advice needed on best savings account with not much cash

candycane181106

hi i sell all my old gear thats lieing around the house on ebay.i dont get much back but i have up2 now 160quid.im trying to save money for my kids xmas presents.which savings account wud be the best for me to put this cash in and any i make each month?i want to be able to draw the cash out in december.i know i aint gonna get much interest back so i just need something were i can put it and have access on the net.from jan nxt year i will be saving for xmas better then this yr.i have not long had my second child so cudnt really save much this yr.my brother says sainsburys is a good one but what wud u say?thanks.

McSaver

Sainsburys is a very good choice if you have used up your ISA limit for this tax year. Otherwise your probably looking at an ISA which allows new deposits from £1, and I think Egg allow that at a tax-free 6.05%

shelovestobuystuff

lloyds tsb monthly saver @8% AER.
12 months only then it moves to a lower rate,but you can move it to a better account after the 12 months is up anyway.You set up S.O. from your lloyds current account(you have to have one to get the savings account)£25 to £250 a month,you can alter the amount whenever too.No notice needed to withdraw money.You can boost your savings by depositing a one off lum sum of up to £500 in the fist 7 days too.
I have just opened one this week and have saved up £750 already towards my wedding.
For really short term savings with no tax taken off just use the kids savings account.