Large amount savings

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
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jadeblue1991jadeblue1991 Forumite
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edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
Hi I was just wondering what the best bank account/isa/savings account is for me I have 30k and want to leave it there for a year.

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  • jimjamesjimjames Forumite
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    Depends on level of effort you want to put in. You can't use an ISA for it all as the limit is £15k per year and the rate will be worse than outside an ISA if you're not a higher rate taxpayer.

    Easiest for best rate is probably Santander 123 account, Lloyds, Nationwide and TSB. Or just Santander if you want simplest option.
    Remember the saying: if it looks too good to be true it almost certainly is.
  • Although not protected by the compensation scheme, you could check out the peer lenders (Zopa, Ratesetter etc) for anything you can't get into the ISA
  • george4064george4064 Forumite
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    jimjames wrote: »
    Depends on level of effort you want to put in. You can't use an ISA for it all as the limit is £15k per year and the rate will be worse than outside an ISA if you're not a higher rate taxpayer.

    Easiest for best rate is probably Santander 123 account, Lloyds, Nationwide and TSB. Or just Santander if you want simplest option.

    What JJ said, easy option is stick it all in a Santander 123 account.

    Be warned that the monthly account fee is increasing to £5 per month in January 2016.
    "If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes” Warren Buffett

    Save £12k in 2021 - #027 £12,738 (64%)
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