Savings accounts

mickthechippy

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Has anyone at present got any recommendations for

an instant access or 30 day access high interest savings account,

Im looking to switch a bit of the stash around as Im increasingly unhappy with the interest rates on a couple of the accounts that I have

(not ISA's etc)
 

Dave Spence

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If I were you mate I would sit tight and wait until after brexit when things become more settled.
 

Somersetlad

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Interest rates for cash saving are pretty poor everywhere, especially the high st banks. I've got a Virgin Money Double Take E-Saver - only available online,, which is a bit better, but only allows 2 withdrawals a year, so it may not be what you're after. Online accounts are generally better than branch ones, but not a lot in it.
 

Neil ofthe nene

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Savings accounts and high interest do not go together in the same sentence. Almost always even the best rates will barely keep pace with inflation. Instant and short notice withdrawal accounts will never offer good rates.

An investor really needs to be honest with themselves as to their goals and needs. How much do you really need to be iñstantly available and how much can be invested for a longer term.
 

Feldy

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Not strictly a savings account (actually a gambling site) but I cannot recommend Football Index highly enough, Shown a consistent profit since I've been a member, works a bit like stocks and shares for football players so you don't lose all your stakes.
Also get daily performance bonuses and media bonuses.
Can buy a tracker of top 10/25/50 players and leave it alone and I'm fairly sure of a minimum 20% profit over a year and that's being cautious.
You can buy and leave or take an active interest, worth a small investment of money imo.
If you don't like it you can withdraw money and it's in your account in 3 days generally.

10% sign up bonus as well until end of month Football Index - Buy & Sell Footballers with real money on the Football Stockmarket
 
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mickthechippy

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Savings accounts and high interest do not go together in the same sentence. Almost always even the best rates will barely keep pace with inflation. Instant and short notice withdrawal accounts will never offer good rates.

An investor really needs to be honest with themselves as to their goals and needs. How much do you really need to be iñstantly available and how much can be invested for a longer term.

i have a couple of "term" investments Neil, plus the ISA's

this is for what I term the rainy day money, at present its in an account that at first realised around 4%, but has now reverted to 0.2%

there has got to be better than that on offer somewhere, its not a huge amount, in the thousands of pounds and with a regular payment made each month
 

Neil ofthe nene

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Instant access and small amount means no one will be willing to offer much in the way of interest.

With low inflation rates as we have today interest on savings will automatically be low. You cannot have it both ways unfortunately.
 

Dusty

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My parents have put a load into premium bonds, I think on average they are making between £50 and £75 a month from them.

Definitely worth a look..
 

mickthechippy

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My parents have put a load into premium bonds, I think on average they are making between £50 and £75 a month from them.

Definitely worth a look..

my old mums done the same, now holds the maximum, shes won a couple times in the year that she has held them too
 

mickthechippy

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though I need an account that has the ability to recieve regular standing order payments in
 

Neil ofthe nene

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My parents have put a load into premium bonds, I think on average they are making between £50 and £75 a month from them.

Definitely worth a look..

The amount needs to be calculated as a percentage return on investment, not just a straight £amount.

The attraction with PSBs is the possibility of getting a large prize. But generally the return and odds of winning are calculated to give something similar to a savings account. Hence the number and amount of prizes alters through the year to match interest rates. The more you hold the closer to the target rate of return you will see on a regular basis. Lucky ones will see a large prize that bumps up the return over a short period of time. The unlucky ones may see a return less than savings account rates. The more you hold over a longer period of time the more the overall rate of return will be average.
 

dave the fish

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Agree with Santander 123 account. It’s basically a current account paying 1.5% on balances up to £20k. You need 2 live direct debits and pay in £500 per month. It has a £5 a month fee. Also gives a small amount of cash back on certain bills.
You can then open a linked regular saver account and pay in up to £200 a month for a year and get 5% on that (worth about £60 pa)
 

Wise Owl

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My parents have put a load into premium bonds, I think on average they are making between £50 and £75 a month from them.

Definitely worth a look..

How do they work and what’s the procedure to get some mate ?
 

Dusty

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How do they work and what’s the procedure to get some mate ?

I have no idea as I don’t do it myself, from what I understand though it’s risk free in terms of what you invest.

 

spanky

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Check out Top Savings Accounts

They usually have tables showing the best deals available at that moment in time. Currently it looks like Principality is the best bet for you... however there' not much in it with interest rates so low at the moment.

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