Monthly deposit savings accounts?

funkey_monkey

Hi,

I've got an Egg savings account which I pay £20 per month into. However, the interest rate on this has dropped to ~3.75% and I'm wanting to switch into something a bit better.

Who are the best for these types of accounts?


Thanks in advance,

Aegis

funkey_monkey wrote: »

Hi,

I've got an Egg savings account which I pay £20 per month into. However, the interest rate on this has dropped to ~3.75% and I'm wanting to switch into something a bit better.

Who are the best for these types of accounts?


Thanks in advance,

I think my employer (HSBC) has a regular saver that's currently 8% gross, or 10% if you're a Premier customer. I imagine other banks have much the same offers, so take a look around.

Of course, regular savers are very inflexible, so if you need access to this money at any time for the next year, probably better to go with a good instant access savings account, which you can get up to 6.5% AER at the moment.

neilp

As far as I know, Abbey has one that pays 7.25%. I have tried to open an account recently, but found the process cumbersome, bureaucratic and time-consuming (I sent off the application nearly a month ago and the account still is not open). I'm saying this for information, not suggesting that my experience is typical. Skipton Building Society have a similar account, which I think pays 7.05%. I have one of these and am quite impressed with their service. However, I am not sure how easy it is to get this account without access to a branch. There are other accounts that pay higher rates, but as far as I am aware, they are all linked to current accounts, which must be held with the same bank.