*Feeling brave, here goes...* I suspect this deal might go stone cold given that there aren't really any good savings deals at the moment, but this is the best and most flexible savings account I've come across from any high street bank or building society this year.
I've actually just opened once of these accounts for myself today
Introducing.... the Savings Builder account from Natwest. A flexible instant access savings account that provides 1.5% AER interest rate (now TAX FREE under the gov's Personal Savings Allowance scheme) on balances of up to £5k and a 1% interest rate on balances between £5k to £10k.
How Does This Compare Against ISA Savings?
Currently the best instant access ISAs are paying around 1% interest. The benefit of these ISAs over the Natwest Savings Builder is that they have a much higher limit (£20k/year), but for anyone with savings of less than £10k you will be better of with the Natwest account.
- Starting balance can be as little as £1 with no upper limit
- In order to qualify for the 1.5% interest you MUST transfer at least £100 per month into the account
- The account is instant access with NO penalty
- You don't have to pay in £100 each month. If you decide not to you simply forfeit the interest for that month only
Other Good Deals
Credit to @Speculator for this - "nationwide 5% flexdirect (max £2500) plus Flexclusive regular 5% (£500 per month)