What's the best isa/saving account for me?

phillai

Everytime I get paid (every 4 weeks) I want to deposit £200 in a high isa/savings account... Which is the best one for me?

The main things I would like to consider are a) high interest and b) Good customer service - Ease of use...

Please can anyone recommend me my best option?

I don't mind if it's an online solution (of which I prefer) or a high street bank solution.

Many thanks to all replies in advance!

crana9

you could look at the Abbey fixed rate regular saver.

pays 6.5% interest but only if you can pay in the same amount every month via standing order (I think the amount has to be £20 - £500)

however this sounds pretty good for you as you get £200 every month. only lasts for a year though.

having said that the actual interest difference between that and something like ING direct (5% AER) on the amount you are depositing would be minimal, so you might prefer to go for the less-hassle option.

nationwide flexaccount with e-savings is good too.

Unbelievable_2

Are you a higher rate tax payer? If so then an ISA would probably be best.

Shinds

If you only want to save £200 a month... than I think u'll definately be better off with one of these 'Regular Saver' accounts - Look at Halifax and Abbey.

Otherwise - go for an ISA first... - IF and Abbey offer some good rates at the mo.

dunstonh

Are you a higher rate tax payer? If so then an ISA would probably be best.

for a couple of months maybe but from next tax year that would only allow for 5 months.

A split between a cash ISA and a savings account would be required.

Reaper

for a couple of months maybe but from next tax year that would only allow for 5 months.

I think you are a year out. The ISA limits don't change until 6th April 2006.

dunstonh

I think you are a year out. The ISA limits don't change until 6th April 2006.

Do you know what, i keep dating stuff 2005. I think its because of the tax facts that sits on my desk saying 2005. Think its time to put a sticky note somewhere to remind me its still 2004. When looking at the chart on my office wall it clearly says 2006 for the cash isa changes as you say.

The only change in 2005 is the the withdrawal of the insurance ISA and an increase in the mini equity ISA allowance from £3000 to £4000.

Robert_Sterling_3

Have we got here an IFA who does not even know what year it is?

dunstonh

guilty as charged ::)

System

guilty as charged  ::)

Punishment. 20 pages of compound interest to work out!! ;D