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Personal Savings Account?

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For you guys that have a personal savings account, what one would you recommend and why? Also, what one would you say is a 'no-go'?

AnnaAddams
1 month ago
What do you think of this?
dawarwick
dawarwick1 month ago

It really does depend on what you want AnnaAddams. Easy Access/Fixed Term/Notice Account/Online/Branch. Anything you need to know just ask

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Mango4
Mango41 month ago

Tricky for anyone to actually advise on this thou as everyone is different and it depends on your needs requirements really, but I don't think any are really worth having at the moment as interest rates are so low, however if you have savings you have to put it some where and one of the best paying straight forward instant access account is with Marcus Bank 1.05% at the moment.

Whatever you choose make sure its part of the Financial Services Compensation Scheme (FSCS) as your money is then protected up to £85000 should that bank or financial institution go bust.

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MeestairChrees
MeestairChrees1 month ago

The best ones tend to be regular savers offered by some banks. You'll likely need a current account with them too. You're only allowed to put in a certain amount a month (maybe £200/300) but the interest rate is normally much higher than other savings accounts offered by the same bank. I think saving rates have gone down a bit recently, sadly, but they're still better than others.

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MeestairChrees
MeestairChrees1 month ago

So, check your current bank to see if they have one and if you want it. If not (and even if so) consider switching to another bank (you may get a lump sum reward for switching too) to get access to a regular saver.

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rararachel
rararachel1 month ago

I've just had a fixed year saving with Atom mature. It's the second time I've used them (it was 1.99% fixed for a year). It is an app based savings and I've been pleased with them. If you check out moneysavingexpert they will have some good suggestions though interest rates for savers are pretty poor.

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loveglitches
loveglitches1 month ago

Had many before. It found best one with Halifax , obviously the % dropped recently but otherwise was great for me 🙂 loads are very low now as of pandemic but depends how much you have

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MsLamboLova12
MsLamboLova121 month ago

Of course it depends on each and everyones needs etc but i know Natwest provides 1% on a regular savings account where the account grows by at-least £50 a month and up to £10,000 balance.. which is the highest % Ive seen in retail banks, but if anyone knows something higher please let me know!

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Grannyclock
Grannyclock1 month ago

NS&I have reversed their decision to reduce rates so have some reasonable accounts. Perhaps worth a look.

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RegularComper90
RegularComper901 month ago

It all depends on what exactly you are saving up for. For me, I use a standard cash ISA which I use for saving up money for a rainy day.

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Pjran
Pjran1 month ago

If you haven’t got your own home the Help to Buy scheme is a great idea run by the government.

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