Regular saver and ISA account

hitman08

Was looking at different saving accounts and came across HSBC which have a 4% AER fixed for 12 months paying in £500 a month seems ok, there was a higher rate from First Direct of 6% but I'm unsure as it doesn't have a branch and not sure how safe it is. Did some calculating and £6,111.23 was the earning I'll make. Is that the right figure I'll be earning?

I also had a look at ISA accounts especially Santander 123(2yr fixed) and Halifax(3 year fixed) both 3%. Would it best to do 2 years and see if the rate goes up or just stick it to 3 years?

I'm planning to do both the regular savers and get an ISA account.

saintalan

Hi

Personally I dont like Fixing but with rates so poor this year I have transferred existing ISA (12/13) into Santander 3% 2 year fix.

For this year (13/14) I am drip-feeding Nottingham BS Regular Saver ISA 4% from my Santander 123 current a/c 3%.

Hope that helps.

Alan

innovate

If you are a non tax-payer, you will get £129.22 if the AER is 5% and you deposit £500 a month. Use the MSE Reg Saver calculator to figure out returns after tax. http://www.moneysavingexpert.com/savings/best-regular-savings-accounts#calculator

However, I am not sure HSBC offer a Regular Saver into which you can deposit £500 a month - could you provide a link please?

As to FD - - they are owned by HSBC, and , like HSBC, covered by the £85K FSCS guarantee. If you are happy with HSBC, there is no reason why you shouldn't be happy with FD.

logie48

innovate wrote: »

If you are a non tax-payer, you will get £129.22 if the AER is 5% and you deposit £500 a month. Use the MSE Reg Saver calculator to figure out returns after tax. http://www.moneysavingexpert.com/savings/best-regular-savings-accounts#calculator

However, I am not sure HSBC offer a Regular Saver into which you can deposit £500 a month - could you provide a link please?

As to FD - - they are owned by HSBC, and , like HSBC, covered by the £85K FSCS guarantee. If you are happy with HSBC, there is no reason why you shouldn't be happy with FD.

You have access to some services with your FD account through HSBC branches.

Oh, and I phoned FD today regarding my account, first time. There was me with the feet up thinking I'd need to go through about 9 sets of options before I spoke to someone. 2 rings and 'hello, how can I help you today?' Was taken aback by it, but a refreshing change.