Help with interest on capital

rugger68

At present I bank with First Direct, I am looking to move some money to an account to earn me some interest does anyone have any suggestions.

binaryuniverse

What sort of amount are you looking to shift?

First Direct offer a regular saver, with 5% interest. You can put up to £300 a month in to it. If you have a lump sum, look to open a interest paying current account, then move £300 to the regular saver.

Top interest paying accounts are:
Nationwide Flexdirect. 5% on up to £2500 for 12 months. No direct debits needed. Just pay in £1000 a month.

Tesco. 3% up to £3000. And you an open 2 accounts. Each account needs 3 direct debits to pay out each month, and £750 paid in.

TSB. 3% on up to £1500. Must pay in £500 a month, opt for paperless banking, and log in to banking at least once a month.

Zanderman

Read through the MSE guide at https://www.moneysavingexpert.com/savings/savings-accounts-best-interest

Kim_13

You might also find the MSE guide to regular savings accounts of interest, as they offer comparable rates of interest to the current accounts, albeit on small amounts of money: https://www.moneysavingexpert.com/savings/best-regular-savings-accounts.

Depending on the sum involved, dripping the remaining amount into such accounts may be the only way to beat the rates offered by standard savings accounts.

Are you looking to buy a first home at all? It's worth looking at Help to Buy or Lifetime ISA's in this case, due to the 25% government bonus.