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Best place to save £600?
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Legacy_user
Posts: 0 Newbie
Its been so long since ive been able to save ive lost track on what is the best interest rate and where to get them.
Within a day or two i will have £600 sitting in my bank account gaining no interest. I want to move it to an account where it will gain some interest.
I dont want to gamble with it. I dont want to draw on it at all unless i have to (sort of major catastrophe crisis). I just want to put it in and leave it there.
Any help would be appreciated.
Within a day or two i will have £600 sitting in my bank account gaining no interest. I want to move it to an account where it will gain some interest.
I dont want to gamble with it. I dont want to draw on it at all unless i have to (sort of major catastrophe crisis). I just want to put it in and leave it there.
Any help would be appreciated.
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There are lots of posts on this forum about the best bank accounts but for £600 why wouldn't you just leave it in your current account?I am an Independent Financial Adviser (IFA). Any posts on here are for information and discussion purposes only and should not be seen as financial advice.0
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Open a TSB Classic plus current account paying 5% and place it there in my opinion.0
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Nothing sinister... just that it gains no interest.There are lots of posts on this forum about the best bank accounts but for £600 why wouldn't you just leave it in your current account?This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
It might be time to move to a current account that pays interest.Within a day or two i will have £600 sitting in my bank account gaining no interest. I want to move it to an account where it will gain some interest.
Lots of accounts listed here.Eco Miser
Saving money for well over half a century0 -
Switch to current account paying interest or just open a new one. TSB is a good one as mentioned above for up to £2k.I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
The 365 Day 1p Challenge 2025 #1 £667.95/£162.90
Save £12k in 2025 #1 £12000/£70000 -
Switch to current account paying interest or just open a new one. TSB is a good one as mentioned above for up to £2k.
Remember to go paperless and that you must deposit at least £500 a month - this can be in and out again.0 -
Hi Judi - Have you ever thought about Premium Bonds? There are loads of chances to win and your money is 100% safe? Try NSandI.
Hope it helps0 -
Tesco pays 3% on up to £3k with no monthly pay in0
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Another vote for TSB account, pays 5% on balances up to £2k. Hurry though, I think this rate will drop at the end of the year.0
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raldisplay wrote: »Hi Judi - Have you ever thought about Premium Bonds? There are loads of chances to win and your money is 100% safe? Try NSandI.
Hope it helps
I mostly do that, as whenever I have extra money that I don’t want to risk, I go with Bonds, as that’s secure yet always have genuine opportunity to gain something or at worst, we can’t lose anything at all like said by him.0
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