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Easy access best saving for large savings amount?
mike_sedge
Posts: 12 Forumite
Good morning
We have a £100k + amount for a house deposit currently sat in a low interest savings account. Where would people recommend this be saved to gain the best interest over a 6 month period (we will have likely moved in 6months so will have to use the money for the house)
I have provisionally looked at NS&I bonds and accounts which look like a good option.
Thanks
We have a £100k + amount for a house deposit currently sat in a low interest savings account. Where would people recommend this be saved to gain the best interest over a 6 month period (we will have likely moved in 6months so will have to use the money for the house)
I have provisionally looked at NS&I bonds and accounts which look like a good option.
Thanks
0
Comments
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There's a million other posts all asking virtually the same question. Have a little trawl or use the Search function.0
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Did you not see the Virgin Defined Access account listed when you clicked on any of the 'top savings accounts' links on this page? It pays 1.41% AER and, from personal experience, is opened very quickly.0
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YorkshireBoy wrote: »Did you not see the Virgin Defined Access account listed when you clicked on any of the 'top savings accounts' links on this page? It pays 1.41% AER and, from personal experience, is opened very quickly.
Thanks for this - I did see it but its only protected up to £75k. NS and I bond pays 1.5ish so think i'll be going for that
Plus i'll need to access the money and there is a limit to 3 withdrawals which may not work with what we are planning to do0 -
You started the thread with "we have...", so that's £75K each isn't it?mike_sedge wrote: »Thanks for this - I did see it but its only protected up to £75k.
But if a very vague "£100K+" means £151K then I agree it's no good...unless you're a gambler!0 -
YorkshireBoy wrote: »You started the thread with "we have...", so that's £75K each isn't it?
But if a very vague "£100K+" means £151K then I agree it's no good...unless you're a gambler!
It's more limit on 3 withdrawals that's the problem with that account0 -
I haven't looked at the Virgin account mentioned, but why not open 1 each?
That would allow 6 withdrawals, and after 6 withdrawals any reduction in interest rate wouldn't matter too much on the remaining reduced balance?0
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