Postal Accounts?

chelseablue

Can any one recommend a good postal account?

Me and the OH are currently saving for a house deposit and have nearly £30K saved.

I understand that if a bank goes bust you are only guaranteed the first £32K (or something like that!) so would like to open another account so we dont have all our eggs in one basket.

OH says NO to online based accounts (gave up trying to change his mind) so was thinking of a postal account as Im fed up of queing in Abbey!

So, are postal accounts ok? Which is a good one?

Looking for the best interest rate I can get and Id be prepared to give up to 30 days notice

Thanks for any help

Old_Slaphead

Have a look at Leeds new Postal account paying fixed 6.60% gross until next Summer - min £5000

woody_56

Chelsea 6.40 Coming Soon-suites Your Id---possible Wind Fall On This One????

Old_Slaphead

woody_56 wrote: »

Chelsea 6.40 Coming Soon-suites Your Id---possible Wind Fall On This One????

More or less the same chance as with any other BS.

Leeds offers a better interest rate.

johnydeath

Does it have to be a postal account?

If you can afford to wait 6 months without access, Standard Life are doing a fixed term bond for 6 months at 7% with a max of £50k that can be invested. Its a phone account with the option of internet access if needed.

If you take the monthly interest option it reduces to 6.75%, otherwise you get the interest paid at the 6 month point into a.n.other account. You then have the option of closing and transfering your bulk sum or putting it in an alternative Standard Life account.

With the Stroud 7.05% offer now reduced to under 7% this might be the best short term fixed rate (until the next offer)

johnydeath

Just noticed on a different thread that the 7% for 6 months Standard Life bond closed at about 16:10 yesterday. They have a new one on the same conditions but at 6.75%