Any Decent Savings Accounts (not ISA)?

anotheruser

Are there any half decent savings accounts out there, which are actual savings accounts?

It seems my ISA deposits must be in by May of this year so I can't regularly put money away there, plus I may need to save more than what is allowed. I'd rather not have a normal current account. My current HSBC savings account is at 0.75% interest.

I've read on the site that the Coventry building society earns 2%, would you suggest this is the right area of interest I should expect?
A bit sad as I'd rather not have yet another company with my details or another file of paperwork

Any ideas would be great.

anna42hmr

anotheruser wrote: »

Are there any half decent savings accounts out there, which are actual savings accounts?

It seems my ISA deposits must be in by May of this year so I can't regularly put money away there, plus I may need to save more than what is allowed. I'd rather not have a normal current account. My current HSBC savings account is at 0.75% interest.

I've read on the site that the Coventry building society earns 2%, would you suggest this is the right area of interest I should expect?
A bit sad as I'd rather not have yet another company with my details or another file of paperwork

Any ideas would be great.

are you looking for fixed rate? instant access? notice account etc as what is suggested would depend on your needs, as a start I would look at http://www.moneysavingexpert.com/savings/savings-accounts-best-interest and http://www.moneysupermarket.com/shop/savings/

you can defiantly get better rates than 0.75%

I know what you mean about another bank having your info, however I would personally never rely on having money with one bank alone, as has been shown recently what if that banks systems go down (as seen by rbs/NatWest/ulster customers) who in many cases couldn't get access to money for days? Not to mention if the bank goes bump, yes there is protection via fscs, but would take a while to get the money back.

anotheruser

Ha ha, I just won't bank with those banks as my current account has never "died" :P

However it seems I have three choices: Coventry BS, Santander or Halifax. The latter two I'm connected to anyway so would be straight forward, but the Cov gives a better rate for savings so it's with them I think I will lie. Plus, an online only account suits me much better

ScarletBea

I'm also trying to decide which savings account to use... and guess on evolution of exchange rates...

Shall I believe that it must get better soon, and fix for just 1 year, then it's 1.85% from Nationwide? Or think it will take longer, and then it's either 2 years at 2.3% from Halifax or 2.5% on 3 years from Leeds BS?

(before someone mentions the 'best buys' on the main site, I don't want online-only banks due to ID verification via post)

King_Weasel

Nationwide 5%, Lloyds Vantage up to 3%. Need to comply with conditions.

Also, various regular savers around 4-5%.

ScarletBea

King_Weasel wrote: »

Also, various regular savers around 4-5%.

Considering that these take around £250/mth only, the real yearly rate in much less than 4-5%.
So good for drip-feeding but not for lump sums, but I guess you were replying to the original thread, not my question, sorry.