Best bank for my savings? Please share knowledge!

HeatGuy

Hello folks,

I currently have £4k saved but my bank account pays basically no interest at all. I take home just over £1,500 per month and am looking to grow my savings.

I want some input as to what would be the best option for an account!

I'm looking at Llloyds Club account but am concerned that they need 2 Direct Debits, I only have 1 which is Paypal which I do use monthly so assuming that counts? Is there some other account I can use to setup this second DD?

Also I should state that I have been temping for a couple years now, so maybe with Lloyds £1.5k+ deposit per month maybe not wise long term? Considering work contract could be cancelled at a moments notice lol.

Just need help off all you wonderful people

Cheers in advanced!

leeroy2009

tsb classic plus at 5% interest on max 2k balance, think you can still have 2 of these accounts but you need to act quick as they are restricting it to only one account, no direct debits needed, and only needs £500 deposit each month and can be internally transferred in (if you get the 2 accounts)


http://www.tsb.co.uk/current-accounts/classic-plus-account/


and you should also treat your self to a Halifax rewards that pays you £5 each month, 2 direct debits needed, but can be got around with a Tesco savings account, and a paypal direct debit, needs £750 paid in each month and needs to stay in a positive balance through out the month.


you could also bag a £100 switching bonus for switching to the Halifax rewards account, and im sure there is a additional £40 to be had going via a cashback site.


the Lloyds club only pays decent interest on a 4k balance and over (but less then the tsb) someone else may advise yet another account to have for additional savings from your monthly wages after you get your 4k into the tsb accounts.

grumbler

HeatGuy wrote: »

Just need help off all you wonderful people

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thebritishbloke

leeroy2009 wrote: »

tsb classic plus at 5% interest on max 2k balance, think you can still have 2 of these accounts but you need to act quick as they are restricting it to only one account, no direct debits needed, and only needs £500 deposit each month and can be internally transferred in (if you get the 2 accounts)

Only people who opened a TSB Classic Plus account before (I think it was November) are allowed to open two by the end of this month. New customers can only open one.

Archi_Bald

Several people reported that they opened 2 sole accounts in the last couple of weeks. Worth trying before the month is out.

Dovestones

Archi_Bald wrote: »

Several people reported that they opened 2 sole accounts in the last couple of weeks. Worth trying before the month is out.

Opened a TSB Classic Plus early December n just tried to open a 2nd but screen flashes up 'Sorry we can't offer you a secondary current account'!
Ah well!

Hazzanet

Roy_D wrote: »

Opened a TSB Classic Plus early December n just tried to open a 2nd but screen flashes up 'Sorry we can't offer you a secondary current account'!
Ah well!

The key is to apply when not logged in.

HeatGuy

Thanks for helping everybody!

Hazzanet wrote: »

The key is to apply when not logged in.

So does this work still then? When was last success with this?

Just don't wanna waste a ton of time if it doesn't work.

So alternatively I'm guessing the lloyds club is gonna be my best option apart from these? Cheers again everyone the response has been great!

Hazzanet

HeatGuy wrote: »

So does this work still then? When was last success with this?

About an hour ago.

ufctapout

I've just tested this as well and it works perfectly.

HeatGuy

ufctapout wrote: »

I've just tested this as well and it works perfectly.

Excellent, just applied for my first and says not to apply for any more till this one is approved so just going to wait for this one first.

I'll let you all know how it goes!