Help, Best saving option for 1 year

slicecbr

Hi,

I posted a related add on here and I can't find it now.
My name is Scott and I am a student, and have 3500 pounds which I want to gain the most interest over a one year period.
Is this account the best one for me?

http://www.alliance-leicester.co.uk/savings/index.asp?page=esaver&exp=30&cm_mmc=moneysupe-_-sup-_-ec20456000226778esaver-_-detpagead

Thanks for your time and any responses!!

macca64

Depends if you need access to your money? There are some good 1 year fixed rate accounts around at the moment. The Co-Operative bank offers 6.62% AER fixed for 1 year.

RocketMan

If you are not being taxed and fill out an R85 to gain tax free status the A&L ac is a good option, as long as you dont need the money in the near future.

If you are going to be graduating soon then it may be worth putting the money into an ISA, Barclays offer one at the mo at 6.5%, or look at a fixed rate with Nationwide at 6.15%, this gives you security over the next year from any rate cuts.

If you want to play around with it a bit, pop it into a high int saver, for example Icesave, then open a regular saver acount and every month transfer in £250. This way you can take advantage of the usually higher rates on reg savers, below details how they work. Register both accounts for tax free status with an R85 if you can.

http://www.moneysavingexpert.com/savings/best-regular-savings-accounts

Best of luck with the saving!!

mount_girl

Today my boyfriend and I have spend a whole day in meeting in several different banks to get the best deal on a savings account to save for a deposit on a house.
I'm 21 and have been with Barcleys for ever but after being to Halifax today they have a fab deal on a current account that pays 6% gross on up to £2500 ac well as putting the max in my ISA is this a good deal?