Maxed out bank accounts, ISA and regular savers - options?

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chaotic_j
chaotic_j Posts: 453 Forumite
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edited 2 July 2016 at 9:10PM in Savings & investments
Hi,

Having saved for a few years I recently reached the point where I pretty much maxed out all high interest bank accounts and my ISA so I set up as many regular savers as I could.

I'm just wondering what other options are available to me? As the rate on the ISA has recently dropped and the regular savers won't last forever.

My annual salary is £33.2K, already own a property outright bought for £108,000 in 2010 but is now in need of some expensive maintenance. I can save about £1,500 a month.

Looking for short to mid term, was interested in setting up a business or buying more property outright to rent out but would like to move house instead in short to mid term.

Fairly risk averse - is it pretty much just peer to peer lending re: options? are there any accounts below which aren't listed and I'm missing out on?

Bank accounts:

Halifax Reward x 4 - reward of £20 p/m total
Co-Operative Bank - reward of £4 p/m
Barclays Blue Rewards - reward of £4 p/m after £3 fee
Bank of Scotland Vantage x 3 - 3% on £5,000 each
TSB Classic Plus x 2 - 5% on £2,000 each
Lloyds Bank Club Lloyds - 4% on £5,000
Tesco Bank Current Account x 2 - 3% on £3,000 each
Yorkshire Bank Direct - 2% (empty but can hold up to £3,000 will fill soon)
Santander 123 - 3% on £20,000

Monthly savers:

TSB Monthly Saver - 5% £250 p/m have £2,000 in it
Club Lloyds Monthly Saver - 4% £400 p/m have £3,200 in it
Santander Regular eSaver - 5% £200 p/m have £600 in it
HSBC Premier Regular Saver - 6% £250 p/m have £1,750 in it
First Direct Regular Saver - 6% £300 p/m have £1,500 in it

ISA:

Newcastle Building Society Big Home ISA - 1.5% £1 p/m have £29965 in it (max £30,000 so I'm making a withdrawal this month)

I've also got a Santander First HomeSaver Special Issue 1 but that only pays 1.5% now..

Thanks a lot in advance,
chaotic_j
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Comments

  • MrsWenger
    MrsWenger Posts: 361 Forumite
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    Hi, you seem to have the regularly mentioned options with the exception of Nationwide. They also offer a Regular Saver.

    I am answering without being able to check the rates and product names to include them in this reply but they are routinely mentioned within the forum.
  • Ballard
    Ballard Posts: 2,856 Forumite
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    Can you really save £24k per annum on a £33k salary or is there a typo in there somewhere?
    I hate verisimilitude.
  • enjoyyourshoes
    enjoyyourshoes Posts: 1,093 Forumite
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    Hi

    do you have pension with employer? Can you do avc or even set up SIPP if no options there. Tax relief too.
    Debt is a symptom, solve the problem.
  • chelseablue
    chelseablue Posts: 3,303 Forumite
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    Ballard wrote: »
    Can you really save £24k per annum on a £33k salary or is there a typo in there somewhere?

    I thought this too. I earn a similar amount and my take home pay is £1,895
  • fun4everyone
    fun4everyone Posts: 2,340 Forumite
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    Since you are into accounts paying 2% you can get a Bank Of Scotland regular saver that pays 2% - takes £250 per month
  • gt94sss2
    gt94sss2 Posts: 5,673 Forumite
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    M&S Regular Saver ?
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
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    M&S Reg Saver
    LBS Reg Saver

    3 x Tesco? How?

    Joint accounts a possibility with anyone?


    Supplement 1.5% with a few switching incentives? £600+ over 12 months is the same as your 123 account will be paying you.
  • Eco_Miser
    Eco_Miser Posts: 4,708 Forumite
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    Nationwide current & reg saver at 5% are the obvious ones.
    Here's a list of the current accounts and high Reg Savers and of more Regular Savers
    Eco Miser
    Saving money for well over half a century
  • bigfreddiel
    bigfreddiel Posts: 4,263 Forumite
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    How do you get three tesco accounts?

    fj
  • jimjames
    jimjames Posts: 17,676 Forumite
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    Ballard wrote: »
    Can you really save £24k per annum on a £33k salary or is there a typo in there somewhere?

    So much for the average 5% savings ratio! That looks more like 95%! Maybe a partner pays all the bills....
    Remember the saying: if it looks too good to be true it almost certainly is.
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