Where have all the good savings accounts gone ?
Alliance & Leicester offer a 6% current account on balances up to £2500 with a minimum £500 deposit each month which can come from anywhere and be transferred straight back out.
There is a £100 cashback if you wish to completely switch current account from current provider and also there is a £50 refer a friend scheme (£25 each) which I have used and is a great little earner. Once an account is opened via a referal you can refer your partner and gain a total £75 plus 6% interest on £5k. Then refer friends...
Sun, 14/02/2010 - 19:04
- Login or register to post comments
- report as spam
HSBC still pays the highest interest rates around here. I am in the USA though.
Thu, 11/03/2010 - 05:50
- Login or register to post comments
- report as spam
Editor's Picks
Vote now on our poll
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 5% bonus 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). Another account that pays a high rate of interest on exactly £1,000 is the Halifax Reward CURRENT account, which pays £5 REWARD per month if you pay in £1,000 per month - again, in & out on the same day is good enough.