Short term savings
Discussion
My ISA has now fallen below my mortgage rate, but I might move house this year so don't really want to pay of the mortgage and then have to get another one at a higher rate, or put money in long term savings bonds.
Do banks tend to put out new ISAs to tempt people in at the end of the year, or are there often some good offerings in April/May after the rush has died down and they have to make better offers to get people in? ie are we likely to see any better offerings that what's there now?
Best I can find on an ISA I can transfer in to now is 1.35%, or 1.4% if I start a new one without transferring.
The new personal savings allowance means a Santander 123 maxed out is actually earning 2.7%. Do Santander let you have multiple 123 accounts? After tax and the £5/month fee I make having a second one to be 1.5%, but would mean setting up bank transfers to ensure enough is paid in to it every month.
Would the interest on a joint account be taxed half and half between me and the wife?
What other easyish access options should I be considering?
Do banks tend to put out new ISAs to tempt people in at the end of the year, or are there often some good offerings in April/May after the rush has died down and they have to make better offers to get people in? ie are we likely to see any better offerings that what's there now?
Best I can find on an ISA I can transfer in to now is 1.35%, or 1.4% if I start a new one without transferring.
The new personal savings allowance means a Santander 123 maxed out is actually earning 2.7%. Do Santander let you have multiple 123 accounts? After tax and the £5/month fee I make having a second one to be 1.5%, but would mean setting up bank transfers to ensure enough is paid in to it every month.
Would the interest on a joint account be taxed half and half between me and the wife?
What other easyish access options should I be considering?
TBH I think we're all screwed on cash savings. It's astounding that after 8 years of "zero base rate" policy the interest rates offered to retail savers are still going DOWN!
I tend to look at Moneyfacts for savings rates and there's nothing significantly above 1% at the moment.
http://moneyfacts.co.uk/savings/best-savings-rates...
Having had a lengthy wait to recover my money from Iceland I now stick to UK banks, irrespective of the government guarantee of foreigners operating in UK.
I tend to look at Moneyfacts for savings rates and there's nothing significantly above 1% at the moment.
http://moneyfacts.co.uk/savings/best-savings-rates...
Having had a lengthy wait to recover my money from Iceland I now stick to UK banks, irrespective of the government guarantee of foreigners operating in UK.
RizzoTheRat said:
The new personal savings allowance means a Santander 123 maxed out is actually earning 2.7%. Do Santander let you have multiple 123 accounts? After tax and the £5/month fee I make having a second one to be 1.5%, but would mean setting up bank transfers to ensure enough is paid in to it every month.
Would the interest on a joint account be taxed half and half between me and the wife?
What other easyish access options should I be considering?
My wife and I have one each and we have been told we could have a third joint account.All three would earn the same interest but of course all three would have to be funded with £500 a month,have at least two DD`s each,and £5 a month fee each.Would the interest on a joint account be taxed half and half between me and the wife?
What other easyish access options should I be considering?
Gassing Station | Finance | Top of Page | What's New | My Stuff