Best Easy Access Savings Account

Mrs_Optimist

Its a minefield out there!

We have £20k sitting in our current account, earning pitiful interest as a result of our recent house sale. HOWEVER we will be needing this money within the next few months, bit by bit to fund an extension on our house. Can anyone recommend an account which offers a good interest rate to savers, that allows us to draw funds as and when without penalty please?

Answers on a postcard....

fbrj

Mrs_Optimist wrote: »

Its a minefield out there!

We have £20k sitting in our current account, earning pitiful interest as a result of our recent house sale. HOWEVER we will be needing this money within the next few months, bit by bit to fund an extension on our house. Can anyone recommend an account which offers a good interest rate to savers, that allows us to draw funds as and when without penalty please?

Answers on a postcard....

Ifffffffffffffffff either of you are over 50 - you should have a look at the Northern Rock Silver savers online account. You can: deposit between £1 and £2,000,000, have instant access, transfer funds by BACS and CHAPS and not incur any penalties for withdrawals (eg no interest paid in month of withdrawal) and can elect to have the interest paid monthly. The AER is guaranteed, until January 2010, to be at least equal to UK base rate.

It will be paying 6.00% AER wef 9/6/07 (up from 5.81%).

http://www.northernrock.co.uk/savings/silver-savings-online/

Mrs_Optimist

Thanks for your reply but we are both under 40 (Mr O is .... just!)

codetown

I would go for the very simple and straithforward ICESAVE.
http://www.icesave.co.uk/

It gives you 5.95% AER, paid monthly directly on your savings account, with easy trasfer in/out from your main A/C (bothwith the standard free BACS and with paid-for faster CHAPS).

Simple and trouble-free to set-up and run, with lots of positive feedback from users around.