Nowadays, most higher interest SAVINGS accounts are those classed as "Regular Saver" or "Monthly Saver" accounts and most run for 12 months from date of opening. One example is the West Bromwich Birthday Bonus 160 which pays a basic (variable) rate of 1% and a bonus rate of 5% for one year, making 6% gross. Its T & C are not onerous - pay in variable amounts each month between £20 and £600 and I think just 1 withdrawal allowed before maturity. Leeds B/S pays 5%, Norwich & Peterborough pays 5% and there are several others.
One alternative, if you have a large sum to invest but need instant access, is Lloyds TSB Vantage CURRENT account - it pays 4% gross on balances between £5,000 and £7,000 (0.1% on any money over £7,000) and you are allowed to open up to 3 accounts, which gives you a home for £21,000. The only condition is that you credit a minimum of £1,000 per month to each account (moving it in and out on the same day is good enough). Halifax pays £5 REWARD per month if you pay in £1,000 per month - again, in & out on the same day is good enough.
Nowadays, most higher interest SAVINGS accounts are those classed as "Regular Saver" or "Monthly Saver" accounts and most run for 12 months from date of opening. One example is the West Bromwich Birthday Bonus 160 which pays a basic (variable) rate of 1% and a bonus rate of 5% for one year, making 6% gross. Its T & C are not onerous - pay in variable amounts each month between £20 and £600 and I think just 1 withdrawal allowed before maturity. Leeds B/S pays 5%, Norwich & Peterborough pays 5% and there are several others.
One alternative, if you have a large sum to invest but need instant access, is Lloyds TSB Vantage CURRENT account - it pays 4% gross on balances between £5,000 and £7,000 (0.1% on any money over £7,000) and you are allowed to open up to 3 accounts, which gives you a home for £21,000. The only condition is that you credit a minimum of £1,000 per month to each account (moving it in and out on the same day is good enough). Halifax pays £5 REWARD per month if you pay in £1,000 per month - again, in & out on the same day is good enough.