Advice about savings

ligh123

Hello

I have around £8000 in a premium bonds account. I was planning on putting this all in a help to buy isa but I have just realised that there is a cap on the initial deposit. So I would like to maximise the remaining savings if I could.

The plan is to use them for a house deposit so I can't really lock them away in a fixed rate. Does anyone have any tips on what I could do to get the best interest on these or anything else I can do?

Any advice would be very much appreciated.

eskbanker

As well as an HTB ISA, open some high-interest current accounts and regular savers to get 4-6% (taxable) on the rest, further details at https://forums.moneysavingexpert.com/discussion/5374614

xylophone

You might consider HTB with Halifax - £1000 a month and £200 a month by SO thereafter.

You might open a TSB plus (regular saver also available) and a Nationwide Flexdirect (regular saver also available) and a couple of Tesco current accounts.

Remember to read T&Cs very carefully so that you manage the pay in cycle round etc correctly.

ligh123

Great thank you, is there a limit to how many current accounts I can have?

jimjames

ligh123 wrote: »

Great thank you, is there a limit to how many current accounts I can have?

Nope. Some people here have well in excess of 20

Eco_Miser

ligh123 wrote: »

Great thank you, is there a limit to how many current accounts I can have?

However many the banks will let you have. Currently, that's one sole, and one joint (so 3 between 2) at each of TSB, Nationwide, Lloyds, 2 sole at Tesco, 3 sole at BOS. The banks don't have to give you that many, or any, and there are reports that BOS is getting picky. Always check the T&Cs yourself, they may have changed, or I could just be wrong.

ligh123

Thanks for the great help