What deposit a/c?

[Simpo Two]

I keep a chunk in cash and the interest rate on it has just dropped to 0.69%. Who's paying the most interest for a sizeable deposit please? Just want to plop in there and keep it for a rainy day. No monthly payments, no DDs.

[Lotusevoraboy]

Santander 1, 2, 3 account is paying 3% upto £20,000, think it has a £2 monthly fee though, but that is more than made up for by the interest. They also give cash back on council tax, mortgages with them, utility bills etc. We are getting about £60 a month out of them!

[Simpo Two]

Lotusevoraboy said:

Santander 1, 2, 3 account is paying 3% upto £20,000, think it has a £2 monthly fee though, but that is more than made up for by the interest. They also give cash back on council tax, mortgages with them, utility bills etc. We are getting about £60 a month out of them!

Did I see in another thread that you have to pay money in each month and have 2 DDs? What's the over £20K return?

[vescaegg]

Simpo Two said:

Did I see in another thread that you have to pay money in each month and have 2 DDs? What's the over £20K return?

http://www.santander-products.co.uk/banking/media/123.html?urlgen=y&exp=60&cm_mmc=sanmsupm-_-ptr-_-ec000000000001123CA-_-mse

Correct - Its minimum £500 into the account each month and two direct debits.

I plan to open a few (one for me, one for missus and a joint - which is allowed ive been told) in the next few weeks to maximise the interest. It works out something like £2k a year!

Aparently no interest is earned over £20k though. Still not a bad deal though.

Edited by vescaegg on Wednesday 28th August 10:55

[Simpo Two]

Thanks - though I'm just looking for a place to put money on deposit without strings.

I looked at Santander a year or two ago and by the time you'd jumped through all the hoops it wasn't worth the effort. It really seemed like a fancy current account, and I have a perfecty good one of those already

[Newc]

http://moneyfacts.co.uk/savings/best-savings-rates...

[Simpo Two]

They don't seem to go up to £80K...

[Newc]

Simpo Two said:

They don't seem to go up to £80K...

Is that wrt the moneyfacts site ? If so, don't understand your point. Moneyfacts just lists current rates for various account structures. They don't have minimum and maximum amounts themselves - you have to read the T+Cs for each listed account. So their highest rate 12 mth deposit account shows 2.03% pre-tax with a maximum investment of GBP 1m, at the Britannia.

Mind you at those rates you'd be better off considering Zopa.

[Simpo Two]

Thanks, it was only that I'd hoped the amount would attract a greater rate than £2,000 would. I'll look into Brittania