Where is best for my savings.

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I have £12k in a HSBC online bonus saver account. I have just opened a Halifax Help to Buy ISA, and put in £1000 and set up my direct debit. I want to move £10k into something with a better inrerest rate. I dont want to tie my money up for a long time, but i am confused about where to put it. I usually save £300 a month so with my ISA I will have £100 to put away every month. I still live at home. Any advice please.

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  • colsten
    colsten Posts: 17,597 Forumite
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    Current accounts and Regular Savings accounts http://forums.moneysavingexpert.com/showthread.php?t=5374614
  • Cisco001
    Cisco001 Posts: 4,025 Forumite
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    Since you are still living at home, I assume you don't have many direct debit?
    I would say you could consider

    TSB (£500 in per month). 5% interest up to £2k.(plus regular saving)
    Lloyds (£1500 in per month, 2 direct debit). 4% interest for £4 - 5k (plus regular saving)
    RBS (£1000 in per month) 3% interest £3 - 5k
    Tesco 3% interest up to £3k

    then you move the money around once a month.
  • Archi_Bald
    Archi_Bald Posts: 9,681 Forumite
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    Any number of DDs are easy enough to get.

    When you say RBS, you mean BoS. Two totally different banks. RBS have no useful accounts for savers.
  • BananaRepublic
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    How long is not a long time? And what are your future plans for the money?

    If you can stash some or all of it for five years then a stocks and shares ISA is a good bet. The markets are wobbly which is good. Otherwise fixed term bonds or a cash isa. Bonds are taxed unless you can get them in an isa, not sure. I've invested for 20 years with success.
  • colsten
    colsten Posts: 17,597 Forumite
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    Otherwise fixed term bonds or a cash isa.
    Can you explain why you would go for these when you can get double or more interest elsewhere?
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