Any account higher than 2% ?

chelseablue

I already have an ISA for this tax year and am looking to open a new savings account. Need to save £5,000 by September for a new bathroom and holiday to USA :eek:

Best Ive found so far is the Virgin Money Online Saver paying 2%

Does anyone know of any better paying accounts?

Thank you

moneyhustler88

think halifax was 2.75 when i did it

chelseablue

Best I can find with Halifax is 1.60 %

arcadia00

http://www1.firstdirect.com/1/2/savings/regular-savings-account?WT.ac=FSDT_CTA_SAV_REG1003

Stompa

2.80% 60 day notice any good?

http://www.coventrybuildingsociety.co.uk/savings-and-investments/cash-isas/cash-isa/Cash-ISA.aspx?tab=1

alanq

arcadia00 wrote: »

http://www1.firstdirect.com/1/2/savings/regular-savings-account?WT.ac=FSDT_CTA_SAV_REG1003

The OP wants to save £5000 for 6 months a 12-month Regular Saver max. £3600 is not the answer.

Stompa wrote: »

2.80% 60 day notice any good?

http://www.coventrybuildingsociety.co.uk/savings-and-investments/cash-isas/cash-isa/Cash-ISA.aspx?tab=1

The OP states that they "already have an ISA for this tax year".

The only rate over 2% mentioned by Which? is 2.1% from Post Office Instant Saver. Having read the adverse comments about opening PO Savings in MSE forums I wouldn't bother with the hassle for 0.1% for 6 months which would give you an extra £2 net.

http://www.postoffice.co.uk/instant-saver

For Nationwide BS members of 15 years+ Loyalty Saver Instant is also paying 2.10% gross.

There's a limited access account from West Bromwich BS paying 2.30% but it has already announced a reduction to 1.80% within a couple of weeks.

arcadia00

alanq wrote: »

The OP wants to save £5000 for 6 months a 12-month Regular Saver max. £3600 is not the answer.

With respect, "Need to save £5,000 by September for a new bathroom and holiday to USA" could also be interpreted in a way in which a regular saver is an appropriate answer.

innovate

arcadia00 wrote: »

With respect, "Need to save £5,000 by September for a new bathroom and holiday to USA" could also be interpreted in a way in which a regular saver is an appropriate answer.

Sorry but it is not. The minimum deposit time for literally all Reg Savers, and most certainly for the one mentioned, is 12-months, with hefty penalties for early withdrawals.

stuartyr83

I've got an instant access saving account with Scottish Widows Bank that is paying 2.39%. I'd have a look there.

*ignore, just checked and only offering 1.7% to new customers.

arcadia00

innovate wrote: »

Sorry but it is not. The minimum deposit time for literally all Reg Savers, and most certainly for the one mentioned, is 12-months, with hefty penalties for early withdrawals.

My apologies.

alanq

arcadia00 wrote: »

With respect, "Need to save £5,000 by September for a new bathroom and holiday to USA" could also be interpreted in a way in which a regular saver is an appropriate answer.

The First Direct Regular Saver, which is only available to someone with a First Direct current account, will permit a maximum of £1800 to be saved over a period of 6 months. If withdrawn before 12 months the account earns the standards savings rate of 0.25%. Instead any amount of money could have been paid into a FD Everyday e-Saver for which a bonus of 1% is available on request for new money giving a grand total of 1.25%.

So even with FD the Regular Saver was bad advice for the circumstances described by the OP. Outside FD more than 1.25% is available with more flexibility than the account that you suggested.

Update: I see that things have moved on in the time that it took me to type this post!