the 8% account)

The point here is that the acct is a Regular saver acct, so the amount you put in monthly is fixed (between 25 and 250 pounds) and you agree to deposit it every month for twelve month. This earns 8% p.a. which is only marginally higher than a similar acct offered by the Halifax offering 7%.

The sneaky aspect comes in as you allow HSBC to enjoy the float of rest of your salary sitting in your HSBC current account earning a measly 0.1%. So if you are ready to invest some time and discipline, and move your salary acct to HSBC, and move away your salary to another high interest c/a, leaving enough to fund the Reg Saver deposit, and do it for twelve months, it might make sense, otherwise, the acct is a dog.

bridiej

I've just opened the 8% HSBC savings (already a current account customer although only pay a minimal amount in there)

BUT

having thought overnight I may well need to get my money out before the year is up, so therefore I wont qualify for hte 8% will I?

If this is the case where's the best savings account to save £250 a month where I can get access whenever? (already ISA'd up to the hilt!)

Thanks

simonkirkland

I think the A+L online savings at 5.35% is probably better for you and not a drip feed savings as they all have some sort of limit on taking out the cash. (most say no withdrawals and some may let you have 1 a year).

A normal savings lets you add and remove when you want.

Simon

bridiej

Thanks Simon