General saving advice please

blacksword

Hi,
I want to put a few quid away, as and when I have some spare quids to put away.
So a regular saving account (each month minimum deposit), is no good to me.
Can anyone offer any advice or recommend somewhere that gives the best interest rate.

Archi_Bald

You could start by reading the savings section on the main site http://www.moneysavingexpert.com/banking/?tab=sect7

jimjames

Advice. Don't use ISAs despite what mse tell you.

Current accounts paying 5% are best return and most flexible for small amounts.

blacksword

JimJames, if you can direct me to an account which pays 5%, without having to deposit a fixed minimum sum each month, etc., I would appreciate it, and also be amazed if you can. ;-)


ArchiBald, I had already read most of it, but it all seems to be about regular savings accounts,minimum fixed monthly deposit amount,etc,etc.

jimjames

blacksword wrote: »

JimJames, if you can direct me to an account which pays 5%, without having to deposit a fixed minimum sum each month, etc., I would appreciate it, and also be amazed if you can. ;-)
.

Do you get paid salary every month?

TSB doesn't require any fixed minimum sum to remain in the account. £500 has to go through the account every month but that can be taken straight out the same day. So you can move £500 on payday and put it straight back in your normal account.

By all means ignore current accounts but they are perfectly feasible for most people and far more flexible than most savings accounts. The deposit levels are not like regular savings account so you do not need to pay your salary or fixed amounts in.