Savings advice needed for Novice.

former_student

Following some good advice from here on a previous thread my girlfriend has asked me to post another question (why do I get left with these jobs?)

She wants to transfer some of her money out of IceSave (as there is too much here at the moment) and into a different savings account preferably one with an equally high interest rate as IceSave or if possible higher. Does anyone have any suggestions of some good accounts?

She also wants to transfer her ISA from its current account which pays 5.5% into a better one what advice do people have based on interest fluctuations etc?

Thanks.

Liz_the_Whizz

My advice would be to wait until the impact of today's Bank of England base rate cut plays out.

We don't know yet who will have nerves of steel and who will drop their rates by the full 0.25%.

Neither ICICI nor Icesave cut rates last time the bank rate dropped at the back end, so surely something will give this time?

But with so many new kids on the block offering even higher rates at present(Kaupthing and First Bank of Nigeria, not to mention A&L, West Brom and Derbyshire closer to home), who knows who will come out on top of the best buys by month end?

Watch this space