fixed savings where to go

Micky_d

Hi, I have been using MSE for over 10 years now to not only clear the debts my ex wife left me but also to try and save. I now have a sum I would like to put into a savings account to try and get the most interest that I can.



The best suggestions (as per MSE) is the post office three year but also Atom bank which pays even more over three years if you leave your money untouched. I have never used atom bank before and wanted to know if anyone could offer recommendations as to whether they are safe, have good customer service (albeit online only) and would recommend them.


I dont mind locking this money away for 3 years and would like 2% return for doing so but I need to know tha capital is safe. Im sure there are some wise people out there who can advise.


I am also looking for the best savings account (%) where I can open with £5K but then deposit £200 a month to add to it (without moving my current account), not sure which would be the best

xylophone

Have you ever had a Nationwide Flexdirect current account?

If not, you could open one with £2500 and earn 5% for a year.

There is also a Regular Saver which will pay 5% on £250 a month.

You might also open a TSB Classic Plus account with £1500 and earn interest of 5%.

You could set up a same day SO mid month for £1000 from NW to TSB and from TSB to NW to satisfy the paying in requirements for both.

For the balance of the money and to hold the monthly interest from NW and TSB you might open the best savings account you can find.

https://www.thisismoney.co.uk/money/article-1583859/Best-savings-rates-General-savings-Internet-branch.html

eskbanker

Micky_d wrote: »

The best suggestions (as per MSE) is the post office three year but also Atom bank which pays even more over three years if you leave your money untouched. I have never used atom bank before and wanted to know if anyone could offer recommendations as to whether they are safe, have good customer service (albeit online only) and would recommend them.


I dont mind locking this money away for 3 years and would like 2% return for doing so but I need to know tha capital is safe. Im sure there are some wise people out there who can advise.

Not sure where you're looking but if you're after a three-year fix then the best buys at https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/#threeyearfixed aren't Atom or PO. If it's safety you're concerned about then look at the right hand column of that table, which shows that each of the best buys has FSCS protection, which is the standard measure of 'safety', as explained at https://www.moneysavingexpert.com/savings/safe-savings/

Perceptions of customer service are heavily subjective and, I'd argue, largely irrelevant in the context of an account you'd fund and then ignore for three years!

EachPenny

Micky_d wrote: »

I dont mind locking this money away for 3 years and would like 2% return for doing so but I need to know tha capital is safe. Im sure there are some wise people out there who can advise.

Ford Money have been offering 2% on a 1 year fix and 2.2% on a 2 year fix, but have pulled those offers in the last 24 hours it appears. (their site says "Not currently on sale").

They have full FSCS protection and have given reasonably good levels of customer service.

Unless you are in hurry it might be worth giving it a few days to see if Ford come back with the same (or better) rates.