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Savings Account
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This is what I have been told by one of the bankers
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In plain English this means, you'll earn interest on the first £2,500 of your balance each month but you won't get any interest on any part of your balance over £2,500.
Now what I want to know does that mean that if I have £10,000 I don't get interest on the £7,500 - sorry for being stupid.
More information...
In plain English this means, you'll earn interest on the first £2,500 of your balance each month but you won't get any interest on any part of your balance over £2,500.
Now what I want to know does that mean that if I have £10,000 I don't get interest on the £7,500 - sorry for being stupid.
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thanks FF - that was a shock. I do have 123 Santander account which I keep to pay bills etc. Since last year I couldn't get savings up - I decided this year to have a separate account to put £1,000 a month so naturally I am looking for the highest rate as I won't be touching it - as I say just using 123. Can you help.
Moneyexpert.com - suggested 123 and Nationwide business of only interest on 2,500 - I am hoping to have at end for this year at least £12,000. Any help is appreciated. Thanks FF
Moneyexpert.com - suggested 123 and Nationwide business of only interest on 2,500 - I am hoping to have at end for this year at least £12,000. Any help is appreciated. Thanks FF
this is what a I mean - don't know where to go.
on the 123 my savings abysmally and so I sorta wanted to separate the £10000 - I was scammed by gypsies last year and I sorta never got over it. Then the oul neices and nephews have to be helped.
JackDaw what would make you comfortable in having savings in your bank.
I am sorta want to leaving kiddies some money when I go
on the 123 my savings abysmally and so I sorta wanted to separate the £10000 - I was scammed by gypsies last year and I sorta never got over it. Then the oul neices and nephews have to be helped.
JackDaw what would make you comfortable in having savings in your bank.
I am sorta want to leaving kiddies some money when I go
The Santander 123 account pays 1.5%(cut from 3% recently) per month on balances up to £20,000. This interest rate is better than any instant savings account you will find. Stay with it until you reach a balance of £20,000 then look elsewhere for any extra money you have. You will struggle to get more than 1% at present anywhere else.
The Santander123 account also has a monthly fee of £5 a month.
Jenny- I'm not sure whether £22000 is the figure you meant to type.
Tesco pays 3% on its current account but only up to £3000, although oddly you can open more than one.
If you have a Santander did you open the linked 5% regular saver account- you can pay in £200 a month I think.
There are other regular savers that pay 2-3% but they are usually capped at around £250 a month.
To make money from savings you need to spread it around among the best deals- and that can be a pain to manage as they all need passwords and have different end dates and payment/withdrawal rules. At least having most or all at 1.5% in Santander is easier to manage
Jenny- I'm not sure whether £22000 is the figure you meant to type.
Tesco pays 3% on its current account but only up to £3000, although oddly you can open more than one.
If you have a Santander did you open the linked 5% regular saver account- you can pay in £200 a month I think.
There are other regular savers that pay 2-3% but they are usually capped at around £250 a month.
To make money from savings you need to spread it around among the best deals- and that can be a pain to manage as they all need passwords and have different end dates and payment/withdrawal rules. At least having most or all at 1.5% in Santander is easier to manage
