A mix of current and quick access savings accounts - is there anything better for my situation?

Cmdr_Bond

Ok, this is my current outlook:

Going with Marcus - the simple savings account would net £283.50.


The Santander 123 has a monthly fee (which should be more than negated by the direct debit cashback), and a throughput requirement (also negated by DDs)

This account, on its own, would net £300


Adding in Nationwide and TSB, both having throughput requirements that can be easily met nets £410


Drip feeding the Santander 123 into a Santander Regular eSaver, a Club Lloyds Monthly Saver and a Coventry Building Society Regular Saver brings the interest up to £496.50.

So an initial outlay of 2500 in Nationwide, 1500 in TSB, plus 1100 split across the 3 savers leaves 15900 to go on the Santander 123.

1100/month is then drop feed into the 3 savers.

I've ignored First Direct and HSBC as to get the benefit I would have to open 2 accounts with each (current and savings), for an extra 0.25%

I already have a basic Santander account which can be upgraded to 123, I already have a Club Lloyds account.

I think I'm at peak savings over effort for instant access

pip895

I also use HL Active savings. I have set up, or rather helped her set up, a savings ladder in my student daughters account with some inheritance money. She has some in the Coventry Instant access at 1.2% but also fixed term accounts to feed into her LISA
£4k in the United trust bank 3 month fix at 1.41%
£4k in BLME 12 month fix at 1.9%
£4k in Aldemore 2 year fix at 1.85%
£4k in Aldemore 3 year fix at 1.9%

It was really easy to do - so much easier than messing around with different institutions with different logins and passwords etc.

Cmdr_Bond

What is HL?

ColdIron

Hargreaves Lansdown, an investment platform that also provides access to savings accounts from some other providers

https://www.hl.co.uk/investment-services/active-savings

ColdIron

colsten wrote: »

My rationale for keeping the full-fat one is that a couple of mishaps could quickly cost me more than the £48 a year I would save by downgrading to Lite

An arranged overdraft, which is easy to set up, went some way to solving that problem for me

Breeches_Bouy

What about Co-op Bank Brittannia account paying 1.30 easy access especially if you dont do online banking

Cmdr_Bond

Thanks, but 1.3% is lower than all the others (barring my original Club Lloyds) - and I do want online banking.

Cmdr_Bond

pip895 wrote: »

I also use HL Active savings. I have set up, or rather helped her set up, a savings ladder in my student daughters account with some inheritance money. She has some in the Coventry Instant access at 1.2% but also fixed term accounts to feed into her LISA
£4k in the United trust bank 3 month fix at 1.41%
£4k in BLME 12 month fix at 1.9%
£4k in Aldemore 2 year fix at 1.85%
£4k in Aldemore 3 year fix at 1.9%

It was really easy to do - so much easier than messing around with different institutions with different logins and passwords etc.

Thanks, unfortunately fixing isn't the way for me right now, otherwise I would consider this.