£11,000 to save,Is Santander 1-2-3 the best option

BirnamBear

My take on Martin's article is that this would be best option.Any advice on the best way to save this amount of money to get maximum benefit.
It can go somewhere and not be touched.

mel48rose

BirnamBear wrote: »

My take on Martin's article is that this would be best option.Any advice on the best way to save this amount of money to get maximum benefit.
It can go somewhere and not be touched.

I thought Martin said in his programme last week that this was the best only if you had the max 20K in there.
There maybe something better for you if you only have 11K such as TSB or Nationwide etc

bigfreddiel

Surely this is easy to work out?
you know the interest rates
You know the amounts
You know the t&cs
Simple spreadsheet will give you your answer.

Let us all know what you find out from this bit of research, cheers fj

YorkshireBoy

BirnamBear wrote: »

My take on Martin's article is that this would be best option.Any advice on the best way to save this amount of money to get maximum benefit.
It can go somewhere and not be touched.

https://www.bankaccountsavings.co.uk


It won't be Santander!

Eco_Miser

See all the options here https://forums.moneysavingexpert.com/discussion/5374614

Dan83

£2500 Nationwide 5%
£2000 TSB 5%
£5000 Lloyds 4%
£1500 Tesco 3%

Read the T&C's, transfare some cash around each month and set up some direct debits

colsten

Dan83 wrote: »

transfare

You keep suggesting that, so I have to ask: is that like going to a funfair?

YorkshireBoy

Dan83 wrote: »

£2500 Nationwide 5%
£2000 TSB 5%
£5000 Lloyds 4%
£1500 Tesco 3%

Probably best to ascertain if there are two of them before proposing anything specific. Previous posting history mentions "we".

masonic

colsten wrote: »

You keep suggesting that, so I have to ask: is that like going to a funfair?

It's like a transfer, but with trumpets playing in the background.

YorkshireBoy

colsten wrote: »

You keep suggesting that, so I have to ask: is that like going to a funfair?

...or the cost of travel to a cross-dressing event.

DragonQ

mel48rose wrote: »

I thought Martin said in his programme last week that this was the best only if you had the max 20K in there.
There maybe something better for you if you only have 11K such as TSB or Nationwide etc

That's a pretty simplistic answer and isn't true for me. It's worth it for anything over £3k.

If I had £11k I'd split it between the 5% and 4% current accounts available right now. If I wanted to keep it all in one place, go with Bank of Scotland. Get 3 Vantage accounts, split the money between them, and get 3% without paying a £5/mo fee. There is no scenario in which Santander is best unless you can get more than £5/mo cashback from your bills (unlikely without a Santander mortgage).