High Interest Savings Accounts..

blizeH

Absolute legend, thanks!

God, some of the posts on here I wish I could press the thank button twice for

Kazza242

monki_man wrote:

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?

It is highly likely that they will do just that, yes, as you are not meeting all of the conditions that are required to get the 8% rate.

What you could do is get your wages paid into your HSBC current account and then once they are there, you could transfer it straight back out to any account of your choice. Once your wages are credited to your HSBC current account each month, there is nothing in the conditions to stop you from moving your money straight back out to be deposited elsewhere. Most HSBC regular saver account holders are doing just that, as the current account pays a poor rate of interest.

I would probably get this sorted sooner rather than later if I were you. You don't want to wait until your regular saver matures to find that you have received a lower rate of interest than 8%, because you breached the terms and conditions.

Lt_Sched

Any chance of some advice ref. my post on this thread earlier this morning??? Please.
Got to keep the in-laws happy.
Lt.

YorkshireBoy

Lt_Sched wrote:

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_Sched wrote:

Any chance of some advice ref. my post on this thread earlier this morning??? Please.
Got to keep the in-laws happy.
Lt.

Your post got lost in the middle of someone elses thread!

How many "thousands" are we talking about? 2 or 200 - because the suggestions and/or advice will be different.

As a starting point, check out Martin's articles in the "savings zone" by clicking the link with the same name in the blue box above this thread.

Lt_Sched

Thanks v much YorkshireBoy, I am not sure....maybe about 40 to 60k. Any advice appreciated and I'll be checking that link !
Lt.

casio2005

The Scarborough BS My Savings account looks like a really good account for you.

You get 6% gross interest and the following:

- Save from £10 to £250 every month
- You may vary the amount you save each month (provided it is at least £10)
- Mini Cash ISA option available
- 1 withdrawal permitted per year

http://www.scarboroughbs.co.uk/savingsandinvestments/products/my_savings.html

blizeH

Hmm, got my Cash ISA up and running now, 5% interest free, very nice, although my current websaver with the Halifax turns out to be not so great, it's 4.40% Gross which after tax equates to about 3.4%, right?

Basically, I'm not much better off than I was before with my C&G Tracker account, meh ;(

tomstickland

There's quite a few good payers out there, don't put up with less than 5%.

Personally, I've got a 5% mini cash ISA with First Direct, a 5% First Direct savings account (no interest if you remove money in a month, so probably closing this one), I've just applied and been accepted for a HiSave account (5.1%). Plus Alliance and Leicester have this 10% regular savings account. If you move £250 per month into this account then it works out at about a 7.5% rate over the year.