Help protect children from gaming harms.

Take our survey

Please or to access all these features

AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

To not know how to get interest on savings

28 replies

PeteKnew · 27/07/2026 22:10

I've saved up £25,000.
It's been sitting in my current account past 6 years.
Can I get any interest on it?
If so, what sort of account should I put it in? And how much interest can I expect to get? Do you have to wait 12 months before you get any interest?
I know nothing. Never had savings before.
Currently with Barclays.
Thank you to anyone who can advise.

OP posts:
MojoMoon · 28/07/2026 23:03

latetothefisting · 28/07/2026 12:34

how many 6% isas were there 6 years ago?
You can't even find that now when the BoE base rate is 3.75, six years ago it was 0.1%!

Not a cash ISA

A stocks and shares ISA

Average return over last 15 years is 6.79% for a UK stocks and shares ISA
https://moneyfactsgroup.co.uk/media-centre/consumer/stocks-shares-isas-outperform-cash-by-over-100/

Average UK stocks and shares ISA has risen by over 8% over the last six years so the OP has actually missed out by even more that I said.

Yes, there will be some bad years but if you are holding savings for a reasonable length of time (eg a few years) stocks and shares have always outperformed cash.

Stocks & Shares ISAs outperform cash by over £100

As the long-term gap between Stocks & Shares and Cash ISAs widens, investors could be better off while cash savers see slower growth. Moneyfactscompare.co.uk analysis can reveal.

https://moneyfactsgroup.co.uk/media-centre/consumer/stocks-shares-isas-outperform-cash-by-over-100

latetothefisting · 29/07/2026 13:42

MojoMoon · 28/07/2026 23:03

Not a cash ISA

A stocks and shares ISA

Average return over last 15 years is 6.79% for a UK stocks and shares ISA
https://moneyfactsgroup.co.uk/media-centre/consumer/stocks-shares-isas-outperform-cash-by-over-100/

Average UK stocks and shares ISA has risen by over 8% over the last six years so the OP has actually missed out by even more that I said.

Yes, there will be some bad years but if you are holding savings for a reasonable length of time (eg a few years) stocks and shares have always outperformed cash.

  1. You didn't say s&s, people aren't psychic.
  2. You can't say WOULD have worked out and they ALWAYS outperform cash - it MIGHT have worked out if she picked the right s&s. She could have lost money.

Given you literally acknowledge OP isn't coming from a position of strong knowledge and confidence about money, I don't think it's responsible to assure her that she absolutely would have had an extra £8k when the whole USP of S&S is that they are both (generally) higher return, but for higher risk.

MojoMoon · 30/07/2026 00:28

latetothefisting · 29/07/2026 13:42

  1. You didn't say s&s, people aren't psychic.
  2. You can't say WOULD have worked out and they ALWAYS outperform cash - it MIGHT have worked out if she picked the right s&s. She could have lost money.

Given you literally acknowledge OP isn't coming from a position of strong knowledge and confidence about money, I don't think it's responsible to assure her that she absolutely would have had an extra £8k when the whole USP of S&S is that they are both (generally) higher return, but for higher risk.

Implied by the fact I suggested that the vast majority should be put into a stocks and shares ISA though?

Ok, cannot say a simple FTSE tracker stocks and shares ISA definitely would have outperformed cash over an long investment period but 95pc chance that it would have.
https://www.thisismoney.co.uk/money/diyinvesting/article-3452668/A-10-year-investment-FTSE-100-95-success-rate-past-two-decades.html

New posts on this thread. Refresh page