Best Bank Accounts for ltd Access and interest

83dons

If I were to bank up to 75k or so with only the slim chance of having to ever withdraw anything (and possibly provide notice on that) which accounts offer the best interest to build up the money? Is there a list of accounts to choose from and are they are reputable? I seem to remember from the past that the big high street banks steer clear of this and it was names I had never heard of that were offering these accounts. I also don't want to go down the road of lots of smaller accounts with money paying in and out for a better interest rate but capped at how much on as this is too much hassle.

xylophone

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

eskbanker

I remembered the name from when you posted much the same question last year (https://forums.moneysavingexpert.com/discussion/5849679/best-interest-for-a-lump-sum-with-access) and so the same advice applies - the MSE savings articles summarise the best buys, and it's a trade-off between access and interest, i.e. the more of one you have, the less of the other.

You could perhaps consider splitting the pot into, say, £15K in an easy access account such as Marcus (1.5%) and the rest into a fixed-term account earning more like 2%. The best rates do tend to be offered by less familiar names, but as long as you save with a provider with FSCS protection then your money is safe....

tabbycat2k

I've just tried to post about notice accounts and it says duplicate post! Hey ho. My question was - where has all the notice account info gone from the main site? I have been relying on the recommendations for best rates and have only just noticed, to my horror, that there is NOTHING on the main site (or the forums that I can find) about notice accounts. Help!

eskbanker

Just answered this on your other thread at https://forums.moneysavingexpert.com/discussion/5977392/notice-savings-accounts

Mr.Saver

83dons wrote: »

If I were to bank up to 75k or so with only the slim chance of having to ever withdraw anything (and possibly provide notice on that)

Do you plan to withdraw the entire 75k pot together? E.g.: for a house deposit.
Or do you plan to withdraw from it over a period of time? E.g.: supplement your income in case of being made redundant.

For the former, unless you can give more than a year of notice, you would have to stick with easy access and notice accounts. Otherwise, you could save them into many fixed savings account with different length of time and starting from different months of the year, and earn higher interest than easy access accounts.

Also, if you are not planning to touch a large portion of it in 10 years or longer, you may consider investing rather than saving.

Mr.Saver

tabbycat2k wrote: »

I've just tried to post about notice accounts and it says duplicate post! Hey ho. My question was - where has all the notice account info gone from the main site? I have been relying on the recommendations for best rates and have only just noticed, to my horror, that there is NOTHING on the main site (or the forums that I can find) about notice accounts. Help!

Have you checked the "Top Savings Accounts" https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/ ? Scroll all the way to nearly bottom of that page, or just search "notice savings accounts".