Best online savings account out there . . - HotUKDeals
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Best online savings account out there . .

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Saw a post for ING Direct 3.5% plus £20 opening bonus Anyone know of any better rates out there for around £10k to invest ? Must be online and instant access Lots of rep for helpful replies - th… Read More
tallpete33 Avatar
8y, 4m agoPosted 8 years, 4 months ago
Saw a post for ING Direct 3.5% plus £20 opening bonus

Anyone know of any better rates out there for around £10k to invest ? Must be online and instant access

Lots of rep for helpful replies - thanks !
tallpete33 Avatar
8y, 4m agoPosted 8 years, 4 months ago
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#1
ive got savings accounts online but i hardly use them lol they are with nationwide and the co-operative bank not fussed for rep cause i dunno if they will help although can say co-operative very good and all based here same as nationwide i just have issues with them but on the whole a good bank been with them 6yrs
2 Likes #2
hi tallpete, id open the a couple fixed rate accounts as they pay the most

barclays fixed montlhy is @ 6% but max monthly is £250
abbey/bradfordbingly do a similar one 6% max £250 again

if you havent used your isa allowance this year, saffron BS have a 7% ISA which is an incredible rate!
banned#3
jackvdbuk
hi tallpete, id open the a couple fixed rate accounts as they pay the most

barclays fixed montlhy is @ 6% but max monthly is £250
abbey/bradfordbingly do a similar one 6% max £250 again

if you havent used your isa allowance this year, saffron BS have a 7% ISA which is an incredible rate!


Wow didn't see that 6% one, I've got a Tesco one for 5% guess where my money's going now :) btw isn't Bradford and Bingly going under?

Also if you have £3,600 to invest a monthly saver ISA of 7% is worse than a fixed rate ISA of 5% or even less (sorry if you didn't realise the 7% was a monthly saver max £250 per month)
#4
jackvdbuk
hi tallpete, id open the a couple fixed rate accounts as they pay the most

barclays fixed montlhy is @ 6% but max monthly is £250
abbey/bradfordbingly do a similar one 6% max £250 again



Not as good as they first appear, you will only actually get 6% per annum on the first £250.
banned#5
Inactive
Not as good as they first appear, you will only actually get 6% per annum on the first £250.


true, I had a lloyds TSB account for 8% for 2 years so I actually got 8% on £3,250 :) tax man took a nice chunk though.
banned 1 Like #6
think I worked this out wrong maths isn't my strong point, any help appreciated.

workings =
250 x 0.06 / 12 = £1.25
500 x 0.055 / 12 = £2.29

£250 - 6% AER - £1.25 interest
£500 - 5.5% - £2.29
£750 - 5% - £3.13
£1000 - 4.5% - £3.75
£1250 - 4% - £4.17
£1500 - 3.5% - £4.38
£1750 - 3% - £4.38
£2000 - 2.5% - 4.17
£2250 - 2% - £3.75
£2500 - 1.5% - 3.13
£2750 - 1% - £2.29
£3000 - 0.5% - £1.25

total interest £37.94 before tax??
#7
Inactive
Not as good as they first appear, you will only actually get 6% per annum on the first £250.


well ofcourse, but for the cash actually IN the account your getting the BEST rate by far...

http://www.moneysavingexpert.com/savings/savings-accounts-best-interest

use the "savings calc" on the page to work out interest
#8
jackvdbuk
well ofcourse, but for the cash actually IN the account your getting the BEST rate by far...

http://www.moneysavingexpert.com/savings/savings-accounts-best-interest

use the "savings calc" on the page to work out interest


Actually HSBC that pays 8% on a standard current account would be the best saving rate.

However the same rules apply.
#9
link me inactive, i take it this account is no ctaches no pay this monthly fee for rubbish or you need this account to get that account ?

also the money that you cant put into monthly savers can be put into the highest normal savings accounts so two points of interest
#10
Cheers all, rep left where deserved !!

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