Lloyds or Barclays, best place for savings account?

trikidy

Hello, I have both a Lloyds easy saver, and a barclays everyday saver.
Had a look on the interest and it seem Lloyds is alot better, can you check for me which gives the best interest?
Lloyds at 1.6% and Barclays at 0.6%, is that right? Seems a big difference. Here is what I found on their website

Lloyds
A variable rate of interest of 1.60 AER/Gross. This rate includes a fixed introductory bonus of 1.50% AER for the first 12 months. View full Easy Saver interest rates.

Barclays
All rates include a fixed rate introductory bonus of 0.55% gross pa – the bonus is payable for 12 months from the date you open your account, after which time the rate will reduce accordingly 2

InsideInsurance

Neither look particularly good rates compared to others especially if you are including those with bonus rates - can certainly achieve over 3% elsewhere AER http://www.moneysupermarket.com/savings/

trikidy

InsideInsurance wrote: »

Neither look particularly good rates compared to others especially if you are including those with bonus rates - can certainly achieve over 3% elsewhere AER http://www.moneysupermarket.com/savings/

True, but of the two it is Lloyds yeah?

innovate

trikidy wrote: »

True, but of the two it is Lloyds yeah?

yes, but are you really sure this should be your question?

What is your objective - - to make the most interest you can for yourself, or to stick with the better of two really bad interest payers?

ses6jwg

both absolutely rubbish

agrinnall

Nor surprisingly they are both very poor. However, I'd be happy for you to take one of them, the more people that settle for rubbish rates the more money there is to pay the rest of us a higher rate .

trikidy

Thank you for replies, I need instant access to it.
Looking at the ING direct online one, seems good interest at 3.1%

Thoughts guys?

innovate

ING are not covered by the FSCS guarantee. You might still find them acceptable. But best check out are your savings safe?

MoneySaverLog

Lloyds Vantage accounts give you 3% on balances between 3-5K and you can have up to 3 of them. You just have to cycle £1,000 between all 3 accounts every month.

trikidy

MoneySaverLog wrote: »

Lloyds Vantage accounts give you 3% on balances between 3-5K and you can have up to 3 of them. You just have to cycle £1,000 between all 3 accounts every month.

Thanks, I'm only saving around a grand though, I've an ISA too that I have savings, but I have some excess that a nice savings account that I could access whenever would be good.

So if I only have around £1000 in ING would that be covered by anything if worst came to worst?:)

xylophone

http://www.money.co.uk/savings-accounts/instant-access-savings.htm