Regular Savings Accounts: The Best Currently Available List!

charlysez

For the first time I have some cash to save. I have opened my ISA and I use a Santander 123 current account which I would like to keep.
I have read the thread, checked out several BS rates and am disappointingly stuck.
I would love 6% but dont want to move my current account, I like the idea of drip feeding but in to where? Some posts say that 2% is rubbish, so where are the higher rates? I can do a lump sum and top it up monthly, I am quite flexible just cant find what I think I want.
Please help, if this isnt too big a question.

saintalan

Keep your Santander a/c earning 3% and if necessary open other current accounts like TSB/Nationwide etc and cycle your money around, also a FIrst Direct will allow access to a Regular saver (currently 6%).

Basically moving your money around is the only way to go if you want anywhere close to 6%, of course depending how much you are talking about.

Alan

Archi_Bald

The monthly max for the Newcastle Building Society Big Home Saver has been raised to £1,250 (and the same for its ISA incarnation).

The website hasn't been updated yet but they are now taking £1,250 and you can make top up payments if you already made a deposit in April.

Bit of a lifeline perhaps for the Lloyds Vantage victims......

EDIT April 15: website now updated to say £1,250 max per month.

socrates

Archi_Bald wrote: »

The monthly max for the Newcastle Building Society Big Home Saver has been raised to £1,250 (and the same for its ISA incarnation).

The website hasn't been updated yet but they are now taking £1,250 and you can make top up payments if you already made a deposit in April.

Bit of a lifeline perhaps for the Lloyds Vantage victims......

I wonder if it is connected to the fact that their 5% - 5 year bonds come to an end in the next few months and there will be a mass exodus of cash flowing out

Special_Saver2

Hi Folks,

I have added the information from Archi Bald's post on the Newcastle Big Home Saver to the relevant posts on the first page of this thread.

I cannot see anything else that has changed for this weekend's update. I will do another update next weekend.

SS2

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For those new to this thread, the first few posts are constantly updated and are here: http://forums.moneysavingexpert.com/...=608697&page=1

charlysez

saintalan wrote: »

Keep your Santander a/c earning 3% and if necessary open other current accounts like TSB/Nationwide etc and cycle your money around, also a FIrst Direct will allow access to a Regular saver (currently 6%).

Basically moving your money around is the only way to go if you want anywhere close to 6%, of course depending how much you are talking about.

Alan

Thanks for that, found the 6% account with First Direct, I am looking to save min £400 per month, I have maxed the 123 so anything over needs to go somewhere else. Might be FD now.

innovate

FD only takes £300 a month. Alternatives are TSB Plus and Club Lloyds

charlysez

I am a bit confused now, these accounts FD, TSB etc require a large monthly deposit, presumably a salary, before you get the interest on the savings. My 123 takes my salary/household dd's so how can I open other current accounts to take advantage of the rates?

ColdIron

charlysez wrote: »

I am a bit confused now, these accounts FD, TSB etc require a large monthly deposit, presumably a salary, before you get the interest on the savings. My 123 takes my salary/household dd's so how can I open other current accounts to take advantage of the rates?

Have a read of the other threads on this and the banking and budgeting forums, this is explained about a gazillion times

innovate

charlysez wrote: »

presumably a salary?

Why presumably salary? Which account have you seen that mandates any salary? Why can you not make your own deposits?