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Savings Accounts

Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
in Home, Law & Money
Recommend me a good one that I can't access without a lot of faff, please.

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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Just a google because mine is easy access (ooo er)

    http://www.moneysupermarket.com/savings/notice-accounts/

    and because i adore this site anyway:

    http://www.moneysavingexpert.com/banking/
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    One you can't access without a lot of faff? You want an ISA, preferably one with a big fat withdrawal penalty.

    However there's precious little point in saving if you're still in debt. The savings rates are low and the borrowing rates are high. Pay down your debt first. You can do this easily by cancelling your credit/store cards- your available balance changes to nil and you just pay down the balance, so you can't spend what you pay off.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Arctic Roll wrote: »
    One you can't access without a lot of faff? You want an ISA, preferably one with a big fat withdrawal penalty.

    However there's precious little point in saving if you're still in debt. The savings rates are low and the borrowing rates are high. Pay down your debt first. You can do this easily by cancelling your credit/store cards- your available balance changes to nil and you just pay down the balance, so you can't spend what you pay off.

    I did that already ;)
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    I agree, it's worth getting an ISA anyway and then you can think about another savings account when you hit the £5,000 limit.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    piccolo wrote: »
    I agree, it's worth getting an ISA anyway and then you can think about another savings account when you hit the £5,000 limit.

    I do have an ISA but I've found that it's very easy for me to just ring them up and get money out of it, because it goes into my current account when I do that rather than my mum's (she closed the account it was linked to and doesn't know her account details :yeees:).
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    You can set up withdrawal penalties on ISAs if you don't trust yourself, so whatever you take out will cost you a lot of money. We had one set up on our ISA.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Regular savings accounts. You can deposit £50-250 a month and you get penalised for taking money out or not depositing in a month. Some have interest rates up to 8% so they are really worth it at the moment.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    I would browse through these websites as Skakitty suggests as you can search for accounts according to your personal fianancial situation.
    skakitty wrote: »
    Just a google because mine is easy access (ooo er)

    http://www.moneysupermarket.com/savings/notice-accounts/

    and because i adore this site anyway:

    http://www.moneysavingexpert.com/banking/

    :)
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