Which savings account next?

chris9393

Hi,

By the end of the month I will have filled 2 TSB accounts with the £2000 each at 5%. I've also just switched to First Direct and opened a regular saver at 6% which I am paying £300 a month into.

I'm debating whether to now open a Santander 123 account or would it be better to open at Tesco Account at 3%, fill that and then open a 123 account?

Personally, I think it would be best to open a Tesco account as there is no charge if you deposit £750. Fill it to get maximum interest then open a 123 account after that?

I'd just like your opinions if you recommend anything else

Lungboy

You probably want the Nationwide Flex thinger first, it pays 5% on up to £2500. After that the Lloyds one that pays 4% on up to £5000.

chris9393

Lungboy wrote: »

You probably want the Nationwide Flex thinger first, it pays 5% on up to £2500. After that the Lloyds one that pays 4% on up to £5000.

Sorry I forgot to mention I have just come to an end with my Nationwide account which pays 5% which I believe was only available for the first 12 months. (I used the money from the Nationwide account to help fill the TSB accounts)

Am I able to close the account and reapply? Or is there a time limit you have to wait

Lungboy

You have to wait 12 months I seem to recall.

jimjames

chris9393 wrote: »

Hi,

By the end of the month I will have filled 2 TSB accounts with the £2000 each at 5%. I've also just switched to First Direct and opened a regular saver at 6% which I am paying £300 a month into.

I'm debating whether to now open a Santander 123 account or would it be better to open at Tesco Account at 3%, fill that and then open a 123 account?

Personally, I think it would be best to open a Tesco account as there is no charge if you deposit £750. Fill it to get maximum interest then open a 123 account after that?

I'd just like your opinions if you recommend anything else

Personally I would (and have) open 2 Tesco accounts before Santander. You only get 3% on over £3000 and pay the fees which will reduce the return unless you get sufficient cashback.

chris9393

jimjames wrote: »

Personally I would (and have) open 2 Tesco accounts before Santander. You only get 3% on over £3000 and pay the fees which will reduce the return unless you get sufficient cashback.

Great stuff, il do that then.

Thanks