Savings
kazzy65
Posts: 1 Newbie
Please could someone help me. I'm recently widowed and my Hubby was an accountant so he dealt with all the money. I have a savings account but its now earning no interest and the bonus rate ends tomorrow. Where can I put my money now ? Any advice would be great
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Comments
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Worth spending some time (when you're ready for such matters) reading up on a couple of useful guides published on the site:
https://www.moneysavingexpert.com/savings/which-saving-account/
https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/
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Some hints.
The high st banks have the worst interest rates .
More obscure banks some building societies often have the best rates . If they are in the MSE comparison list or in the comparison list below they are all covered by the same £85K compensation in case something goes wrong
The best rates are mainly available on line but not exclusively.
If you want easy/instant access they have the lowest rates and in this case probably Premium bonds are the best bet.
If you can tie your money up for a year or longer then you get a better rate but even here getting much over 1.5% is unlikely .
If you are offered anything over 2% that is supposedly guaranteed , then ignore it , it is scam of some sort.
https://moneyfacts.co.uk/savings-accounts/
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