Which account would be best for me ?

welshgirl_michelle

I've put the maximum amount into my ISA account already so i'm looking to see which account would be best for me to open to same money? I'm saving for a house deposit and I bank with Halifax at the moment. Suggestions would be great

Consumerist

How long before you expect to need your savings for house purchase?

If less than a year then an instant access account would seem to be your best bet. If longer than a year then a fixed-rate, fixed-term account might get you a slightly better rate.

Split your savings between the two types if you will want to open a new cash ISA from April.

See the Banking & Savings tab at the top of the page to investigate your options.

welshgirl_michelle

Consumerist wrote: »

How long before you expect to need your savings for house purchase?

If less than a year then an instant access account would seem to be your best bet. If longer than a year then a fixed-rate, fixed-term account might get you a slightly better rate.

Split your savings between the two types if you will want to open a new cash ISA from April.

See the Banking & Savings tab at the top of the page to investigate your options.

Thank you. I've already got enough for a deposit but I want to save more to have a higher deposit and enough money for furniture etc. I'm guessing it will be within the next year

Consumerist

welshgirl_michelle wrote: »

. . I'm guessing it will be within the next year

So instant-access savings seems to be your best bet at the moment then fill up your cash ISA in April.

badger09

welshgirl_michelle wrote: »

Thank you. I've already got enough for a deposit but I want to save more to have a higher deposit and enough money for furniture etc. I'm guessing it will be within the next year

Have a look at Regular Saver accounts - see the link at the top of this page.

apt

If you don't need the money in the next year and are willing to open a current account - First Direct - 8% for the regular saver and £100 for opening the current account. They also have some decent mortgage offers.

innovate

apt wrote: »

....and £100 for opening the current account.

£125 special offer: http://www.moneysavingexpert.com/latesttip/#bankbribe

apt wrote: »

They also have some decent mortgage offers.

A lot can change in a year

Nessie23

Saffron Building Society have a regular saver giving you 4% the big advantage is that is gives you instant access and unlimited withdraws max contribution £200 per month.

Not as high as First Direct's 8%, however a good place to park some money whilst still having access to the money.