Best savings account?

DJMK4 said:
Hi all. I'm a higher rate tax payer. On my zopa account I have my ISA which is On its second year maxed .my premium bonds is maxed..

I have the normal savings account with zopa (non ISA). Which has £15k in and shows about £117 interest earned.

As far as I'm aware when it hits £500 interest earned. This is when I start paying tax I believe which is what I want to avoid. As I don't know how much tax it will be and how it is paid ?

I guess I'd have to shift money out of this savings account to something else just before £500 interest earned ? I also assume the counter resets in April?
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You do self assessment, as for how much, google a calculator for this.

Put it into EQQQ the dividend yield is around 0.5% so you need to have above around 100k before you need to think about paying tax on it.
 
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Opened up a new 1 year Triple Access ISA with Nationwide and transferred the money into it... £10k to be used as the "6 month Emergency Fund" Its at 4.1%. I have been trying to get this level for some time now but life gets in the way as it has a tendency to :o

There are some slightly better rates out there but not by much really (I might make another £70 for the year)

Contemplating opening their 12 month 6.5% regular saver but, TBH, I am looking at starting to overpay the mortgage instead.
 
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Richie said:
Opened up a new 1 year Triple Access ISA with Nationwide and transferred the money into it... £10k to be used as the "6 month Emergency Fund" Its at 4.1%. I have been trying to get this level for some time now but life gets in the way as it has a tendency to :o

There are some slightly better rates out there but not by much really (I might make another £70 for the year)

Contemplating opening their 12 month 6.5% regular saver but, TBH, I am looking at starting to overpay the mortgage instead.
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What's your mortgage rate?
 
Richie said:
3.41%

The 6.5% makes about £80 over the year as it's restricted to £200/month max. The ISA amount is not to be touched as it's the 6 month emergency fund.
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I am in a similar situation @ 4.6% though. Regular saver/ISA still my favourite as it means the cash is available should something go really wrong. Mega discipline though!
 
I also like the regular savers it's the spending money I use for the next year's luxury spends.

And yeah, should have an issue like boiler blowing it's accessible, penalty free

At 400 a month or builds up quickly to usable level
 
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