Not sure what savings account to go for

saver2000

Hi,

I currently have a fair bit of savings (around 9K) in a barclays savings account, but obviously I want to move it somewhere with a higher rate as it's only around 3% or so where it is now.

I spent a bit of time reading about ICICI's HiSave, and decided I was just going to just go for it, but then the Kaupthing account has now come along with a better base rate guarantee and better interest.

It seems the economy is in for a bit of a rough ride so I want an account that's going to give me good interest for a few years and be safe. I know I'm protected up to £35K but some of the talk on here about the icelandic banks is worrying. I'm probably going to buy a new car (spending around 2-3K) in the summer but apart from that I'm probably going to continue saving for a few years until I've got a nice deposit for a house.

I'm not sure if I should just go for the Kaupthing account or go for a more well known bank.

Has anyone got there Kaupthing Edge savings account setup yet?

tradetime

Do you have an ISA? If not that would be the first thing to setup.

tradetime

Here is some info on Kaupthing Bank personally I haven't had any dealings with them so couldn't comment.

saver2000

tradetime wrote: »

Do you have an ISA? If not that would be the first thing to setup.

Yes, I've got an Egg ISA setup already and I put £3000 in it.

McSaver

Icesave Would be a good option as well since they have an ISA that pays 6.1% and an Instant access that pays 6.3% and you can always move money from your instant access to your ISA when the new tax year begins on Aril 6th.