Keeping it simple

Hi all. Need your collective brains please.
Before kids I was all over the finances. But two kids later, and no spare time, I have let things slip. Want to try and get back on top of things though. Our savings are hardly working for us. So looking for a simple process.
Currently £3k in a virgin isa paying 0.2% interest monthly - less than £1 per month
£900 in a BoS account paying 0.5% annually
£750 in a BoS regular saver paying 4.5% annually
I am paying the max, £250 per month from the BoS account into the regular saver.
But think I should be emptying the isa first, as it is lower interest, but its Monthly?
Or is there another account, preferably virgin or BoS that I can put the isa and saving account into, esrning better rate, monthly?
Mortgage: 01/02/14 - £108k
Mortgage: Current - £97k
Mission: MF by 50


  • edited 22 January at 12:17PM
    KatiehoundKatiehound Forumite
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    edited 22 January at 12:17PM
    Sorry don't know the answer to your question! but as you have BoS I assume you might have access to Halifax? (my BoS a/c s appear  on my Halifax internet banking)
     Could you have a basic Halifax a/c with access to their RS also paying 4.5%.
    I'm not even sure that you need a H. c/a- maybe not... clear as mud!

    Looks like the BoS cash isa is paying 2.9%-  
    Also easy access Virgin isa paying 3%
    The first article in this week's email is all about cash isa 

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  • eskbankereskbanker Forumite
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    Thread is also (correctly) posted on savings board:
  • edited 22 January at 1:46PM
    grumblergrumbler Forumite
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    edited 22 January at 1:46PM
    Although the same Virgin offer a 3% flexible ISA, with such small amount of savings it makes little sense to have ISA as you can earn £1K interest p.a. tax-free.
    With £20K annual ISA allowance you can easily build up your ISA later.
    If you want easy access to you savings, open YBS 3.35%* Rainy Day Account Issue 2 (2 withdrawals p.a. or closure) and direct as much as you can to regular savings accounts.
    * You can get 5% on £5K at Barclays, but will have to jump through some hoops.

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  • pridehappypridehappy Forumite
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    Have a look at Virgin Money M Plus & Saver, great interest rate on the whole amount and fully flexible! Wouldn’t recommend Bank of Scotland for higher rates. Virgin also offer some other great high interest savers and ISA’s too.
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