Regular saver ends soon.

Printer

Hi, My regular saver with Lloyds ends in a couple of month. I've been maxing it out so should get 6k ish. My isa is full for this year. I have an ICICI saver and online bond.

So when it ends where should i put it? I need a couple of sugestions.

Which;

Regular saver?
Which "other" saver? ( Is ICICI good enough to put it in)?


Thanks

emma396

my ends soon as well. the most important thing to do is not to leave it in the account they put it in!!

more bonds? when will u need the money?

Baldur

7% on the latest ICICI Term Deposit looks attractive, if you are unlikely to need access for 12 months.

moonrakerz

Put in the best instant access account you can find, then feed it into another regular saver, or two !

Printer

So what is the best regular saver?

moonrakerz

This is the one I have:

http://www.firstdirect.com/savings/regular-saver-overview.shtml

chesky369

the problem with the first direct is that it's 8% but for only 12 months, which works out about 4.5% over the year. The good thing about the Lloyds was that it was for two years - but with this there's no real advantage and you might just as well put it into a 6 month or one year fixed rate number at 6.8% or so.

moonrakerz

chesky369 wrote: »

the problem with the first direct is that it's 8% but for only 12 months, which works out about 4.5% over the year.

No, that is only true if you keep the money in the kitchen drawer - because you are getting interest on the money (say 5%) in an instant access account, then you are getting 8% as you transfer it at £300 a month to the reg saver.
The total interest rate on your original £3600 comes out to about 6.5%.

sloughflint

But no withdrawals are permitted just like with a fixed bond so surely Chesky's reasoning is sensible if interest > combined interest

emma396

a&l reg saver looks good as long as u open their current account and pay in £500 each month

moonrakerz

sloughflint wrote: »

But no withdrawals are permitted just like with a fixed bond so surely Chesky's reasoning is sensible if interest > combined interest

Don't follow your logic.