What saving account is ideal for my savings? (£7,968)

badger09

CocosMum_3 said:

Hello..Im new to this and coul do with some good advice.  In a month or so I am due to get some Inheritance monies, Im not sure how much yet.  I dont have a clue what to do wth it, so need to have some advice on where to put it until I do.  Thank you 

Best to start your own thread rather than tag into someone else’s. Also, you’ll need to provide a bit more info if you want more than general suggestions. Eg amount, any existing savings, any debts, pension provision etc etc 

LostSoulUK

Its been a while since I updated here, since then I've basically setup a few savings accounts. I'm still unsure if this right, I'm no expert as I've said but this is what I've setup.

TSB Save well limited access ISA 3.34% interest in month of no withdrawal (monthly interest)

£5,000 transferred from the Trading 212 account into the Save well account

TSB Monthly Saver 5% interest - £50.00 monthly deposit standing order (interest over 12 months)

My current TSB spend & save account has £1,752.40. Initially I transferred £6,000 into the TSB Save well account and left £1,000 into Trading 212 but I stupidly left nothing in my current TSB account which went into -40 so had to quickly transfer something into my main account to not get overdrawn. So I transferred 2k into the main account, took 1k from the save well account and 1k from Trading 212 account, the latter now has nothing in that account.

The TSB advisor helped to set me up with TSB savings accounts, I figured its best to stick with my bank as they're reliable and have multiple options to save so I now have 2 running with them. I haven't seen much interest yet but its early days as they was setup about a month ago. I'm sure I could be something more but this is what I have for now.