High Interest Savings Accounts..

blizeH

I'll keep it short and sweet, I want the best returns on the money I currently have in various savings accounts:

C&G Cash ISA Account -
£9,000~ @ 4.35%

C&G Tracker Account -
£5,000~ @ 3.00%

Lloyds Online Saver -
£7,000~ @ 2.99%

The only one offering a semi decent rate of interest is the Cash ISA but even that seems low to that's possibly available. I've become very complacent with it all but have finally decided it's time to move it into higher interest accounts after seeing that HSBC offer an 8% interest account! I know that's only for special circumstances but it still makes me think I could possibly move everything into an account somewhere offering 5% but just don't know of any.

Please help me get out of this mess :P Thanks

Kazza242

The current best mini cash isa rates are:

Halifax' ISA Saver Direct paying 5.00%.

Bradford & Bingley E-Saving ISA paying 5.00%.

Kent Reliance BS Direct mini cash ISA paying 4.96%.

Savings accounts:

There are currently so many no-notice, easy access savings accounts right now it is impossible to list them all. Most of them have short-term bonuses or strict conditions.

I think ING Direct are definitely worth a look. At 4.75% they offer one of the best (non-bonus inflated) rates around for a no-strings, easy access account. They pay monthly interest. Definitely better than the accounts you've currently got.

Regular Savers:

A requirement of the HSBC 8% regular saver is that you have a current account with them and your salary be paid into the current account each month. Their current account pays one of the poorest interest rates on 'in-credit' balances. This regular saver is not worth the hassle - unless you're already an existing HSBC current account holder.

Halifax offer a 7% fixed rate on their regular saver. It runs for 1 year. Deposit between £25-£250 per month. 12 consecutive payment required

Leeds BS offer a 7% fixed rate. Runs for 1 year. Deposit between £25-£100 per month. 12 consecutive payments required.

Others are:

- Principality BS at 6% fixed. 1 year term. £20-£500 per month. 12 consecutive payments.

- Scarborough BS at 6% variable. no term. £10-£250. 10 out of 12 monthly payments required.

- Leek United BS at 6% fixed. 1 year term. £10-£250. 12 consecutive payments.

*Remember regular savings accounts are not appropriate for savers that want to be able to make withdrawals. Making withdrawals during the account term usually results in a loss of interest and in some cases account closure.

Indispensable_Hobbes

http://www.moneyfacts.co.uk/savings/charts/savings_internet.htm
http://www.moneyfacts.co.uk/savings/charts/savings_notice.htm

JEC

Beverley B.S. mini-cash ISA pays 5.05, though you only get one instant access withdrawal (which may be a transfer out)

grumpyoldgit_2

Good comparison pages for a range of savings and investments at:

http://www.moneyextra.com

I have used this site for years to track (free) my investments - always found it useful

GoG

Lt_Sched

Hi folks, I am seeking advice for the parents-in-law. They are moving home, downsizing even. Once complete they will have paid off them mortgage and then some. They are wondering where may be best value to invest their spare thousands?? Advice would be much appreciated on the 'type' and which 'better yielding account' to open in those circumstances please.

Lt.

blizeH

Many thanks for the replies guys

Tempted to go with one I found called first direct which offers 5% AER (is that the amount I get before or after tax?) or possibly ING Direct and then also creating a Mini Cash ISA at Halifax.

I'd transfer all of my current money into ING/FD (which do you recommend?) and then pay the maximum amount, £3,000, into my Halifax ISA each month.

Sound like an okay plan?

Thanks again.

monki_man

Kazza242 wrote:

A requirement of the HSBC 8% regular saver is that you have a current account with them and your salary be paid into the current account each month.

i didn't know you needed to put your wages in there, im with hsbc but moved my wages to another bank, will they cus it and drop the interest rate down?

grumpyoldgit_2

blizeH wrote:

Many thanks for the replies guys

Tempted to go with one I found called first direct which offers 5% AER (is that the amount I get before or after tax?) or possibly ING Direct and then also creating a Mini Cash ISA at Halifax.

I'd transfer all of my current money into ING/FD (which do you recommend?) and then pay the maximum amount, £3,000, into my Halifax ISA each month.

Sound like an okay plan?

Thanks again.

Hi

FD is pre-tax 5% - search the board there a several interesting discussions going on along these lines already and also specifically about FD as a bank.

You seem to have the wrong end of the stick re mini cash ISA - the limit is £3000 in any one year - if only it were per month :rolleyes: we could save (no pun intended) a lot of posts as our search would be over!

Good Luck
GoG

blizeH

Oh, thanks for that, yeah I actually read up on FD after posting that and realised it wasn't such a great idea!

Basically then, open an ING direct account, transfer everything from my C&G Tracker account and Lloys online saver into that, at 4.75% interest. Then keep the £9,000~ in my C&G Mini Cash ISA, but as soon as the one year wait is up* open a mini cash ISA at Halifax and trasfer £3,000 into that. Correct? Thanks again btw, you're all stars ;x

* I did realise it was P/A and not P/M, I just typed it wrong, hehe, d'oh.

YorkshireBoy

blizeH wrote:

Oh, thanks for that, yeah I actually read up on FD after posting that and realised it wasn't such a great idea!

Basically then, open an ING direct account, transfer everything from my C&G Tracker account and Lloys online saver into that, at 4.75% interest. Then keep the £9,000~ in my C&G Mini Cash ISA, but as soon as the one year wait is up* open a mini cash ISA at Halifax and trasfer £3,000 into that. Correct? Thanks again btw, you're all stars ;x

* I did realise it was P/A and not P/M, I just typed it wrong, hehe, d'oh.

In your situation, this is what I'd do...

1. You don't have to wait until the "end of the year" to do something with your ISA. Visit a Halifax branch and open an "ISA Direct" @ 5%, which is a postal/online ISA and pays a better rate than their other ISA. Tell them you'd like to transfer your C&G ISA from previous years. They'll take care of everything.

2. Open an ING Direct savings account and move the rest of your money in there for 4.75% AER.