Easy access savings account

[Deleted User]

Hi,

I hope you lovely knowledgeable lot can help?

I am looking at possibly opening up a savings account so that I can build it up as an emergency fund, but I want to be able to be able to withdraw from easily but has a decent enough interest rate, ideally able to open online but not essential.

Any ideas?

Thanks

Pmo2

AnotherJoe

Marcus? 1.5% currently. Instant access.

Reaper

You could look at MSE:
https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/

[Deleted User]

Reaper wrote: »

You could look at MSE:
https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/

Hi,

Yep I did that, just wondered if there were any that other people on here use that weren't quoted by MSE

[Deleted User]

AnotherJoe wrote: »

Marcus? 1.5% currently. Instant access.

That one is on my list to look at, are they any good?

Flobberchops

If you're not a home owner, AND not currently subscribing to a cash ISA, AND not using all of your annual ISA subscription limit, AND putting aside no more than £200 a month... then you could use a Help to Buy ISA as a savings account. Deposits are capped, withdrawals are not. The market leader is currently paying 2.58%.

[Deleted User]

Flobberchops wrote: »

If you're not a home owner, AND not currently subscribing to a cash ISA, AND not using all of your annual ISA subscription limit, AND putting aside no more than £200 a month... then you could use a Help to Buy ISA as a savings account. Deposits are capped, withdrawals are not. The market leader is currently paying 2.58%.

Thanks but I am a home owner, so that wouldn't work.

RG2015

Deleted_User wrote: »

Hi,

I hope you lovely knowledgeable lot can help?

I am looking at possibly opening up a savings account so that I can build it up as an emergency fund, but I want to be able to be able to withdraw from easily but has a decent enough interest rate, ideally able to open online but not essential.

Any ideas?

Thanks

Pmo2

If you are building up an emergency fund you should look at the regular savers. First Direct offers 5% for up to £300 per month for 12 months.

You then will have £3,697 which you could then put into Marcus or similar. You could then start a new regular saver with First Direct which could be funded from the Marcus account.

PS: Apologies, this is not an easy access account. However some of the regular savers may have easy access but at a lower rate.

PS2: Santander offer 3% for £200 per month and this is easy access.

AnotherJoe

Deleted_User wrote: »

That one is on my list to look at, are they any good?

Very easy to use, very simple, you nominate one bank account which is the one you pay into from and which receives any withdrawals. That is the only one you can use. So it isn't an account for general use just for savings. Any payments into your Marcus account from elsewhere are automatically returned back to where they came from.

badger09

RG2015 wrote: »

If you are building up an emergency fund you should look at the regular savers. First Direct offers 5% for up to £300 per month for 12 months.

You then will have £3,697 which you could then put into Marcus or similar. You could then start a new regular saver with First Direct which could be funded from the Marcus account.

PS: Apologies, this is not an easy access account. However some of the regular savers may have easy access but at a lower rate.

PS2: Santander offer 3% for £200 per month and this is easy access.

But both the First Direct and Santander 123 regular savers, along with HSBC and M&S, also require you to have a current account.

Reed_Richards

Re Marcus:

AnotherJoe wrote: »

Very easy to use, very simple...

And also very quick, transfers to/from typically take less that one hour in my experience. This is much better than some other savings accounts.