Right, put up a post the other day about wanting to put my interitance pay out somewhere it can grow abit while i start saving and sorting shit to go look/buy/rent my own place, and been told this is a very good place to put it;

http://www.firstdirect.com/saveinvest/esavings.shtml

What do ya peeps in the know think? I want somewhere it is accessible just in case I need it, but not as easy to get to as my current account or I'll probably get drunk and go buy a Cossie or summat I also want a fairly decent interest rate (told 5% is quite good) but not an account where you have to have it time-limited (ie: 1yr/3yr/5yr bond account)

Is this gonna be good for me?

 

HAVE YOU EVER HEARD OF PREMIUM BONDS its a bit like lottery the more money you put in the more chance you have at winning extra money,you wont lose any money and it takes a week to draw it all out,its just something my old man mentioned me to do with the money from my car

 

My old man said summat similar, but also that "interest" is not garanteed

Stable is the order of the day methinks

 

ive had premium bonds for 20 years & not won a penny!

stick 3k in a ISA to start with - i think my interest rate is up near 5% ......... pity theres nothing in it anymore!!

 

up ski as im interested in names and places of sum high interest accounts!!

 

I bank with First Direct and am very happy with them. If you have a mortgage I'd certainly suggest you think about moving to an offset loan - you don't get interest on the savings, but you don't pay interest on that part of the mortgage, so the "interest" is tax free and you save more than you would earn on traditional savings.

If you have debts you may get a better return by paying them off instead of having savings (watch for early termination charges, though). e.g. if you are paying 2% a month on a credit card, it would be better to get shot of that than earn 5% per year on savings. What you don't pay to the card each month can go in the savings account - so long as you don't go and run it up again.

 

http://www.moneysupermarket.com/Savings/

 

these guys had a good rate http://www.ingdirect.co.uk/html/oa/oa_online.html

 

Yep, I use ING - no problems at all, does exactly what it says, and easy to move money around for access within a few days if need be..

 

i was going to set up an ing account, but you get taxed 20%!!!!!!!!! on your savings!!!!

 

As said above, premium bonds are OK You need a decent amount to stand any chance of winning though
Maximum you can invest is £30K (used to be £20K)

 

All UK banks and building societies are obliged to deduct tax from the interest they pay you, unless you fit into one of a couple of exempt groups (like schoolkids, for instance) where you fill in a form to have the interest paid gross.

You also have to declare the interest on your tax return so they can take the rest of the tax off you through your tax code.

Another reason to get rid of debt instead of having savings. When I got paid off, I had too much cash in the bank for any benefit above contribution based job seekers allowance. And they wouldn't let me use cash to pay off debts so that I would qualify for more, and of course they don't give you any extra cash to pay the payments on debts!

 

llyods do a good internet savings account 4.68% i think it is, can be used the same as a normal account online.

seeing some nice interest earning in there at the moment, obviously depends how much you want to put into the savings account

 

My savings go into my two sons bank accounts they don't get taxed and its a good interest rate.

 

So whats best? First or Ing?

 

Thrush look at Skipton building society, they have some really good rates of interest at the mo

 

Can only see stuff over 5% for 3yr fixed accounts tho

think I'm just gonna go with First Direct

 

Thrush, have u looked at my link - http://www.moneysupermarket.com/Savings/ ?
If you fill in the options at the top, this will show you loads of accounts available, immediate access and notice accounts.

Cheers
Rich

 

I did rich but got all confused so just closed the window

 

oh dear.... tell ya what - give me yr cash, I'll look after it for you... trust me

 

pmsl

excellent, thanks - cheques in the post

 

Nationwide building society. High interest acccount. Does it for me...................... think its about 8.75% or sumat like that

 

Thrush seriously mate stick it in a fixed intreste account, dont get into stocks and bonds the market still needs to recover.

 

Yeah it's going in First Direct savings account I think

 

Get £20k together, buy an apartment in Varna (Bulgaria) from the plans, wait 10 months until it built and its worth £60k+, sell it, buy 2 as before, sell and wait 18 or so month's until they go Euro.
Youll be big quids in

 

Thrush mate, if its a princely sum, spread it around a bit. Mini Cash ISA's give a good return, mine are at about 4.7% last time I checked.

You can only put £3000 in a year but it takes 2-4 weeks to get your money out.

 

matt this is the best instant access savings account ATM

http://www.alliance-leicester.co.uk/...e=online-saver

your gonna get taxed on the interest in any savings account unless as stated above its an ISA which you can only stick 3k in it.