quick savings?

rory_GB

all,

I have maxed out my Isa for tax year 2011-2012.

I am currently saving for a property so wish to get my money out of my current account and into a savings account asap. I have tesco credit card which has another 9 months interest free so I am left with a lot of spare income each month. The idea of the account is to accumulate my savings if needed for a house and get easy access, or to use to pay off my CC when then interest free period wears off, make sense to have it in a savings account earning interest rather than in my current account doing nothing.

Can anyone recommend me a easy access savings account with no penalties and a reasonable interest. I currently also put £300 a month into the first direct 8% account, and my isa is maxed at 5340….i haven’t considered a stocks and shares Isa as I don’t understand them or have time to manage due to work commitments.

Where should I go from here, it would need to be something I could manage online.

Suarez

Maybe have a look at the accounts available with whoever you're banking with.

financial_illiterate

Who do you bank with? They're likely to have an internet-based savings account you could open quickly. The interest rate might be rubbish, but then the best you're going to get anywhere is approx 3% and for convenience it might make sense to take a small hit on the interest, especially as you're not looking at a particularly long time to amass a large amount?

If interest is more of a concern, have a lot at:

http://www.moneysavingexpert.com/savings/savings-accounts-best-interest

rory_GB

i bank with firstdirect so i guess they should be my first point of call thanks

edit....theyre account is 1.25% (0.25 + 1 % bonus) which is pretty rubbish

santander offer one at 3% which is a bit more appealing