The Top Easy Access Savings Discussion Area

socrates

Scroll back it tells you exactly how to allocate around £110k - instant access @ circa 3%

innovate

lyndonp wrote: »

its a personal account I use for my business ;-)

Banks don't like people using personal accounts for business. It's against their T&Cs so you might want to look for a business account.

BillyMorgan009

I've just opened the top paying (2%) ISA with Tesco and have shoved the max allowed straight in. Here's the thing...I think I'd be better off leaving the amount in my 1-2-3 account with Santander which will give me 3% before tax. I will still be better off after tax right??

Stompa

BennyHill83 wrote: »

Here's the thing...I think I'd be better off leaving the amount in my 1-2-3 account with Santander which will give me 3% before tax. I will still be better off after tax right??

If you are a 40% tax payer, then yes.

typistretired

Disregarding cash back, it is 3.% minus tax minus £2 charge.

G_M

typistretired wrote: »

Disregarding cash back, it is 3.% minus tax minus £2 charge.

though arguably as OP already has the 123 account, he is already paying the charge and receiving the cashback anyway. So they can be ignored for these purposes.

The comparison is simply between 2% gross on the ISA Vs 2.4% net (@20% tax) or 1.8% net(@40% tax).

The other relevant factor is the length of time the money will be saved. If beyond next April, if it is not put in an ISA now (or before then) it never can be, so any future ISA benefits will be lost too.

smcg2212

freddysmith wrote: »

Does setting up a Direct Debit to pay off my Barclaycard each month count towards the required 2 DD's ?

Does anyone know if you have to have an amount taken out by the DDs each month to get interest on the account or do they just need to be set up?

I don't want to set this up and then lose the 3% interest each month when I don't use my credit card and the DD doesn't take anything out of my account!

AlTimian

Are there any bank savings accounts out there offering 3% interest instant access or 1 year fixed? Really struggling to find anything decent above about 2% or thereabouts

DragonQ

Santander 123 and Lloyds/TSB/BoS Vantage offer 3%. Can't get near that in an ISA though.

Steve_xx

DragonQ wrote: »

Santander 123 and Lloyds/TSB/BoS Vantage offer 3%. Can't get near that in an ISA though.
Leeds Building Society have an ISA at 3.05% - but you have to stick with it for 5 years!

Link: http://www.leedsbuildingsociety.co.uk/savings/rates-isa-tax-free.html