Best savings account?

FNG said:
I opted to do a self assessment as then I have more confidence that everything is correct. This is partially because I pay into a personal pension as well as a work pension and it allows that to be taken into account. If you do not have complex accounts a self assessment is easy to fill in these days.
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Personally I'd rather leave it to them but I don't think I'll have much choice next year. Thus far in this financial year I have received 7.2k in interest, I estimate that I won't hit 10k mainly because the interest rates for the last financial year (to be paid in this financial year) were in the 3.5% region, where I can I have opted to reinvest in one year fixed savings at rates ranging from 5.85 - 6.06, those figures will push me over the 10k rate and I'll have to do self assessment. The same for my wife; all our taxable accounts are held in joint names. I've just opted to settle the amount I owe HMRC rather than them adjusting my PAYE figures.

I'm glad you find SA easy. I'm dreading it!
 
The biggest ballache in SA for me is itemising every piece of income and spending. I almost always miss a few things where i can deduct for tax...
 
Still haven’t had an interest pay out yet despite putting money in almost 2 months ago and I chose for it to be paid out monthly. That’s with the 5.08% Santander saving account.
 
Richie said:
Anyone able to recommend a Cash ISA that will allow you to make additional payments each month but also let you put a small lump sum in at the start?

I don't mind locking it away for a year (no withdrawals) but all the higher rates I can find (5%+) all seem to only allow deposit within first 60 days of opening.

Ideally I'd like.

Cash ISA
Allow initial decent deposit (say £2000)
Allow deposit monthly (upto £250 or so)
Decent rate of 5% or more.
1 or 2 year.
Not fussed if locked away/withdrawal penalties.

Being able to open and manage online is also a bonus.
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A fair few banks have regular savers.
Ideal for 250-400 a month.

I use my FD 7pc (300ppm) and lloyds 6.25pc (400ppm) to deposit 700ppm

Then, after a year spend it or put it in an isa, mortgage etc
 
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The Mrs and I are with Nationwide for our current account and we've just opened an 8% savings account, each.

Sure, you can only pay in a maximum of £200 per month, but saving up to £400 per month between us is perfect for us right now.
 
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FBi7 said:
The Mrs and I are with Nationwide for our current accout and we've just opened an 8% savings account, each.

Sure, you can only pay in a maximum of £200 per month, but saving up to £400 per month between us is perfect for us right now.
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Yeah that's a great one. I don't have a current account with them. But it's a no brainier for that spare 200ppm
 
FBi7 said:
The Mrs and I are with Nationwide for our current accout and we've just opened an 8% savings account, each.

Sure, you can only pay in a maximum of £200 per month, but saving up to £400 per month between us is perfect for us right now.
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I think I might do this too....
 
FBi7 said:
The Mrs and I are with Nationwide for our current account and we've just opened an 8% savings account, each.

Sure, you can only pay in a maximum of £200 per month, but saving up to £400 per month between us is perfect for us right now.
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8% is whopping compared to most even if the monthly pay in is low. We put 5k each in individual barclays blue saver accounts for the 5% but I'm tempted to open up a new account with nationwide for 8% :D
 
I have just switched my TSB into Nationwide for the £200 switching bonus and the 8% regular saver. Brings my monthly regular savings to £150 @ 6% + £300 @ 7% + £200 @ 8% totalling £650pm and switching bonuses to £1150.

It really does add up quick.
 
Hi I have an ISA question...

I have a variable cash ISA (tesco bank) from 2022-23 tax year , which I have not paid into this tax year.. and the rate on that has increased now to 4.9%

I have another cash ISA (santander) from this tax year, which I have paid into this year, but the rate on that seems stuck on 3.2%.

So my question is
1) Can I transfer the funds from Santander ISA to Tesco ISA at anytime ? As this pays interest annually would they pro-rata interest earn't so far and include that in the transfer
2) If I do that , can I then pay more into the Tesco ISA this tax year? I had a feeling you're only allowed to pay into one ISA per year

Thanks
 
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For anyone who’s interested Nationwide currently have a savings account which pays 8% but has afew requirements such as :

Nationwide current account.
Can only pay in a maximum of £200 a month.
Can only do 3 withdrawals.

The account is called the Flex Regular Saver.
 
Still not had a chance to sort out the premium bonds overspill. It's sitting in a current account at the moment earning nothing. Building up then will probably chuck in an ISA

There is so many products, t&C's , I just want high interest, no pentalty, I don't even mind if the money is accessible after 1-3 says like the premium bonds was , and it needs to be tax free or not a tax raper
 
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DJMK4 said:
Still not had a chance to sort out the premium bonds overspill. It's sitting in a current account at the moment earning nothing. Building up then will probably chuck in an ISA

There is so many products, t&C's , I just want high interest, no pentalty, I don't even mind if the money is accessible after 1-3 says like the premium bonds was , and it needs to be tax free or not a tax raper
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I don't know what a tax raper is but it sounds like you need an ISA cause you'd pay tax on your interest.

www.moneysavingexpert.com

Top cash ISAs 2024/25

Get tax free interest on savings of up to £20,000. Martin Lewis compares the best ISA rates in our top picks cash ISA guide to get the most from your savings.
www.moneysavingexpert.com www.moneysavingexpert.com
 
Disco_P said:
I don't know what a tax raper is but it sounds like you need an ISA cause you'd pay tax on your interest.

www.moneysavingexpert.com

Top cash ISAs 2024/25

Get tax free interest on savings of up to £20,000. Martin Lewis compares the best ISA rates in our top picks cash ISA guide to get the most from your savings.
www.moneysavingexpert.com www.moneysavingexpert.com
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Yes I'd pay interest because of my earnings

Yep but there is lot of different ISAs not sure which one to go for

Obviously I want a high % interest. Would be good if it pays interest monthly?


I'm looking to fill an ISA with 20k but I may have to dip in so don't want penalties
 
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DJMK4 said:
Yes I'd pay interest because of my earnings

Yep but there is lot of different ISAs not sure which one to go for

Obviously I want a high % interest. Would be good if it pays interest monthly?


I'm looking to fill an ISA with 20k but I may have to dip in so don't want penalties
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Note ISA 20k payin is exactly that. So if you put 20k in and then take 5 out you can't repay the 5 back in.
 
Disco_P said:
Unless it's flexible, so you can withdraw and pay in in the same tax year. Zopa one is the highest interest and flexible.
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"Flexible" is the bank's own T&C to limit withdrawals frequency.

£20k limit annual deposit is the law.

Law > T&C.

This is not about T&C, £20k is the max deposit per person in the UK for an ISA. So once he put in £20k into an ISA, he can't put in another penny until April 5th next year, whether he takes out a penny first or not.
 
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