Best savings account?

Am I best waiting till Jan at this point?

Still got ~20k I wanna stick into an instant saver. I assume these don't track, it's not outwardly clear on their sites. I was gonna chuck it into a 2.55% AER / 2.52% Gross with Atom but 2.7+ would be nicer. I'm looking for as simple as possible really.

Its difficult. You often don't want to jump on in the peak. As rates usually come down. Because banks also know its the peak.

Now to q1 2023 is probably the best time for long multi year fixes. Probably even 1 year fixes.
 
Noob question here.

I'm assuming with cash isas that are fixed for a year theres no funding window like bonds?

By that I mean you can add funds any time?

(I understand the restrictions on withdrawals that each lender sets out)
 
Holy hell, I've learnt today that any cash held in a Vanguard SIPP or ISA is paid interest at BoE base rate minus 0.25% - that beats almost any high street savers at the moment. I've just checked my SIPP and its indeed paying out interest monthly (I sold up and moved my private SIPP to cash earlier this year when I lost faith in the stock market, and rightfully so it seems - my employer pension is still invested though).
 
Holy hell, I've learnt today that any cash held in a Vanguard SIPP or ISA is paid interest at BoE base rate minus 0.25% - that beats almost any high street savers at the moment. I've just checked my SIPP and its indeed paying out interest monthly (I sold up and moved my private SIPP to cash earlier this year when I lost faith in the stock market, and rightfully so it seems - my employer pension is still invested though).
I'm doing this at the moment. 3% in Moneybox S&S held as cash.
 
I've got a certain amount of money in a Barclays Everyday Savers account where the interest is very low, about 0.25%. With interest rates going up to 3%, I'm wasting my time keeping my money with Barclays. Can anyone recommend a better place to accumulate more interest?
i had the same account with barclays (actually still have it now but almost empty)...................... personally i recently opened a fixed isa with leeds building society, 5 years fixed, moved a few old isas into it and maxed out this years allowance.... iirc its around 4.5% interest give or take.

also have the full 20k in a santander 1,2,3 account.
 
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You don't get all the interest from Vanguard though.

"Will I receive interest on cash held in my Stocks and Shares ISA or General Account?
Cash balances held within your account earn interest at a variable rate, based on the rate we receive from the bank.
We do not charge a service fee for holding your cash. Instead we currently keep up to 0.20% of any interest we receive on cash held in your account, to cover our costs of administering it."
 
i had the same account with barclays (actually still have it now but almost empty)...................... personally i recently opened a fixed isa with leeds building society, 5 years fixed, moved a few old isas into it and maxed out this years allowance.... iirc its around 4.5% interest give or take.

also have the full 20k in a santander 1,2,3 account.

I still haven't moved my money out of the Barclays Everyday Savers account and really should do it now. That Leeds fixed ISA sounds good. However, I've just checked their website and it says cash ISA is 3.65% for 1 year, 3.90% for 2 years and 3.95% for 3 years. Though I see Raymond Lin moved his money into a Barclays 1 year fixed ISA at 4%. Since I'm with Barclays, maybe it's easier to just use my app and transfer into that?

Barclays have their Blue rewards account now, with a rainy day saver that pays 5% on 5K

I was considering that. I didn't want to pay £5 per month for that Blue Rewards account in order to open the Rainy Day Saver, but Raymond mentioned that the fee is returned if you have a couple of Barclays direct debits set up, which I do. But the problem is I want to put £10K in and it only allows £5K.

My maths isn't great but would I be better off putting all £10K into a fixed 4% Barclays ISA, or splitting the money between the 4% fixed ISA and 5% Rainy Day Saver?
 
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I was considering that. I didn't want to pay £5 per month for that Blue Rewards account in order to open the Rainy Day Saver, but Raymond mentioned that the fee is returned if you have a couple of Barclays direct debits set up, which I do. But the problem is I want to put £10K in and it only allows £5K.

My maths isn't great but would I be better off putting all £10K into a fixed 4% Barclays ISA, or splitting the money between the 4% fixed ISA and 5% Rainy Day Saver?

At the basic level then splitting it will give you more interest overall by £50. The main thing you'd need to take into account for your circumstances is the ISA is tax free interest whereas the Saver account is taxable, and wether you'd go over your £1000 interest allowance (or £500 allowance if a high rate tax payer)
 
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I still haven't moved my money out of the Barclays Everyday Savers account and really should do it now. That Leeds fixed ISA sounds good. However, I've just checked their website and it says cash ISA is 3.65% for 1 year, 3.90% for 2 years and 3.95% for 3 years. Though I see Raymond Lin moved his money into a Barclays 1 year fixed ISA at 4%. Since I'm with Barclays, maybe it's easier to just use my app and transfer into that?



I was considering that. I didn't want to pay £5 per month for that Blue Rewards account in order to open the Rainy Day Saver, but Raymond mentioned that the fee is returned if you have a couple of Barclays direct debits set up, which I do. But the problem is I want to put £10K in and it only allows £5K.

My maths isn't great but would I be better off putting all £10K into a fixed 4% Barclays ISA, or splitting the money between the 4% fixed ISA and 5% Rainy Day Saver?
£50 a year better off to split it, assuming you're getting the £5 monthly fee knocked off also ignoring any tax benefits from the ISA.
 
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I still haven't moved my money out of the Barclays Everyday Savers account and really should do it now. That Leeds fixed ISA sounds good. However, I've just checked their website and it says cash ISA is 3.65% for 1 year, 3.90% for 2 years and 3.95% for 3 years. Though I see Raymond Lin moved his money into a Barclays 1 year fixed ISA at 4%. Since I'm with Barclays, maybe it's easier to just use my app and transfer into that?
that sucks, they must have cut it. i am on issue 144 and just checked its 4.31% for me

its a gamble anyway, if interest rates keep going up i could regret it being locked out for so long................... i just have a feeling they will level off soon (but my feelings when it comes to money usually are wrong)

that kroo account mentioned above i am really tempted with
 
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At the basic level then splitting it will give you more interest overall by £50. The main thing you'd need to take into account for your circumstances is the ISA is tax free interest whereas the Saver account is taxable, and wether you'd go over your £1000 interest allowance (or £500 allowance if a high rate tax payer)
£50 a year better off to split it, assuming you're getting the £5 monthly fee knocked off also ignoring any tax benefits from the ISA.
Thanks guys. Hmm, well I probably won't need to withdraw any interest allowance. Are you saying that going with just the tax free ISA might save me more money than getting the £50 extra by splitting it? I think I'd better have a chat with Barclays tomorrow, ask them some questions and then make a decision.
 
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that sucks, they must have cut it. i am on issue 144 and just checked its 4.31% for me

its a gamble anyway, if interest rates keep going up i could regret it being locked out for so long................... i just have a feeling they will level off soon (but my feelings when it comes to money usually are wrong)

that kroo account mentioned above i am really tempted with
Oh I didn't see issue 144, whatever that is, but that's a good rate. Still, I'm lazy and since I'm already with Barclays who are offering 4%, that's good enough for me right now.
 
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Thanks guys. Hmm, well I probably won't need to withdraw any interest allowance. Are you saying that going with just the tax free ISA might save me more money than getting the £50 extra by splitting it?
Probably not unless you've got a lot more money making interest somewhere as you've got £1k/£500 allowance before paying tax on interest as Freakbro says.
 
Probably not unless you've got a lot more money making interest somewhere as you've got £1k/£500 allowance before paying tax on interest as Freakbro says.
Ah, I see, thanks. Sorry, I misunderstood what Freakbro said about interest allowance. Right then, I'll check with Barclays tomorrow that I'd be eligible to get a Blue Reward account fee back, open a Blue Reward account, then open a Rainy Day Saver account and the fixed ISA account.
 
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