Savings advice wanted...?

mil200

Hi,
I'm 16 and am wondering which bank account would be best for interest rates. I have just over £1200 at the moment and am earning about £150 a month... I've never had much money before so I didn't worry about it, but as I am saving most of it now I thought I'd look around. Any help or advice would be very welcome!
Thanks

SeanW

Icesave pay 5.7%, and if you earn less than £5k a year, you can get it interest tax free by filling in the form R85.

If the money is going to be there for a while (beyond your income going above £5k), you might open a mini cash-isa, there are no benefits while you earn less than £5, but with some variable rates available around 6%, there is potential for future benefit. You can put up to a maximum of £3 000 a year into one of these.

mil200

thanks, i checked on icesave but you have to be 18. ah well i'll try an isa, thanks for the help!