Lump sum to put away for a few months - highest interest?

[535dman]

In the middle of a house move at the moment - could be 3-6 months before I find a house to move to so looking for a no tie in savings account with a good rate? - and no I'm not getting that supercar I always wanted with the dosh

Have searched and found IceSace and ICICI Bank circa 6.30% - anyone saving with these people? I'm with ING Direct at the moment but it's only 4.75%

Edited by 535dman on Friday 17th August 23:47

[g4ry13]

I closed my ING account and moved to ICICI. Not long enough to say how good they are, but I opened my account pretty quickly (1 week from start to finish) and just transferred my money over on thursday so i'll see how it goes. I wasn't too impressed with their phone support (you'll see if you give them a call) but hopefully they'll be alright and they're FSA registered.

Edited by g4ry13 on Saturday 18th August 19:22

[laz11]

I'm with Icesave and have been for about six months...very pleased...the rate has been going up in line with interest rate rises and still seems to be one of the best rates out there for flexible and accesible saving accounts

[Wacky Racer]

Around 5.7-6.0% gross is probably the best you are going to get with an internet savings account.

The Yorkshire building society is quite good and easy to open.......

[535dman]

Went with IceSave in the end - heard quite a lot of negatives with ICICI Bank and the worst bit is that they aint signed up to the banking code

[NorthernBoy]

535dman said:

Went with IceSave in the end - heard quite a lot of negatives with ICICI Bank and the worst bit is that they aint signed up to the banking code

You would not find me putting anything important with them, that's for sure.

Better to go with egg, for example, who are part of Citi. A small amount less interest, but a hell of a lot less risk.

[g4ry13]

535dman said:

Went with IceSave in the end - heard quite a lot of negatives with ICICI Bank and the worst bit is that they aint signed up to the banking code

That was one of the things that bothered me, they're FSA registered and it has all the standard guarantees of returning 100% for the first £2000 and 90% of the next £33,000. But the telephone service didn't instill me with confidence either. Think I may just be cautious on this one and take my money out.

[trunnie]

My experience is the inverse - deeply unimpressed by Icesave and impressed by ICICI. ICICI are covered by both the compensation scheme mentioned AND the Financial Ombudsman scheme (who adjudicates matters according to the Banking Code). In terms of financial backing ICICI is clearly part of a bigger group than ICESAVE if that is an issue.

[Robin Hood]

Wacky Racer said:

Around 5.7-6.0% gross is probably the best you are going to get with an internet savings account.

The Yorkshire building society is quite good and easy to open.......

Sainsburys Bank internet savings account = 6.25%

http://www.sainsburysbank.co.uk/savings/sav_intern...

[535dman]

Sainsburys bank is quite good but it only pays yearly interest - Icesave and ICICI bank pay it monthly.

[AndyAudi]

I'm using Halifax/Bank of Scotland,

http://www.bankofscotlandhalifax.co.uk/savings/per...

[hazzaboy69]

Alliance and leicester do a 6.30% online saver with monthly interest I think you can put in upto a million £.

[Nightmare]

If you have a million I can offer you 8.5% on the sum for a 2 month loan.....bridging finance thing...but cant be bothered to chop it into smaller chunks than that

[JamieBeeston]

Nightmare said:

If you have a million I can offer you 8.5% on the sum for a 2 month loan.....bridging finance thing...but cant be bothered to chop it into smaller chunks than that

8.5% on the balance? or 8.5% apr over 2 months?
what risk profile? - will you secure it on some asset (staff permitted!)?



J

[Nightmare]

JamieBeeston said:

Nightmare said:

If you have a million I can offer you 8.5% on the sum for a 2 month loan.....bridging finance thing...but cant be bothered to chop it into smaller chunks than that

8.5% on the balance? or 8.5% apr over 2 months?
what risk profile? - will you secure it on some asset (staff permitted!)?



J

will send you the details tomorrow mate risk profile is ironclad (it's a total loan of 4mil on 7mil of secured property)...

[simbax]

I have a Direct Saver account with Alliance and Leicester. Good rate, montly interest and instant access

[535dman]

Nightmare said:

If you have a million I can offer you 8.5% on the sum for a 2 month loan.....bridging finance thing...but cant be bothered to chop it into smaller chunks than that

If I had a Million squids I'd not be in the middle of a house move but would be buying my dream house outright with my cash!