MSE News: Three savings tricks to boost your returns

Savings rates are dismal so you should act now to double, treble or even quadruple the interest you earn...
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Three savings tricks to boost your returns

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  • colstencolsten Forumite
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    MSE Paloma, why no mention of the HSBC switching offer (£120), HSBC Save Together (£120), and the HSBC 6% Regular Saver? Why no mention of the TSB 5% Regular Savings account, and of various 4% Regular Savings accounts?
  • TheTrackerTheTracker Forumite
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    colsten wrote: »
    MSE Paloma, why no mention of the HSBC switching offer (£120), HSBC Save Together (£120), and the HSBC 6% Regular Saver? Why no mention of the TSB 5% Regular Savings account, and of various 4% Regular Savings accounts?

    Cyclic on. Maybe there is no affiliate/referral scheme in place. Cynic off.
  • bowlhead99bowlhead99 Forumite
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    colsten wrote: »
    MSE Paloma, why no mention of
    TheTracker wrote: »
    Cyclic on. Maybe there is no affiliate/referral scheme in place. Cynic off.

    The article is about 'three savings tricks' which you will have to use if you don't want to just get paid some nominal low rate on your savings - you can do much better. Generally these tips are:

    • 1. Taking a long fix with a break clause can be more lucrative than a shorter fix or instant access account. Here's an example of how it works and a [link provided] for more information.
    • 2. Using current accounts you can get higher interest than savings accounts. Here's some examples of three accounts, full info and more in the [link to 'best bank accounts']
    • 3. By putting money into a regular monthly saver you can get higher interest rates (and you can also get paid to switch). Here's some examples, full info in the [link to regular savings]

    This is just what is needed from a 'tips' article. If you try to include all the deals from all the account providers in one article it becomes many many pages long.

    The switching offer and save together offers from HSBC can be found by following the link in (2) above to http://www.moneysavingexpert.com/banking/compare-best-bank-accounts

    The HSBC regular saver account can be found by following the link in (3) to http://www.moneysavingexpert.com/savings/best-regular-savings-accounts which also tells you about the switching offer

    The TSB regular savings deal is presumably not mentioned on the regular savings link because:

    a) there are already 3 deals providing better rates for your £250 a month: 6% (First Direct, HSBC and M&S) and they are all mentioned on the regular saver link that the article points you to.

    b) if you are less bothered about the rate but more bothered about the amount you can save per month, the Lloyds 4% one for £400pm is mentioned on the regular saver link that the article points you to.

    c) If you are less bothered about the rate or the amount but more bothered about whether you have to go and open up a current account with a new bank, the Leeds 3.05% on £250 a month is open to all and is mentioned in the article.

    With all those around I am not surprised the TSB one which offers neither the highest rate nor the largest monthly amount or the easiest access, is not mentioned. However, if you followed their advice to open a current account at TSB, you would find it for yourself when you go to the TSB site.

    No problem, my pleasure.
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