Lump sum easy access

Benben52

I have just completed an Equity Release deal* which will payout a lump sum of around £12k.  This will be used to supplement my pension income and I'm hoping it will last around nine months to a year before I need to draw down the next tranche.   This is on top of clearing a mortgage and two credit deals.   The intention is to try to pay off at least some of the interest, which is very low at 2.7% (but will change when I request the next tranche).

I bank online at Natwest - a personal current account and a couple of expired savings accounts which pay .01% interest.  I've had a look online and can't see that there's any option to improve that by staying with them.  

I'm slightly nervous of moving my entire banking away (laziness really - I know how the system works) and whatever I do would need to function as a full service account with easy access.   So I'm interested in hearing views about the best way to stash a largeish but diminishing lump sum with at least short notice access to funds (if not instant online access), but which will be topped up when funds get low.  I am anticipating that the current arrangement will see me through to my early 80s.  

*Done through Stepchange, which I highly recommend.  

eskbanker

Benben52 said:

I'm slightly nervous of moving my entire banking away (laziness really - I know how the system works)

You wouldn't need to move your entire banking away - it would be perfectly straightforward to leave your current account where it is and open a savings account with another institution, leading options being listed at https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/

NS&I is well ahead of the pack at the moment on interest rates but some unhappiness with their service has been reported on the savings board....