Saving for 1 year

ispookie666

Can anyone recommend a savings product to squirrel away money for a year ? 
My personal savings allowance is 0, i'd rather not use ISA's as hoping to use S&S ISA once I hit my target amount.  

RG2015

Have you looked on the excellent Moneyfacts site?

You will need to click on your chosen account type and also rate order to get a full list.

I have also provided a link for all one year accounts.

https://moneyfactscompare.co.uk/savings-accounts/

https://moneyfactscompare.co.uk/savings-accounts/1-year-fixed-rate-bonds/?quick-links-first=false

simon_or

If you don't want to use a cash ISA, have zero PSA and don't need the funds for a year then I guess you just pick the top 1 year fixed rate bond and chuck it in there? Top rate currently around 5.76%

Alternatively if you want to retain some control, then a top rated notice-account. Currently around 4.85%

Or if you want to be able to access anytime then 4.15% top easy access.

https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/

badger09

If your personal savings are 0, then I suggest you look at Regular Saver accounts.  

Bigwheels1111

Just pick the best rate and pay the tax.

2 years ago you would have got almost nothing in interest, whats a bit of tax.

80% of somthing is better than nothing.

frugalmacdugal

Hi,

you can transfer cash Isa to S&S.

Bridlington1

There's also the Barclays Rainy Day Saver at 5.12% (£5k max) though you'd need to jump through a few hoops with Barclays blue rewards for it:
https://www.barclays.co.uk/savings/instant-access/rainy-day-saver/

aroominyork

ispookie666 said:

Can anyone recommend a savings product to squirrel away money for a year ? 
My personal savings allowance is 0, i'd rather not use ISA's as hoping to use S&S ISA once I hit my target amount.  

It reads like must choose between a cash savings ISA and an S&S ISA. That is wrong. You can have one of each, £20k cash, £20k S&S. But if you want a short term non-ISA and low tax solution, there are plenty of recent threads discussing short term, low coupon nominal gilts.

grumbler

aroominyork said:

ispookie666 said:

Can anyone recommend a savings product to squirrel away money for a year ? 
My personal savings allowance is 0, i'd rather not use ISA's as hoping to use S&S ISA once I hit my target amount.  

  It reads like must choose between a cash savings ISA and an S&S ISA. That is wrong. You can have one of each, £20k cash, £20k S&S.

Really? Two £20K yearly allowances?

aroominyork

grumbler said:

aroominyork said:

ispookie666 said:

Can anyone recommend a savings product to squirrel away money for a year ? 
My personal savings allowance is 0, i'd rather not use ISA's as hoping to use S&S ISA once I hit my target amount.  

  It reads like must choose between a cash savings ISA and an S&S ISA. That is wrong. You can have one of each, £20k cash, £20k S&S.

Really? Two £20K yearly allowances?

Ah, maybe not. I think I may have messed up (see this attempt to fix it).

ispookie666

Well, I made a schoolboy error. I forgot that wifey still had her reduced personal savings allowance. I have put the money aside in an easy-access account via HL. The current interest is 4.5%.  
We hope to use up the ISA allowance for both of us this year.