Best high interest avings account??

Can anyone recommend a good high interest savings account? Want to get the most from our wedding savings and not just leave them in our normal account whilst we are saving up!



  • Hi Rachel, how did you get on with the savings account? im looking to open one this week but have t had the chance to look into it yet. Xx

  • AdelemkAdelemk Posts: 118

    Following this thread! 

  • I didn't manage to find one sorry! I decided to use the ISA as its tax free savings, from all my research everything said use ISAs first but i am still undecided... only got £300 savings atm so not a huge issue! 

  • MC98MC98 Posts: 211

    Santander 123 has a good interest rate if you have a bit of money put away (think its 3% interest anything over £1000 - not 100% on that though!). It's also a cashback account on things like bills/household expenses, and if you have a Santander mortgage. We've put our savings into our current account to take advantage of the rate, but have to admit it's tricky making sure it stays and doesn't get eaten into in normal spends!

  • Melissa45Melissa45 Posts: 503 New bride

    I second the 123 account! i make about £33 a month from it and that's after ive paid the monthly fee and any tax. it does mean savings and 'normal' money are together but i make way more than I could with my Isa x

  • Jenni8Jenni8 Posts: 3,201

    First direct also do a good one at the moment I think. The best place for advice on things like this is Money Saving Expert website. Here is a link to do with savings accounts: 

    An ISA is not the best place if you are planning on removing the money after not too long, as you don't get that figure returned to your allowance, once it is gone, its gone. 

  • Hmmm... I have a 123 account and did think abot this, but I'm worried it will get swallowed up in our normal money and I wont actually save it! Ideally it needs to be kept separate... argh so hard to decide! 

  • MC98MC98 Posts: 211

    Could you open up another 123 account Rachel? You're allowed one each, plus a joint - the problem would be making enough interest on savings to cover the fee if you're not making any payments on it to get the cashback...

  • My OH doesnt have a good credit rating so unlikely to get approved for an account, and for same reason we dont have 'joint' accounts (although all our money goes into the 123 anyway! Such a minefield lol... I knows £6000 wont be the hugest savings in the world, but I want to make the most out of them, get more bang for our buck hahaha :D

  • Pf2016Pf2016 Posts: 820 New bride

    You only get the interest on the 123 account if you're paying in and out of it regularly. If your money just sits there, no interest and monthly fee of £5!


    We use our 123 for everything but yes v difficult to keep track of savings. I noticed tsb have a good account right now, i might check that out as a second savings option.

  • I opened a instant access saver with the post office which seemed to have the best rate for putting our house extension cash into, but want to try and keep our wedding savings separate. I think most things for wedding won't need paid until next May so be good to get something a little bit better. I considered a current account as they have the best rates but I'm a spender so best if our wedding money is out of sight, lol!!  I'll check the Martin Lewis website for the best rate at the minute. Xx

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