Some advice please.

Scubajay

Advice is free, and a good thing to use when you know nothing.....a bit like me right now.

Thanks to me getting my life in order, a little E-baying, some overtime and some sensible use of money I am finally in the position of having, for the 1st time in my life, some savings.

Using £2000 from a bank payout (yeah...take that Abbey!!) and money from wages each month I have maxed out my NS&I ISA.

I am now looking at saving between £250 and £350 each month from my wages but no amount of looking at the boards here and at other money sites will get past the fact that I don't know sod all about interest rates or AER etc.

What is a good place for this money to go into to build up a nice little pile for all the goodies in the future? high interest savings account....and if so, which one. There seem to be a million of them out there and the rates change every 5 minutes, so I am constantly waiting for the next best one.

All I need is the most interest, and where I can build up next years ISA amount with no drama.

I am not saving for anything, but have been broke for so long (since I was 16 and started working) that at 36 years old I just want to cater for things like new cars, house deposits, holidays and emergencies without floppy plastic friends causing me trouble.

Thank in advance!!
:j

Steve_xx

You could consider ICICI Bank with an interest rate of 6.3% AER.

Or if you wanted to have a regular saver accoout where you commit to put a fixed amount between £10 - £250 a month into it you could get 12% from Alliance & Leicester. However, you have to open one of their current accounts to link the regular saver account to. This isn't so bad though because with the current account you get free European travel insurance too.

See here:

https://www.icicibank.co.uk/hisave.html

http://www.alliance-leicester.co.uk/savings/index.asp?page=prs3&ct=savingshome

Scubajay

Cheers for the tip. I opened one of the A&L accounts, and it is the sort of thing I like because I can't take the money out - it means that my ISA funds for next year are sorted!!

It is all part of my master 5 year savings plan.

Live well, save hard, reap the rewards!!:beer: