Savings advice

gerrard88

Hi i am saving around 400-500 a month.. currently have 1k.

What is the best savings for interest?

ISA or normal savings?

I am with santander for my bank account

thanks

xylophone

You have a regular monthly saver with Santander?

You might consider a Flexdirect current account with Nationwide if eligible and if you have not had one before - cycle in £1000 a month from your Santander- leave in what you can afford until £2500 reached - open Flexclusive monthly saver after that.

Continue to cycle in/out the £1000 a month to the current account.

badger09

gerrard88 wrote: »

Hi i am saving around 400-500 a month.. currently have 1k.

What is the best savings for interest?

ISA or normal savings?

I am with santander for my bank account

thanks

Have you read this?

https://www.moneysavingexpert.com/savings/which-saving-account

tibbles209

What are you saving for? When will you need to use the money?
Are you a basic or higher rate taxpayer?
Is the £1k the only cash savings you have at the moment?

gerrard88

No i currently dont have a saving account with santander. Just a current account

I have an instant isa with nationwide

I dont want to put into a saver anymore than £500 a month


I just want to have the best saving account for me for what i want

ValiantSon

You'll get the best rates using regular savers. The highest paying ones are linked to current accounts, but you can open more than one current account so that isn't necessarily a problem. Look at this page: https://www.moneysavingexpert.com/savings/best-regular-savings-accounts

YorkshireBoy

gerrard88 wrote: »

No i currently dont have a saving account with santander. Just a current account

I have an instant isa with nationwide

I dont want to put into a saver anymore than £500 a month


I just want to have the best saving account for me for what i want

For the next 12 months you won't be able to beat the Nationwide products given in post #2. I've assumed you don't qualify for the 5% regular saver at Santander. If you do, even better.