Savings

RobbyM

Hi,

I have about 15K in a Santander ISA. Is it worth moving that money to another bank account or putting some in regular savings account for higher interest? I would like access to most of it so that it's not fixed away. I was considering a ns&i savings account. Any recommendations - I am now confused from reading the different options online.

Thanks,

cattie

How much interest is your isa earning in the isa?  If you feel you can do better with ns&i then they are offering one of the best rates around at the moment for easy access- 1.16%. The only other way you might get more is to go for a fixed rate but money needs to be tied up for a mininum term for those accounts.

RobbyM

cattie said:

How much interest is your isa earning in the isa?  If you feel you can do better with ns&i then they are offering one of the best rates around at the moment for easy access- 1.16%. The only other way you might get more is to go for a fixed rate but money needs to be tied up for a mininum term for those accounts.

Thanks Cattie. The interest rate for the current isa is 0.40%. Would you recommend any good accounts for fixed rates higher than that of ns&i? There seems to be so many options.

Archi_Bald

If you want to be able to withdraw, you won‘t get fixed rates. You can easily get more than 0.4% variable, in many places.

Albermarle

https://moneyfacts.co.uk/
A typical fixed rate/term savings account gives you a window of 14 days after opening it to deposit funds . After that you can not add more and if you withdraw before the end of the term, you will probably lose most of the interest.
There are notice accounts that give a bit more flexibility.
Or Premium Bonds .

bogleboogle

NS&I offer an easy access savers account for 1% AER (variable) which is a safe bet.

A low risk S&S ISA with a strong bond weighting might be another option (e.g. VLS40), but obviously that depends on your appetite for risk, investing time-horizon and ability to sustain capital losses (psychologically and financially).