where to put savings with 123 acct

ruthhh · 8 March 2018 at 6:11PM

]I have a 123 santander acct with £20,000 in , gaining all the perks from direct debits ,utility bills etc. I have £5,000 + to put somewhere . I am thinking of santander e saver. Wondering what people would suggest.

xylophone · 8 March 2018 at 6:28PM

Have you ever had a Nationwide Flexdirect account?

You might open one of these and deposit £2500 - 5% on this for a year - you can cycle in/out the required monthly £1000 from Santander.

https://www.nationwide.co.uk/products/current-accounts/flexdirect/features-and-benefits

Also Flex regular saver @5%

https://www.nationwide.co.uk/products/savings/flex-regular-online-saver/features-and-benefits

Other savings rates

http://www.thisismoney.co.uk/money/article-1583859/Best-savings-rates-General-savings-Internet-branch.html

ruthhh · 8 March 2018 at 6:45PM

thanks willl look at those

AndyPK · 8 March 2018 at 7:32PM

found out about a natwest saver @ 1.5% for £5K today

capital0ne · 8 March 2018 at 7:37PM

Go for P2P, FundingCircle or RateSetter would be my choice

EachPenny · 8 March 2018 at 7:53PM

AndyPK wrote: »

found out about a natwest saver @ 1.5% for £5K today

Makes a lot of sense, especially if you already have a NatWest current account. It isn't the best interest rate out there, but beats most instant access accounts for deposits below £5k.

If I didn't have one already I'd open one - even if I didn't fully fund it yet - to have as a rainy day option.

AndyPK · 8 March 2018 at 7:55PM

rainy day option.. Humm. Not a bad idea.

where_are_we · 8 March 2018 at 8:10PM

Definitely go ahead with the Santander Regular e saver (issue 6). For 123 customers it pays 5% on 12 monthly payments of £200.

EachPenny · 8 March 2018 at 8:15PM

AndyPK wrote: »

rainy day option.. Humm. Not a bad idea.

Just make sure you fully read and understand the T&C's very carefully

To earn the interest you need to increase the balance on the 'second last' working day by £100 compared to the previous month. (£50 from April).

There's various ways of achieving this, and money can be taken out during the month so long as the balance is topped up for that crucial second-last day.

where to put savings with 123 acct

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