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Not sure whats best accounts with 12000
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Skintsaver
Posts: 143 Forumite
Hello in the past I have read some great advice on here and now I'm hoping you can advice me.
Basically I have approx. £12000 and I'm hoping to save £5000 this year. during the last 12 months I've held tsb 5% current account and their 5% regular savings account which I've always have held at the max available, and the rest in a Santander 123 current account, both of these banks have now slashed their interest rates.
I'm wondering how you would save this. obviously I'd like the maximum amount possible but guaranteed the interest rates wont fall for another 12 months where as a lot of the options I'm looking at will fall in January.
I need access to all my money just encase we need something as having a stay at home mum with a little one means I never know when I need to buy something be it a new pram car seat clothes or even a new car! like what had happened during this year. I don't know if this has any affect but my mortgage interest rate is fixed for another 3 years at 3.69%. I wished i'd never fixed as I now know i'd be paying a lot less!
I was thinking of closing my tsb accounts and opening up Nationwide's 5%flex direct and their linked 5% savings accounts. I pay all my bills from Santander 123 account so benefits from the cashback but with the £5 monthly fee this gets cancelled out as I always seem to get between £4-£5 cashback, I'm pretty savvy with what we pay out to sky and gas and leccy. So if I can find an account which pays %2.0 or more on the remaining 10k I'm better off leaving Santander
I'm hoping you can help me!
Basically I have approx. £12000 and I'm hoping to save £5000 this year. during the last 12 months I've held tsb 5% current account and their 5% regular savings account which I've always have held at the max available, and the rest in a Santander 123 current account, both of these banks have now slashed their interest rates.
I'm wondering how you would save this. obviously I'd like the maximum amount possible but guaranteed the interest rates wont fall for another 12 months where as a lot of the options I'm looking at will fall in January.
I need access to all my money just encase we need something as having a stay at home mum with a little one means I never know when I need to buy something be it a new pram car seat clothes or even a new car! like what had happened during this year. I don't know if this has any affect but my mortgage interest rate is fixed for another 3 years at 3.69%. I wished i'd never fixed as I now know i'd be paying a lot less!
I was thinking of closing my tsb accounts and opening up Nationwide's 5%flex direct and their linked 5% savings accounts. I pay all my bills from Santander 123 account so benefits from the cashback but with the £5 monthly fee this gets cancelled out as I always seem to get between £4-£5 cashback, I'm pretty savvy with what we pay out to sky and gas and leccy. So if I can find an account which pays %2.0 or more on the remaining 10k I'm better off leaving Santander
I'm hoping you can help me!
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