Best savings accounts - have £8000 to put in

[TheGander]

I have taken £8000 out of a hopeless cash ISA with the Halifax (0.45%). I need an account where I can put the money in in one go ( no monthly payments) I’d prefer it to be long term but 1 year would be OK too. Any recommendations? I’m not looking for anything exposed to the market, I already have a Vanguard life strategy and have seen the losses recently. Thanks in advance.

Leeds BS have 3.4% 1 year isa

I put mine in premium bonds. I win £25 regularly and recently won £15much better return than a savings account

That should,have said recently won £150

How much did u put in @Dodie66 , I put £5k early this year and zilch so far.

I started off with £5000 and have gradually built it up to £30000. My daughter has £17000 and has regular wins too

thank u @Dodie66

Best fixed ISA rate ATM is Virgin Money 3 year at 4.35%. I'm tempted to put money into it but waiting to see if better rates offered elsewhere. If anyone has an economic back ground and can advise whether to save now or wait for rates to improve further, please let us know!!!

I'm debating fixed or variable as I am expecting rates to rise further. I'm going to transfer my equally hopeless Isas this week. I'll prob fix half for a year, half for longer.

I am waiting, rates will go up again on 3rd November. Inflation is also likely to increase further if BJ gets in and the £ devalues further. There are a few instant access accounts in the meantime with not bad rates - santander 2.75% instant access. If you don't want to wait the best 1 year fixed isa is shawbrook at 3.9%

I have an online only account with Atom, their fixed 5 year is nearly 5%

Yes, doing the same as this currently.

Aviva are offering over 4% on a 2 year account. Am thinking about that.

Tesco bank are doing 4.7% for 2 year fixed.

But interest rates are likely to go up again on 3rd November, for the sake of a couple of weeks it's worth waiting for any new increases

I use Atom as well; they’ve routinely increased their rates as Base Rate has gone up, which is good.

OP do you have a Barclays current account? They have a 5% easy access saver which is only open to current account holders; Martin Lewis recommends it (but only up to £5k as then the rate drops)

I am waiting for the 3rd November as I’m sure interest rates will rise - then I’ll fix for 1 year -

You can get 4.5% at Shawbrooks if you fix for a year.
I wouldn't though as rates are going up.
Atom doing 3.55% if you fix for 6 months.
Be prepared to move your money around for the best rates.

I use nexo - invest in stable coin only so not crypto. 8% annual return.

Thanks everyone this is very useful. I hadn’t thought of waiting till the 3rd- very uninformed what is happening then? The next PM? Will that definitely make interest rates go up? Unfortunately I don’t have and account with Barclays, I do with Santander.

Good deals here? It’s changing daily just now.

The 3rd is the next bank of england meeting where they will decide if interest rates need to change.

It's almost certain that the base rate will rise then, and in the days following there will be increases in the interest rates paid on savings

Thanks for the explanation @Sarahconnor1 ! @Bananaman123 i have had a look at the MoneySE page, it’s a useful resource but none of the accounts quite hit the spot.I think I’ll wait until the 3rd.

I looked at Martin Lewis and started a 1 year fixed rate with HTB (4.52%) ....but I after reading this will wait til 3rd November if I change any other accounts.