Where do you 'put' your emergency fund?

jimjames

Rowbo wrote: »

I've seen current accounts where you can get good rates but it would involve splitting it up and drip feeding it in. It would have to be well worth all that hassle to do that.

Most current accounts don't require you to drip feed in. 4 Tesco accounts would give you 3% on the whole balance.

That's £360 per year compared to £61 you get now. Use 5% accounts for some of it and you'll increase it even more

aroominyork

Zorillo wrote: »

Mine is with NS&I earning 2.2% on a three year deal, with access should I need it at a loss of 90 days interest on the amount withdrawn. This helps to prevent it being frittered away.

I like this. If it's truly emergency only but needs to be accessible this is a very elegant solution.

Katiehound

If there are two of you , you might consider switching a current account to Nationwide FlexDirect with the' refer a friend scheme'. £100 each for yourself and the referrer (see referrer's board) You need to check the t&cs for a switch. If that's what you want to do open an extra basic 'donor' account to switch. You can then repeat the process between spouses.So, not only 5% interest but a little cash boost too....

For Tesco current a/cs now I think you need 2 or even 3 DDs