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New saver advice!

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  • Reading this thread I'm now debating opening one (or more) of these TSB Classic Plus accounts but I'm just trying to get my head round something.

    The only reason to have this would be to just have £1500 of your savings earning 5% interest (which you can then cream off and put elsewhere) and thats it. Any other savings you have over £1,500 would need to be held elsewhere.

    Am I right?

    Essentially! I only had a little over the £1500 to save, but 5% is not on offer in many places, you may as well have some getting that rate as none.
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