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Savings accounts
oliviarose
Posts: 61 Forumite
Has anyone found a good savings account in the UK, ie with a good interest rate and no fixed terms.?
Olivia Rose
0
Comments
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Yes, but the accounts are actually called current accounts or regular savers. They pay 5-6%oliviarose wrote: »Has anyone found a good savings account in the UK, ie with a good interest rate and no fixed terms.?Remember the saying: if it looks too good to be true it almost certainly is.0 -
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Then the answer to your question is no.oliviarose wrote: »Yeah, I just want a savings account, seems like they all want regular payments going in these days.
Are you starting saving from scratch or do you have an existing lump sum?0 -
This is clearly not the case, or it isn't a problem for people who have savings.oliviarose wrote: »Yeah, I just want a savings account, seems like they all want regular payments going in these days.
If you can provide some numbers (how big a lump sum do you have, how much do you want to add to it and when, how long do you wish to keep the money for), people can help you by pointing you at suitable accounts.0 -
Tesco Current Account might be a good option for your first £3000 if you don't want to set up regular payments or have a linked regular saver. There are no minimum payments or direct debits required so it can be used as a savings account.0
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Why pick one random one of many potential options when we don't know anything about the amounts involved?0
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I get 5% on all my savings. Money moves between accounts, not a regular payment needed.oliviarose wrote: »Yeah, I just want a savings account, seems like they all want regular payments going in these days.Remember the saying: if it looks too good to be true it almost certainly is.0 -
Tesco is hassle free, pays 3% on balance upto £3000, no minimum payment each month and no direct debit. if you have more then £3000 open 2.
If you don't mind abit of hassle moving money around, look at the TSB (min pay in £500 per month, no direct debit) or nationwide (min pay in £1000 per month, no direct debit) they both pay 5% interest if you meet the min pay in, but only on £2000 & £25000 -
There's a list at https://forums.moneysavingexpert.com/discussion/5374614 .
If you don't have the £500 needed for the higher rates, then Tesco's 3% is no hassle, as already mentioned.Eco Miser
Saving money for well over half a century0
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