better than ing?

purple_2

i currently use ing for my savingsmainly based on the good interest and the ease with which i can access my money, i'm currenty saving between £200 and £400 a month depending on my work bonus, having just more or less cleared out my savings to pay for my holiday which was the main reason for starting it initially, i'm just wondering if there is a better option for my money?, i would still like to be able to take out from them when i need to but i'd like to know i'm getting the best i can for it, any suggestions would be great as i'm completely at a loss

grumbler

purple wrote:

... i'm just wondering if there is a better option for my money?, i would still like to be able to take out from them when i need to but i'd like to know i'm getting the best i can for it, any suggestions would be great as i'm completely at a loss

I do not want to sound rude :cool: , but why don’t you just read some information already available on this site before ascking? Namely, SAVINGS section in general and Instant Access Savings: Maximise Your Interest there in particular .
There is a lot of information on this board, Savings Accounts: Instant Access Discussion above for example, on 'ISAs...' subboard and also on Budgeting & Current Accounts board.

zzzLazyDaisy

Awwww..... come on, Purple is a Newbie... be nice! Welcome Purple :beer:

Peter-Pan_5

welcome Purple,you will save a "fortune" on here,just browse around,we all[well I did]

asked these questions when we started.

grumbler

zzzLazyDaisy wrote:

Awwww..... come on, Purple is a Newbie... be nice! Welcome Purple :beer:

Newbie?! :rolleyes:

Join Date: Jan 2004
Post Count: 5

I joined in February......2005

O.K.
ING is good, but not the best. A&L online saver offers the same flexibility, but with 5.35%. Sign up through Linemypocket and get extra £6 cash.
Some less flexible regular saving accounts offer even more:
HSBC 8%,
Halifax 7%,
Derbyshire BS 5.85% …

Inf0war

grumbler wrote:

Newbie?! :rolleyes:

Join Date: Jan 2004
Post Count: 5

I joined in February......2005

O.K.
ING is good, but not the best. A&L online saver offers the same flexibility, but with 5.35%. Sign up through Linemypocket and get extra £6 cash.
Some less flexible regular saving accounts offer even more:
HSBC 8%,
Halifax 7%,
Derbyshire BS 5.85% …

However A&L pays interest annually meaning you have to hold your cash there for a whole year without touching it. ING pays interest monthly. It's better to hold money in ISA.

jimclark1967

Inf0war wrote:

However A&L pays interest annually meaning you have to hold your cash there for a whole year without touching it.

You can move your money around as much as you like, you just get all the interest in one go rather than each month.

Inf0war wrote:

It's better to hold money in ISA.

Yep

grumbler

Inf0war wrote:

However A&L pays interest annually meaning you have to hold your cash there for a whole year without touching it. ING pays interest monthly.

Difference between annual and monthly interest payments is only emotional as it was already discussed HERE !!!

Inf0war wrote:

It's better to hold money in ISA.

Nobody here have doubts about advantages of ISAs. However, ISAs are completely different to easy-access saving accounts. You cannot put more than £3000 into it per year and you cannot put money back after withdrawing.

purple_2

grumbler wrote:

I do not want to sound rude :cool: , but why don’t you just read some information already available on this site before ascking? Namely, SAVINGS section in general and Instant Access Savings: Maximise Your Interest there in particular .
There is a lot of information on this board, Savings Accounts: Instant Access Discussion above for example, on 'ISAs...' subboard and also on Budgeting & Current Accounts board.

you know i've posted in two topics on this forum, once to ask a question and once to answer and both times i got jumped on, well forgive me i thought the point of this board was to get advice and give advice obviously i was wrong, thanks for nothing

isasmurf

A note from the Board Guide

If any member has a problem with a post from another member they should report it to [EMAIL=abuse@moneysavingexpert.com]abuse control[/EMAIL]

Purple - You are right this site is here to get and give advice and we do welcome your questions, but you have to look at it from the regulars point of view. A lot of new people come on here and ask the same questions over and over again, so we end up repeating ourselves a lot of the time. But, I suppose, that's life! There is information in Martin's articles and on several previous threads that 'newbies' could go and look at first and then come and ask a more targetted question. But I'm just as guilty of ignoring Martin's articles and jumping straight into the forum and asking questions, so I know that doesn't really happen in real life!

thor

grumbler wrote:

Difference between annual and monthly interest payments is only emotional as it was already discussed HERE !!!


Nobody here have doubts about advantages of ISAs. However, ISAs are completely different to easy-access saving accounts. You cannot put more than £3000 into it per year and you cannot put money back after withdrawing.

Not strictly true. You can put money back in after withdrawing but only if the total deposit remains less than or equal to 3K per tax year.