Best place for savings

[Mollyeyes]

Hello everyone, I’d like some advise on best savings accounts, I don’t have an ISA and don’t know much about them. What ISA is recommended and by which company?

Thank you

Things change

Check out money save if expert

If you’re saving for a house try a LISA instead

Cash ISAs are generally pointless atm, as few of us earn enough interest for it to be treated as taxable interest anyway. (Interest used to be paid net of tax on savings accounts, except ISAs which were / are tax exempt. NOw interest is paid gross but you only have to pay tax on it if you make something like more than £500 a year in interest. For which you would need a LOT of savings at todays interest rates.

A LISA might work for you as a PP said if you are saving for a house.

Stocks and Shares ISA mighht work if you are prepared to leave your money in over a long period to weather ups and downs.

How much money? Do you need quick access?

NS&I Income Bonds are currently a good interest rate compared to most banks savings accounts, and you can withdraw the money without notice or penalty.

Does your bank offer a Regular Saver account with a high interest rate if you put in a certain amount each month?

Gosh, haven’t got a clue on investing in bonds and stocks and shares, what companies to invest in etc.

It sounds like you just want a safe place for cash savings. As InTheWings says, NS&I bonds are offering the best rate at the moment ('best' is of course a relative term, no bank is offering a good interest rate at the moment). As Bluebells says, check out Money Saving Expert for the latest news. I have a Marcus savings account, which has been great but the introductory rate has ended. I also have a Tesco two year fixed saver, no complaints about that one either.