The Top Easy Access Savings Discussion Area

SephirothX

innovate wrote: »

You can still get 6% in one Regular Saver. 5% in one current account, 3% in several current accounts. Many people have more savings than the 5 and 6% accounts can accommodate. Some are even maxing all the 3% ones as well.

I guess I need to research and find out what the limits are on these 5-6% ones. But I reckon I may max out on them and it's a faff having like 3 or 4 different saving accounts.

candy8234

I am looking for the best account to put about £50000 in short term, probably no more than about 6 months, before it is spent on property. Can anyone advise please?

Steve_xx

candy8234 wrote: »

I am looking for the best account to put about £50000 in short term, probably no more than about 6 months, before it is spent on property. Can anyone advise please?

The best you will get is 3%.

You could open two Santander 123 current accounts and stash 20k in each of them. But you would need to have two direct debits on each of these accounts. And, you would have to cycle 1k through each of the accounts each month from outside of Santander. also note that each month means from the date you opened the account and not the 1st of the month

For the remaining 10k you could open two LloydsTSB current accounts with Vantage added, keeping 5k in each. And, you would have to cycle 1k through each of the accounts each month but unlike with Santander you can cycle this money from one LloydsTSB account to the other and back again. Note that no matter on what date you open the LLoyds accounts that the monthly cycle starts on the 1st of the month.

I-LOV-MONEY

^^^^^^^
There is always Nationwide's FlexDirect where you can get 5% on £2500. You have to move £1000 into the account each month, but you can simply withdraw it to another account and send it back again!

Archi_Bald

3 x Lloyds Vantage - £15K
3 x BoS Vantage - £15K
3 x TSB Enhance - £15K
3 x FlexDirect - £5k plus interst overflow from other accounts (and hope you get 5% on all 3)

£50K done without any DDs.

Alternative:
2 x Santander 123 - £40K, with 2 DDs each
2 x Lloyds or BoS or TSB, £10K
1 x FlexDirect

Easy peasy, just need to spend 10 minutes browsing the forum to figure this out.

EDIT: other combinations are of course possible.

ric777

Hi, I have had a Lloyds TSB Vantage account for some time and they invite me to open a second one. But the screen wants me to, inter alia, confirm that I do not hold a Lloyds current account already, otherwise I will need to go into a branch. Do you know a way round this to just do it on line and still include it with my usual login to them?

Thanks

typistretired

I have three with them but have opened so many current accounts over the past months I can't remember if I opened some of them by telephone.

Give them a ring on 0800 015 4000

Lines are open Monday-Friday 8am-10pm

Saturday and Sunday 8am-6pm.

typistretired

ric777 wrote: »

Do you know a way round this to just do it on line and still include it with my usual login to them?
Thanks

Whatever way you apply it will still be linked to your existing accounts. I have applied for additional accounts with other banks not logged into my account and when opened it has appeared in my account.

AmberGambler

I have £250k in a Lloyds TSB savings account, on which the interest rate is currently 0.1%. I would like a better rate.

Lloyds will give me 1% if I open a new account, with instant access.

My requirements for my new account (I'm not bothered about deposit protection limit) is unlimited withdrawals with online banking and instant transfer to my Lloyds account.

I could potentially open two accounts, but I'm likely to need access to at least £100k at some (as yet unknown) point in time, as I'm a professional gambler and if I can't get my money instantly it could cost me a lot of money, certainly far more than the paltry £1-£2k you could earn in interest on £100k in a year.

So I could do two accounts, each with £125k, one that I won't touch, and the other that I will access all the time.

Steve_xx

AmberGambler wrote: »

I have £250k in a Lloyds TSB savings account, on which the interest rate is currently 0.1%. I would like a better rate.

Lloyds will give me 1% if I open a new account, with instant access.

My requirements for my new account (I'm not bothered about deposit protection limit) is unlimited withdrawals with online banking and instant transfer to my Lloyds account.

I could potentially open two accounts, but I'm likely to need access to at least £100k at some (as yet unknown) point in time, as I'm a professional gambler and if I can't get my money instantly it could cost me a lot of money, certainly far more than the paltry £1-£2k you could earn in interest on £100k in a year.

So I could do two accounts, each with £125k, one that I won't touch, and the other that I will access all the time.

You need to open two Santander 123 current accounts and stash 20k in each.

Then 3 LloydsTSB current accounts with Vantage added and stash 5k in each of them.

Then open 3 TSB current accounts with Enhance added and stash 5k in each of those.

You can earn 3% on all of the above accounts and you can access your cash at anytime without penalty.

You need to do your homework for the remainder, but will find it hard to attain more than 2% at the moment.

You should be bothered about the protection limits given the current, possibly understated poor state of the world banking system!