Short term savings
Short term savings
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Discussion

RizzoTheRat

Original Poster:

29,043 posts

222 months

Friday 7th March 2014
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Thinking of moving house in the next year or two, so don't want to tie my money up in anything long term, however interest rates are obviously very low at the moment, and I'm wondering if anyone has any ideas for short term or easy access accounts that can beat Santander's 3% for the first £20k? I can't even find an ISA that'll beat that after I've paid tax on it!

Condi

20,487 posts

201 months

Friday 7th March 2014
quotequote all
Surely you dont pay tax on an ISA?

Stocks and shares can be high risk, high reward if you want them to be.

bugmenot

129 posts

163 months

Friday 7th March 2014
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With Lloyds Bank/Bank of Scotland/TSB you can add Vantage/Enhance and earn up to 3% on £15,000 at each bank. Each of those 3 banks pay interest of balances of up to £5000. But they each let you have 3 accounts and you will have to cycle money around.

The Halifax Reward Account pays £5 per month - you need direct debits and have to pay in £750 per month - but there's nothing stopping you from taking that £750 straight back out and into your normal bank account.

Clydesdale Bank and Yorkshire bank are paying 4% interest on balances up to £3000 up until March 2015 with their Current Account Direct accounts.

The Nationwide FlexDirect account is paying 5% interest on balances up to £2500 for 12 months from when the account is opened.

RizzoTheRat

Original Poster:

29,043 posts

222 months

Saturday 8th March 2014
quotequote all
Cheers Bugmenot, A few there I'd no seen, I'll take a look.

Condi, I meant 3% in a bank account I'm paying tax on still works out better than I can find in an ISA

harveys

204 posts

154 months

Saturday 8th March 2014
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You're allowed two Santander 123 current accounts...

RizzoTheRat

Original Poster:

29,043 posts

222 months

Saturday 8th March 2014
quotequote all
Yeah, current plan is to get the wife to open a 123 as she's in a lower tax bracket, but there a couple of options above that give better interest, but only on smaller amounts.