Best savings account

PoGee

I'm a santander customer. I'm saving up to do further renovations (new CH, upgrading electrics, kitchen etc.) - the money isn't earning much interest. Their cash isa doesn't give a high interest and I don't want to get a fixed rate bond etc, in case I need quick access to the money. The amount is around 30k split between 3 banks. I also get interest from shares in the amount of around £500 each year. I was thinking of applying for the edge up current account and transferring 25k there but the shares interest + savings interest would go over £1k. I do a self assessment each year so declare all interest.
Is there a santander account that would be best for interest + easy access? How easy are cash isa's to set up (with other banks)? I've got a santander stocks and shares isa but haven't put anything into it since 2021.

amanda1024

I’ve got a virgin money ISA paying 5.25% - which I found quick and easy to set up online (including opening a current account first). Or Moneybox have a decent rate on their cash ISA at the moment too, also fairly easy to open online (with a smartphone app)

PoGee

Thanks Amanda1024, I'll check out the virgin money one. I've been with virgin media for a good few years and found them ok to deal with. Do you know if the virgin money call centres are UK based?

Albermarle

 I've got a santander stocks and shares isa but haven't put anything into it since 2021.

S&S Isa's are only really suitable for the long term. Not for savings up for home renovations etc .

Bridlington1

First of all I wouldn't bother with the Santander Edge Up account. The interest rate is only 3.5%, which is pretty poor compared to other easy access accounts (several pay over 5%). If you're going to upgrade your Santander account you'd be better off going for the Santander Edge current account which still gives you the cashback on bills etc but also gives you access to the Santander Edge Saver which pays 7% on balances of £4k or less.

A few links that would probably be of use (remember to click rate order when using these links):
For a list of the top easy access accounts see:
https://moneyfactscompare.co.uk/savings-accounts/easy-access-savings-accounts/?quick-links-first=false

For a list of the top easy access cash ISAs see:
https://moneyfactscompare.co.uk/isa/easy-access-cash-isas/?quick-links-first=false
 

xylophone

You haven't used your ISA allowance this year.

Check out flexible ISA

https://www.moneysavingexpert.com/savings/flexible-isas/

You could contribute £20,000 now and  up to £20,000 from 6 April.

allegro120

PoGee said:

Thanks Amanda1024, I'll check out the virgin money one. I've been with virgin media for a good few years and found them ok to deal with. Do you know if the virgin money call centres are UK based?

Virgin fixed rate ISA issue 11 (5.25%) is the best cash ISA deal at he moment. One thing to bear in mind - You'll be charged 60 days' interest on the amount taken out during the fixed term (the same charge applies to closure). 

I've been calling Virgin Money a few times in the past 4 years and three times today, by the sound of it call centres are UK based.  Also the calls are answered very quickly.

allegro120

soulsaver said:

allegro120 said:

PoGee said:

Thanks Amanda1024, I'll check out the virgin money one. I've been with virgin media for a good few years and found them ok to deal with. Do you know if the virgin money call centres are UK based?

Virgin fixed rate ISA issue 11 (5.52%) is the best cash ISA deal at he moment. One thing to bear in mind - You'll be charged 60 days' interest on the amount taken out during the fixed term (the same charge applies to closure). 

I've been calling Virgin Money a few times in the past 4 years and three times today, by the sound of it call centres are UK based.  Also the calls are answered very quickly.

Typo : 5.25% - sorry to correct, but don't want to get hopes up...

Thank you for spotting this and correcting! I've edited the OP now.

Catbells

Thanks Im interested in this too.  Is it for one or two years?  Can I add to it after April 4th if I open it now with £5000? 

Catbells

I just read that you need to have an account with Virgin to get this ISA.  I have an ISA with YBS - but I;m guessing this doesn't count as an account?

eskbanker

Catbells said:

I just read that you need to have an account with Virgin to get this ISA.  I have an ISA with YBS - but I;m guessing this doesn't count as an account?

No, there's no connection between YBS and Virgin.

Virgin Money does encompass Yorkshire Bank though....