Where's best for my money

newmum2be04

Hello
Still quite new and if I'm honest find it hard to understand financial jargon so after some advice please.
I have £7k (currently sitting in A&L plus saver account) and wish to move it to get the best out of my money. Ideally I would like to save this for the future my unborn child but realise that life changes so would need easy access if required.
Thanks.

isofa

As you'll need easy access, don't lock it away in a 1 year (or longer) fixed rate account, stick to instant access accounts.

The best rates are always online, companies such as Icesave and Kaupthing Edge are the current favourites, around 6.3% to 6.5%

For a full list, view the tables at MoneyFacts.

newmum2be04

Brilliant I'll have a look at the tables now. Thanks.

LongTermLurker

Bradford & Bingley are relaunching their Internet Saver account (as Issue 3) tomorrow at 6.51%:

http://forums.moneysavingexpert.com/showthread.html?t=977169

But beware that in about 6 weeks they'll have dropped the rate and a few weeks after that they'll have brought out Internet Saver issue 4. Unless you are up for a lot of rate monitoring it might not be worth it.

I like Kaupthing Edge - they don't play with their rates and have a good guarantee to beat the base rate:

Kaupthing Edge offers a savings account with a highly competitive interest rate of 6.50% AER*. The interest rate will be at least 0.30% (gross) higher than the Bank of England Official Rate until 1st February 2012. This is an easy and effective method of investing your capital without tying it up. The savings account gives you fast access to your savings – you may make withdrawals and deposits whenever you wish. To obtain the highest interest that we offer at any given time, you must have at least £100 in your savings account.

jasonjuicer

isofa wrote: »

As you'll need easy access, don't lock it away in a 1 year (or longer) fixed rate account, stick to instant access accounts.

The best rates are always online, companies such as Icesave and Kaupthing Edge are the current favourites, around 6.3% to 6.5%

For a full list, view the tables at MoneyFacts.

That sounds like a great idea, I wouldn't have thought of that.