Saving Account Advice

[GrandOldTeam]

Can anyone suggest one?

Just for putting every spare penny in to save for deposit?

Just looking at the tax rate;

Tax on bank and building society accounts : Directgov - Money, tax and benefits

savings income that falls within the £2,440 starting rate for savings Income Tax band is taxed at 10 per cent - though in most cases it's likely to be above this limit, as it's added to your other income
savings income that rises above the £2,440 starting rate for savings Income Tax band, but falls within the £37,400 basic rate Income Tax band, is taxed at 20 per cent

All new to me this. Am thinking stick it in the other halfs account for the next two years (shes at Uni), and then drawing it all out and sticking it under the mattress...

 

[heatmeiser]

Swiss bank accounts

 

[Bruce Wayne]

You can put it in an ISA and the interest is tax free. You can put in £3,000 or so per year.

 

[bluebastardo]

Top 10 Savings Accounts UK - Best High Interest Account

Many savings accounts and indeed Isa's are wolves in sheeps clothing regarding interest . Best to research your options m8 . The above site isn't my recommendation , but simply one of many .

 

[GrandOldTeam]

Cheers blue.

You can put it in an ISA and the interest is tax free. You can put in £3,000 or so per year.

Did have a quick nose at them and to be honest, I think thats what am going to go for.

 

[Goat]

Me and my missus just use her bank accounts, 1 for bills and we put some money away each month into her ISA.

She is with the Halifax. I tried to open an account myself not long ago and it blew my head off, so sticking with the current method for now.

Im with the Abbey, but I never use it, crappy account wouldnt let me do direct debits.

Ive also got an ISA with the Halifax, but thats not my money, its a proper tax dodge for somebody else.

 

[Bruce Wayne]

Depends also on your plans for the money, ie how readily available you need it.

 

[heatmeiser]

I'm not allowed a bank account.

I'm off the grid.

If I were on the grid though, I would get a Halifax ISA, they seem quite nice.

 

[Goat]

Depends also on your plans for the money, ie how readily available you need it.

Well because the ISA is Halifax and the bank account is, I can do instant transfers online. But then you can only get £300 a day out the cash machine, banks are so anal.

 

[Bruce Wayne]

I was thinking more of investing it, putting it in bonds etc. that pay a higher return but you have less control over your money.

 

[ChicagoToffee]

Impressed to see that GOT is a full service forum. Not just EFC banter and some fit birds threads.

 

[GrandOldTeam]

I was thinking more of investing it, putting it in bonds etc. that pay a higher return but you have less control over your money.

Exactly what am looking for. Would be ideal to be able to have an emergency dip because you never know what can happen in life - but not essential. Some have limits of say, 4 withdrawals a year.

Impressed to see that GOT is a full service forum. Not just EFC banter and some fit birds threads.

This forum gets me through difficulties in life...

 

[Bruce Wayne]

You might find something like Zopa worth exploring. You essentially loan money to people. You get a good return on your money and obviously get repayments throughout the term so you're not losing the entire lumpsum for the duration.

 

[Reidy's Bottle Of Grecian]

pork bellies

 

[heatmeiser]

Orange Juice