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Author saving accounts...Which one?
corsa_paz
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Registered: 5th Mar 04
Location: Midlands
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31st Dec 08 at 16:29   View User's Profile U2U Member Reply With Quote
been made redundant not so long ago...got a nice pay off from my old employee..

i want to put away 5k in a savings account but dont have a clue with what bank or what scheme...with the credit crunch i know banks aint going to offer great % rates, but whats the best ATM??

Aaron
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Registered: 9th Aug 04
Location: Cottingham, East Riding
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31st Dec 08 at 16:32   View User's Profile U2U Member Reply With Quote
Stick £3600 of it into a cash ISA (this is the max you can put in to one every fiscal year)

You dont get taxed on your interest you see

As for the rest of it...dunno.
Marc
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Registered: 11th Aug 02
Location: York
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31st Dec 08 at 16:35   View User's Profile U2U Member Reply With Quote
I have an ISA and hight interest savings account, not sure on current rates but both with Halifax.
gavin18787
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Registered: 22nd Feb 05
Location: Basildon, Essex
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31st Dec 08 at 16:37   View Garage View User's Profile U2U Member Reply With Quote
as said 3k in an ISA and the rest into the best savings accound you can find

Drives supercharged Tec with torque
corsa_paz
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Registered: 5th Mar 04
Location: Midlands
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31st Dec 08 at 16:43   View User's Profile U2U Member Reply With Quote
are ISA all the same with banks or some better than others??
Aaron
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Registered: 9th Aug 04
Location: Cottingham, East Riding
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31st Dec 08 at 16:45   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by corsa_paz
are ISA all the same with banks or some better than others??


Some are better then others. Depends on the bank its with. Get onto Moneysupermarket.com in order to compare.

However...most of them restrict you to only 1 (somtimes none) withdrawl from the account over the year.
Daniel_Corsa
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Registered: 21st Apr 04
Location: Wigton, Cumbria
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31st Dec 08 at 16:51   View Garage View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Aaron
However...most of them restrict you to only 1 (somtimes none) withdrawl from the account over the year.


Mines with local buildng society and can withdraw whatever you want but say you go in and pop £3,600 in 3 months down line take £100 out you can't put £100 back in blah blah!

So best bet with any ISA is to not touch it at all, put your £3,600 in and forget about it for a year then add another £3,600 next year

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