Where to put my £8000

Pincher

colsten wrote: »

It would be pretty crazy not to exploit the higher interest rates just because you have lots of funds.

We now know YOU can be bothered. I think four is my limit on bothered.

colsten wrote: »

Nationwide pays 2% for their RS. There are many others that pay better.

Damn, I was going to get another FlexDirect and do a Nationwide Regular Saver (when I can be bothered ) and when the Regular Saver fits into the three month cycle. I just assumed it would all still be there. Nationwide probably thinks the FlexDirect is teaser enough. I could do a Halifax, since I have some old accounts hanging around.

darkidoe

I currently have 4 regular savers running as well. FirstDirect，HSBC, TSB and Lloyds. Hmmm thinking of M&S or Nationwide next i guess.

colsten

darkidoe wrote: »

Hmmm thinking of M&S or Nationwide next i guess.

That seems a rather odd choice for Regular Savers as they are at opposite ends of the interest rate spectrum, with many others in between. In addition, there are current accounts that pay better interest than the Nationwide monthly savings account.

Unless you mean the Nationwide FlexDirect current account?

darkidoe

Oh yes the FlexDirect. I was thinking in terms of which bank to open another account with. i kind of like the idea of regular savers where it forces you to save each month, locking the money in for the interest but unfortunately you get less interest than when u put it a fixed sum in for the whole year. oh well anything to maximise the percentages eh?

Eco_Miser

darkidoe wrote: »

unfortunately you get less interest than when u put it a fixed sum in for the whole year.

That's true if you've actually got the fixed sum and can find an account paying the same rate of interest as the RS - but you could put the sum in say a 3% account and drip feed it into the RS, so on average you get 3% on half the money and 6% on half the money.

colsten

discover drip feeding............